Comscore Agrees Stock Split for Nasdaq Compliance

Digital measurement veteran Comscore is to proceed with a 1-for-20 reverse split of its issued and outstanding common stock, from this Wednesday, December 20th. The split is required because Comscore's share price has remained below Nasdaq's minimum $1 requirement.

The split was approved last Tuesday in separate votes by Comscore's shareholders and Board of Directors, and is intended to make the company's stock more attractive to a broader range of institutional and other investors. The move means the number of issued Comscore common stock shares will be reduced by a factor of twenty, from 95.1m to c.4.8m, subject to adjustment for fractional shares - shareholders will receive a cash payment for remainder shares when their holding is divided by twenty.

CEO Jon Carpenter (pictured) said of the decision: 'While we are disappointed that market conditions led to this reverse split, we are encouraged by our recent performance as we continue to pursue clear financial, operational and strategic opportunities to deliver growth and value for our shareholders and clients. We expect to meet the 2023 financial guidance we published in November and see strong growth potential for 2024 and beyond'.

The Nasdaq rule, which requires companies to keep their share price above $1 except for short spells, has led to other research and analytics companies being warned and threatened with delisting in the past, notably Harris Interactive in both 2009 and 2011-12 - a reprieve followed on both occasions.

Web site: www.comscore.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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