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Body Central reverse stock split effective from Sept 9
08
Sep '14
Clothing retailer Body Central Corp said it is initiating a ‘1-for-10’ reverse stock split of its common stock, which will be effective for trading from September 9, 2014.

“Pursuant to the reverse stock split, each 10 shares of issued and outstanding common stock and equivalents are being converted into 1 share of common stock”, Body Central said.

The retailer added by saying that also beginning from September 9, 2014, its common stock will begin trading under a new CUSIP number 09689U201.

Continuing for 20 business days, the common stock will trade under the symbol ‘BODYD’ to denote effectiveness of the reverse stock split, after which time its trading symbol will revert back to ‘BODY’.

Body Central stockholders will receive instructions from the retailers transfer agent, American Stock Transfer & Trust Company, LLC, as to procedures for exchanging existing stock certificates for new certificates or book-entry shares and for the receipt of cash proceeds in lieu of fractional shares.

Founded in 1972, Body Central, a multi-channel specialty retailer operates 274 specialty apparel stores in 28 US states, a catalogue business and an e-commerce website.

Net revenues for the fiscal second quarter ending June 28, 2014, plunged 24.8 percent from a year earlier at Body Central.

Body Central said its net revenues for the second quarter of 2014 declined 24.8% to $56.5 million from $75.1 million, it posted in the second quarter of 2013. (AR)

Fibre2fashion News Desk - India

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