Business News
Cereplast Announces Stock Symbol Change
Thursday 18. March 2010 - Company Receives Approval from FINRA to Trade under New Symbol in Preparation for Up-Listing to a Senior Exchange
Cereplast, Inc. (CERPD) (“Cereplast” or the “Company”) a leading manufacturer of proprietary bio-based, sustainable plastics, announced today that the 1-for-40 reverse stock split of the Companys common stock announced on January 8 has been approved by the Financial Industry Regulatory Authority (FINRA). FINRA has issued a new ticker symbol to Cereplast. Effective at the open of the market on Monday, March 15, 2010, the Companys new stock symbol will be CERPD. In approximately 20 business days the Companys ticker symbol will revert to CERP.
“The reverse stock split is an important step in order to meet the minimum share price requirements to up-list our shares to a senior exchange. We believe that listing our shares on a senior exchange will provide our stock with increased liquidity, as more institutional investors are able to invest in companies trading on senior exchanges,” said Frederic Scheer, Founder, Chairman and CEO of Cereplast, Inc. “Our solid business developments, coupled with the up-listing of our shares, should result in significantly increased shareholder value.”