Every 15 shares will be consolidated into a single unit to push the price above the $1.0 minimum threshold allowed under market rules, the Greek owner said in a statement.
Shares is the Michael Zolotas-led company have not traded above the threshold since February, Bloomberg data shows.
If the split was carried out today, NewLead’s shares would be worth around $2.1 each, still well below the 52-week high of $2.73.
Shares
