American Mobile Systems OKs Reverse Stock Split
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American Mobile Systems Inc., a Woodland Hills-based operator of mobile telephone dispatch services, has approved a 1-for-3 reverse stock split in hopes of boosting the price of its outstanding stock.
The decision, made Nov. 29 at the company’s annual shareholders meeting, means that the concern’s 11.7 million shares of outstanding common stock have been reduced to about 3.9 million shares.
