ROSS is going for 1/10 split to satisfy NAS. Full details in SEC filing but here's partial. I know of one 1/10 that really worked (TRKN) split from .90 to $9 and even with nas crash it's still in mid teens i think. ALTS reverse split about 5 yrs ago didn't work. it will depend on how well ROSS does in sales but this will give them breathing room and, with better balance sheet, they can dump their conv. debt. doesn't change market cap so its still 1/3 of sales.
ROSS SYSTEMS , INC.
Two Concourse Parkway, Suite 800
Atlanta, Georgia 30328
NOTICE OF SPECIAL MEETING OF STOCKHOLDERS
To be held April 26, 2001
A special meeting of stockholders of ROSS SYSTEMS, Inc. will be held at the Company's offices at Two Concourse Parkway, Suite 800, Atlanta, Georgia 30328 in the "Executive Briefing Room", on Thursday, April 26, 2001, at 10:00 a.m. local time for the following purposes:
1. To approve an amendment to our certificate of incorporation effecting a 1-for-10 reverse stock split;
2. To comply with the capitalization regulations of NASDAQ by authorizing the board of directors to make further issues of common stock to holders of convertible debentures; and
3. To transact such other business as may properly come before the meeting or any adjournments or postponements.
The foregoing items of business are more fully described in the attached proxy statement.
Only stockholders of record at the close of business on March 20, 2001 are entitled to notice of, and to vote at, the special meeting and at any adjournments or postponements. A list of such stockholders will be available for inspection at ROSS SYSTEMS' headquarters located at Two Concourse Parkway, Suite 800, Atlanta, Georgia 30328, during ordinary business hours for the ten-day period before the special meeting. |
