HOUSTON, Feb. 07, 2018 (GLOBE NEWSWIRE) -- NightCulture, Inc. (OTC Capital Markets:NGHT) announced today that its board of directors and controlling shareholders have approved a 1-for-2,000,000 reverse split of the company’s common stock. The record, and effective date of the proposed reverse stock split is February 23, 2018.
On the record date, the share holdings of all holders of less than 2,000,000 shares of common stock will be automatically terminated and, in lieu of receiving fractional shares, those shareholders will be entitled to receive a cash payment in the amount of $0.00125 per pre-reverse split share of common stock held by such shareholders.
Following the reverse split, the company’s stock is expected to be removed from trading on the OTC Markets.
The company will provide instructions to its shareholders regarding the procedure to surrender shares and receive cash payments for their shares.
CONTACT: Michael Long 832-535-9070 NGHT@NightCulture.com