NETANYA, Israel, Sept. 14, 2016 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (Nasdaq:RADA) hereby announces that the reverse share split previously approved by the Company’s shareholders on August 31, 2016 has become effective on September 14, 2016. Pursuant to the reverse split, each 2 Ordinary Shares, NIS 0.015 nominal value per share, will be converted into one Ordinary Share, NIS 0.030 nominal value per share. No fractional shares will be issued as a result of the reverse- split.
As of September 12, 2016, there were 34,428,237 Ordinary Shares outstanding and after the reverse split there will be 17,214,119 Ordinary Shares outstanding.