The reverse stock split is intended to, among other things, increase the per share trading price of the Company's common shares to satisfy the $1.00 minimum bid price requirement for continued listing on the NYSE.
Instead, in lieu of any fractional shares to which a shareholder of record would otherwise be entitled as a result of the reverse stock split, … If approved, the reverse stock split is expected to become effective at 5:00 p.m., Central Time, on April 14, 2020, and the shares will begin trading on the split-adjusted basis on The New York Stock Exchange ("NYSE") under the Company's existing trading symbol "CHK" on April 15, 2020. OKLAHOMA CITY, April 13, 2020 /PRNewswire/ -- Chesapeake Energy Corporation (NYSE: CHK) (the "Company") today announced that, at a special meeting of shareholders of the Company held on April 13, 2020, its shareholders voted to approve: (i) a proposal authorizing the Board of Directors of the Company to effect a reverse stock split of the Company's issued and outstanding common stock … If approved, the reverse stock split is expected to become effective at 5:00 p.m., Central Time, on April 14, 2020, and the shares will begin trading on the split-adjusted basis on The New York Stock Exchange ("NYSE") under the Company's existing trading symbol "CHK" on April 15, 2020. OKLAHOMA CITY, April 9, 2020 /PRNewswire/ -- Chesapeake Energy Corporation (NYSE: CHK) (the "Company") today announced that it has set an expected effective date for the Company's reverse stock split, subject to shareholder approval of the reverse stock split at a special meeting of shareholders to be held on April 13, 2020.The reverse stock split proposal includes a proposed reverse … $0.01 per share. No fractional shares of common stock will be issued as a result of any reverse stock split.
The reverse stock split is intended to, among other things, increase the per share trading price of the Company's common shares to satisfy the $1.00 minimum bid price requirement for continued listing on the NYSE.
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