UTStarcom Announces Date for Extraordinary General Meeting to Approve Reverse Share Split
05/18/2022 - 06:00 AM
HANGZHOU, China, May 18, 2022 (GLOBE NEWSWIRE) -- UTStarcom (“UT” or the “Company”) (NASDAQ: UTSI), a global telecommunications infrastructure provider, today announced that it will hold an extraordinary general meeting of its shareholders (the "EGM") on Monday, June 27, 2022, at 2:00 p.m. China Standard Time, to seek approval for a one-for-four reverse share split. UTStarcom's Board of Directors believes that implementing a reverse share split is likely to improve the marketability and liquidity of UTStarcom's ordinary shares.
The meeting will be held at UTStarcom's office located at 4th Floor, South Wing, 368 Liuhe Road, Binjiang District, Hangzhou 310053, P.R. China. If approved, the reverse share split will become effective immediately upon approval by the Company's shareholders. Upon becoming effective, every four outstanding and authorized ordinary shares of UTStarcom as of the effective date will be automatically combined into one issued and outstanding ordinary share.
About UTStarcom Holdings Corp.
UTStarcom is committed to helping network operators offer their customers the most innovative, reliable and cost-effective communication services. UTStarcom offers high performance advanced equipment optimized for the most rapidly growing network functions, such as mobile backhaul, metro aggregation and broadband access. UTStarcom has operations and customers around the world, with a special focus on Japan and India. UTStarcom was founded in 1991 and listed its shares on the Nasdaq Market in 2000 (symbol: UTSI). For more information about UTStarcom, please visit http://www.utstar.com
For investor and media inquiries, please contact:
UTStarcom Holdings Corp.utsi-ir@utstar.com / shelleyjiang@utstar.com /
In the United States:
The Blueshirt Group gary@blueshirtgroup.com
UTSI Rankings
#2227 Ranked by Stock Gains
UTSI Stock Data
Industry
Other Communications Equipment Manufacturing
Sector
Manufacturing
Tags
Electronic Technology, Telecommunications Equipment, Manufacturing, Other Communications Equipment Manufacturing
Country
China (Mainland)
City
Binjiang District
About UTSI
utstarcom utstarcom delivers cutting-edge packet optical transport and broadband access solutions coupled with a carrier grade software defined networking platform to give telecommunications carriers the power to efficiently serve the rapidly growing demand for bandwidth from cloud-based services, mobile, streaming and other applications. our goal is to help network operators simplify the process of offering new revenue-generating products and services and run their networks more efficiently. this goal inspired our “simple network, simple operation” philosophy of product design whereby we help customers eliminate unnecessary layers of technical and operational complexity. as a result, network operators can reduce capital expenditures and operational expenses, while maintaining a high level of network reliability, performance and security. we leverage our extensive expertise in packet optical transport, broadband access, wi-fi and next generation video platforms, to develop state-of-the
