Parker Drilling Files Revised Preliminary Proxy Statement Proposing Range of Stock Split Ratios to Reduce Number of Stockholders of Record Below 300
PARKER DRILLING (PKD)
Last parker drilling earnings: 11/5 04:20 pm
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US:NYSE Investor Relations:
investors.parkerdrilling.com
Company Research
Source: PR Newswire
HOUSTON, Oct. 21, 2019 /PRNewswire/ -- Parker Drilling Company (NYSE: PKD) ("Parker" or the "Company") announced today that it has filed a revised preliminary proxy statement with the Securities and Exchange Commission (the "SEC") relating to a proposal by its Board of Directors (the "Board") to amend the Company's amended and restated certificate of incorporation to effect a reverse stock split, to be followed immediately by a forward stock split, at a ratio of (i) not less than 1-for-5 and not greater than 1-for-100, in the case of the reverse stock split, and (ii) not less than 5-for-1 and not greater than 100-for-1, in the case of the forward stock split, which collectively are the "stock splits." The proposed stock splits continue to be for the purpose of deregistering the Company's common stock under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), in connection with delisting the Company's shares from trading on the New York Stock Exchange, as previously an
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