MILPITAS, California, United States-Palm announced its board of directors approved a 1-for-20 reverse stock split.
“The decision made by Palm’s board of directors to complete the planned reverse stock split in October 2002 is timely,” said Eric Benhamou, Palm chairman and chief executive officer (CEO). “It paves the way for the planned separation of our PalmSource subsidiary. It adjusts Palm’s capitalization structure to appropriate levels. And it enables us to attract new investors.”
