CAMPBELL, Calif., Nov. 21, 2011 /PRNewswire/ -- Move, Inc. (NASDAQ:
MOVE), the leader in online real estate, today announced a
previously approved 1-for-4 reverse split of its common stock (the
"Reverse Stock Split") has been implemented. Trading on
NASDAQ of the reverse stock split-adjusted shares of Move, Inc.
common stock will commence at the opening of NASDAQ trading today.
Move, Inc. shares will continue to trade on the NASDAQ Stock
Exchange under the symbol MOVE, with the letter "D" added to the
end of the trading symbol for 20 trading days, indicating a reverse
stock split has been effected. The new CUSIP number for the
Company's common stock following the Reverse Stock Split is 62458M
207.
(Logo:
http://photos.prnewswire.com/prnh/20080213/MOVEINCLOGO)
The Reverse Stock Split became effective as of 5:00 p.m.,
Eastern time, on November 18, 2011,
at which time every four (4) shares of the Company's issued and
outstanding common stock were automatically combined into one (1)
issued and outstanding share of the Company's common stock, without
any change in the par value per share.
Regarding pre-reverse split shares held in book-entry form, the
Company's transfer agent (currently BNY Mellon Shareowner Services)
will send the stockholder a statement of the number of post-Reverse
Stock Split shares of common stock held, in book-entry form, on
behalf of the stockholder, including fractional shares as
applicable. Regarding pre-reverse split shares held in
certificate form, the Company's transfer agent will send the
stockholder instructions regarding the exchange of outstanding
pre-split stock certificates for book-entry shares of the company's
common stock reflecting the Reverse Stock Split, including
fractional shares as applicable. In cases where a
stockholder's total number of shares owned before the Reverse Stock
Split is not evenly divisible by four, then the number of
post-reverse split shares issued to that stockholder will be
rounded downward to the nearest ten-thousandth of a share.
Proportional adjustments will be made to the Company's equity
compensation plans to reflect the Reverse Stock Split.
ABOUT MOVE, INC.
Move, Inc. (NASDAQ: MOVE) is the leader in online real estate
with over 17.8 million visitors [1] to its online network of
websites within the Realtor.com Real Estate Network. Move,
Inc. operates: Move.com, a leading destination for information on
new homes and rental listings, moving, home and garden and home
finance; REALTOR.com®, the official website of the National
Association of REALTORS®; Moving.com; SeniorHousingNet; ListHub;
and TOP PRODUCER Systems. Move, Inc. is based in Campbell, California.
This press release may contain forward-looking statements,
including information about management's view of Move's future
expectations, plans and prospects, within the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995. These statements involve known and unknown risks,
uncertainties and other factors which may cause the results of
Move, its subsidiaries, divisions and concepts to be materially
different than those expressed or implied in such statements.
These risk factors and others are included from time to time
in documents Move files with the Securities and Exchange
Commission, including but not limited to, its Form 10-Ks, Form
10-Qs and Form 8-Ks. Other unknown or unpredictable factors
also could have material adverse effects on Move's future results.
The forward-looking statements included in this press release
are made only as of the date hereof. Move cannot guarantee future
results, levels of activity, performance or achievements.
Accordingly, you should not place undue reliance on these
forward-looking statements. Finally, Move expressly disclaims
any intent or obligation to update any forward-looking statements
to reflect subsequent events or circumstances.
(1) comScore Media Metrix, Key Measures Report, October
2011
SOURCE Move, Inc.