NEW YORK, NY--(Marketwired - Oct 16, 2013) - On October 11, 2013, the Board of Directors of Trans-Lux Corporation (
J.M. Allain, President and CEO, commented that "in making its determination to go forward with the reverse/forward stock split, the Board analyzed a variety of factors, including the existing and expected marketability and liquidity of the Company's Common Stock, the prevailing market conditions and the likely effect on the market price of the Company's Common Stock, and determined that the implementation of the reverse/forward stock split at this time is in the best interest of the Company and its shareholders." Mr. Allain continued, "In taking this action, our main goals are to broaden our investor base and improve shareholder value."
The Board had previously set the ratios for the reverse split at 1-for-1,000, immediately followed by a forward split by a ratio of 40-for-1. The Company has made the applicable filing with the Financial Industry Regulatory Authority (FINRA) and is in the process of implementing the reverse/forward stock split, which is scheduled to be effective as of the close of business on Friday, October 25, 2013.
For more information, visit www.trans-lux.com.
About Trans-Lux
Trans-Lux Corporation (
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The Company may, from time to time, provide estimates as to future performances. These forward-looking statements, including loss of market share through competition, introduction of competing products by others, pressure on prices from competition or purchasers of the Company's products, interest rate and foreign exchange fluctuations, terrorist acts and war.
Contact Information:
INVESTOR RELATIONS CONTACT:
Kristin A. Kreuder
Vice President and General Counsel
Trans-Lux Corporation
phone: 203-642-5833
e-mail: