DryShips is asking shareholders to give it wide powers to carry out a reverse split of the company’s US-listed shares.
The proposal is aimed at bringing the George Economou-led bulker and offshore vessel owner’s shares back in compliance with the Nasdaq stock exchange’s listing rules. They have been below the $1 minimum price since February.
The Greek company will hold a vote 19 February on a proposal to allow the board to OK reverse splits that would exchange one share for as many as 100 new shares, according to a proxy statement released today.
DryShips
