The board of directors of United Park City Mines has approved a reverse split of the company's common stock on a 1-for-20 basis.
Each stockholder of record will be issued one share of post-split common stock for each 20 shares of common stock currently held, according to Hank Rothwell, president.Rothwell said the directors are hopeful the decrease in the number of shares common stock outstanding as a consequence of the proposed reverse split and the anticipated corresponding increased price per share will stimulate interest in the stock.
He also announced the annual meeting will be held May 23.