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Motorola announces shareholders meeting to approve reverse split

September 24th, 2010 at 9:29 AM

Today, Motorola announced that it would be holding a special meeting for all stockholders on November 29. The company is seeking approval of a reverse split buyback of common stock; ratios being reported are anywhere from 1-for-3 to 1-for-7.

“If approved by stockholders, the reverse split is expected to be implemented on Motorola Solutions common stock in the first quarter 2011, immediately following Motorola’s previously announced separation into two, independent public companies,” reads the press release. “Motorola’s Board of Directors believes that implementing a reverse stock split on Motorola Solutions outstanding shares is likely to improve the marketability and liquidity of Motorola Solutions common stock.”

An approved, reverse stock-split will obviously not affect the ownership stake any one shareholder has in the company, but the stock price will increase by a factor of 3 to 7 (depending on which split ratio is approved). The release also noted that investors who end up with a fraction of a share in the company — as a result of the reverse split — will be given cash for the partial share.

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