National Coal Corp. Announces One-for-Four Reverse Stock Split
June 22 2010 - 9:25AM
Business Wire
Shareholders of National Coal Corp. (Nasdaq: NCOC), a Central
and Southern Appalachian coal producer, approved amendments to the
Company’s articles of incorporation giving the Board of Directors
approval to execute a reverse split of its common shares at a ratio
within a range of 1-for-1.5 to 1-for-4. At a Board meeting on June
21, 2010, the Board of Directors approved a reverse 1-for-4 stock
split. Trading of National Coal’s common stock on the Nasdaq Global
Market will continue, on a reverse stock split-adjusted basis, with
the opening of the markets on June 22, 2010.
About National Coal Corp.
Headquartered in Knoxville, Tenn., National Coal Corp., through
its wholly owned subsidiary, National Coal Corporation, is engaged
in coal mining in East Tennessee. Currently, National Coal employs
about 155 people. National Coal sells steam coal to electric
utilities and industrial companies in the Southeastern United
States. For more information and to sign-up for instant news alerts
visit www.nationalcoal.com.
Information About Forward Looking Statements
This release contains “forward-looking statements” that include
information relating to future events and future financial and
operating performance. Forward-looking statements should not be
read as a guarantee of future performance or results, and will not
necessarily be accurate indications of the times at, or by which,
that performance or those results will be achieved. Forward-looking
statements are based on information available at the time they are
made and/or management's good faith belief as of that time with
respect to future events, and are subject to risks and
uncertainties that could cause actual performance or results to
differ materially from those expressed in or suggested by the
forward-looking statements. Important factors that could cause
these differences include, but are not limited to the risks more
fully described in the Company's filings with the Securities and
Exchange Commission including the Company's most recently filed
Annual Report on Form 10-K and Quarterly Reports on Form 10-Q,
which should be read in conjunction herewith for a further
discussion of important factors that could cause actual results to
differ materially from those in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
You should not put undue reliance on any forward-looking
statements. We assume no obligation to update forward-looking
statements to reflect actual results, changes in assumptions or
changes in other factors affecting forward-looking information,
except to the extent required by applicable securities laws. If we
do update one or more forward-looking statements, no inference
should be drawn that we will make additional updates with respect
to those or other forward-looking statements.
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