LTC Implements a Reverse Stock Split
Lithium Technology Corp. (LTC, Plymouth Meeting, PA), an early production stage rechargeable lithium battery manufacturer, announced that it has implemented a previously reported reverse stock split. The reverse stock split was approved by the company's board of directors at an exchange ratio of 1 for 20.
As a result of the reverse stock split becomeing effective, every 20 shares of LTC common stock outstanding on July 28, 2003, will be combined into one share of LTC common stock. This action reduces the number of fully diluted shares of LTC common stock from approximately 278 million to approximately 14 million.