Monday, March 05, 2012
Cleantech Solutions Announces Effective Date of Reverse Split
WUXI, Jiangsu, China, March 5, 2012 (Solar Energy News) -- Cleantech Solutions International, Inc. ("Cleantech Solutions" or "the Company") (NASDAQ: CLNT), a manufacturer of metal components and assemblies, primarily used in the wind power, solar and other clean technology industries, announced that the one-for-ten reverse stock split of its common stock becomes effective at the opening of trading on Tuesday, March 6, 2012. The symbol for the common stock will remain "CLNT," however, for a period of 20 trading days, there will be a "D" added to the symbol to signify that the reverse stock split has occurred.
As previously reported, the reverse split was approved by the Company's stockholders at a special meeting of shareholders held on February 21, 2012. The reverse stock split affects all issued and outstanding shares of the Company's common stock immediately prior to the effectiveness of the reverse stock split on March 6, 2012.
Shares held electronically in street name will be automatically converted to reflect the reverse split. Stockholders holding certificates will be required to submit the certificates to the Company's transfer agent in order to receive the reverse split shares.
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