GREAT NECK, N.Y.--(BUSINESS WIRE)--Liberty Petroleum Corporation (OTC Pink:LBPED) today announced that the Company effected a 1-for-15,000 reverse stock split of its outstanding common stock, and an amendment to the Company’s certificate of incorporation to reduce the number of authorized shares to 3,200 shares of no par value common stock.
A new CUSIP number (# 531169 30 8) is applicable to all trades or transfers on or after the open of business on January 23, 2014. The new symbol is LBPED. The D will be removed in 20 business days.
Holders of share certificates will receive instructions from the Company’s transfer agent regarding the process for exchanging their shares. Cash of $0.2692 per pre-reverse split share will be paid in lieu of issuing fractional shares.
Stockholders who hold their shares in brokerage or “street name” will not be required to take any action to effect the exchange of their shares.