Chesapeake Energy board OKs 1-to-200 reverse stock split [MarketWatch]
Chesapeake Energy Corporation (CHK)
Last chesapeake energy corporation earnings: 2/26 07:00 am
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Source: MarketWatch
Chesapeake Energy Corp. said late Monday that following a special meeting of its shareholders its board approved a 1-for-200 reverse stock split to bring the company back into compliance with stock-exchange requirements, among other goals. The reverse split will take effect at the end of the business day on Tuesday and the split-adjusted stock will begin trading on the New York Stock Exchange at the open on Wednesday. The number of outstanding Chesapeake shares will be reduced to about 9.784 million shares, the company said. Shares of Chesapeake fell 1.4% in the extended session Monday after ending the regular trading day down 5.9%.
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