UniTek Global Services Announces One-for-Two Reverse Stock Split
December 22 2010 - 6:05PM
UniTek Global Services ("UniTek" or the "Company") (Nasdaq:UNTK)
(Nasdaq:UNTKD), a premier provider of permanently outsourced
infrastructure services to the wireless and wireline
telecommunications, broadband cable and satellite television
industries, today announced the completion of a one-for-two reverse
stock split of its common stock, effective on December 21, 2010.
Trading on a post-split basis began today. The Company's Board of
Directors and stockholders approved the stock split on October 29,
2010.
Stockholders of record on December 21, 2010 will soon receive a
letter of transmittal from the Company's transfer agent, which they
will need to submit, along with their original stock certificates,
in order to reflect the split. The split will decrease the number
of common shares outstanding from approximately 30.30 million
shares to approximately 15.15 million shares.
The Company has received a new CUSIP number in connection with
the split. The new CUSIP number is 91324T 302. In connection with
the split, a "D" will be appended to the Company's symbol for 20
trading days to reflect the split. The Company's symbol will
temporarily be "UNTKD" during this 20-day period, and will revert
to "UNTK" on January 20, 2011.
About UniTek Global Services
UniTek Global Services is a provider of engineering,
construction management and installation fulfillment services to
companies specializing in the telecommunications, broadband cable,
wireless and satellite industries. UniTek has created a scalable
operating platform, enabling each UniTek subsidiary to deliver
quality services to its Fortune 200 customers. UniTek, based in
Blue Bell, PA, utilizes a diverse workforce of over 5,200 deployed
throughout over 102 locations in the United States and Canada.
www.unitekglobalservices.com
Forward Looking Statements
The Company may from time to time make written or oral
"Forward-looking statements", including statements contained in
this release and in the Company's filings with the Securities and
Exchange Commission. These forward-looking statements include
statements with respect to the Company's beliefs, plans,
objectives, goals, expectations, anticipations, estimates, and
intentions that are subject to significant risks and uncertainties
and are subject to change based on various factors, many of which
are beyond the Company's control. These risks and uncertainties
include the risk factors detailed from time to time in the
Company's filings with the Securities and Exchange Commission. The
words "may", "could", "should", "would", "believe", "anticipate",
"estimate", "expect", "intend", "plan", and similar expressions are
intended to identify forward-looking statements. All such
statements are made in good faith by the Company pursuant to the
"safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. The Company does not undertake to update any
forward looking statement, whether written or oral, which may be
made from time to time by or on behalf of the Company, except as
may be required by applicable law or regulations.
CONTACT: The Piacente Group, Inc.
Investor Relations
Brandi Floberg
Lee Roth
(212) 481-2050
unitek@tpg-ir.com
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