Blue Sphere Announces A Reverse Split Of Its Common Stock
EVEN YEHUDA, Israel, Dec. 4, 2013 /PRNewswire/ -- Blue Sphere Corp. (OTCBB: BLSP) (the "Company" or "Blue Sphere"), a company in the Cleantech sector as a waste-to-energy and clean energy project integrator, is pleased to announce that it has affected a 113-1 reverse split in respect of its issued and outstanding common stock and made certain other amendments to its Articles of Incorporation.
Blue Sphere common stock will start trading on a split-adjusted basis on today's date. The symbol "D" will be added to its ticker for 20 days.
Shlomi Palas, Chief Executive Officer of Blue Sphere commented, "We continue to execute on our business plan of developing and implementing organics to energy projects. We have made a number of breakthroughs in our existing projects, including starting assembly and construction of certain parts of the biogas plants to operate in North Carolina and Rhode Island. The reverse stock split is intended to allow for greater visibility amongst the national investment community."
The reverse stock split will affect all shares of the Company`s common stock outstanding immediately prior to the effective time of the reverse stock split. No fractional shares will be issued as a result of the reverse stock split. In lieu of issuing fractional shares, the Company will round up to one whole share of common stock in the event a stockholder would be entitled to receive a fractional share of common stock.
For further information please contact Mark Radom at 972 52 798 0831 or firstname.lastname@example.org.
About Blue Sphere Corp.
Blue Sphere Corp. is a company in the cleantech sector as a waste-to-energy project Integrator. Blue Sphere develops waste-to-energy and other renewable energy projects. The Company aspires to become a key player in the global waste-to-energy and renewable energy markets. For further information please visit the Company's website www.bluespherecorporate.com
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Litigation Reform Act of 1995, which are subject to risks and uncertainties and may change at any time. These statements are only predictions and involve known and unknown risks, uncertainties and other factors including, without limitation, (i) uncertainties regarding our ability to obtain adequate financing on a timely basis including financing for specific projects, (ii) the financial and operating performance of our projects after commissioning, (iii) uncertainties regarding the market for and value of carbon credits and other environmental attributes, (iv) political and governmental risks associated with the countries in which we operate, (v) unanticipated delays associated with project implementation including designing, constructing and equipping projects, as well as delays in obtaining required government permits and approvals, (vi) the development stage of our business and (vii) our lack of operating history. As such, there is no assurance that the initiatives described in the press release will be successfully implemented or meet expectations.
The Company assumes no obligation to update the information in this release.
SOURCE Blue Sphere Corp.