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This excerpt taken from the SIRI DEF 14A filed Apr 30, 2009. Effective
Time
The proposed reverse stock split would become effective as of
11:59 p.m., Eastern Time, (the “Effective Time”)
on the date of filing the Reverse Stock Split Amendment with the
office of the Secretary of State of the State of Delaware.
Except as explained below with respect to fractional shares, on
the Effective Time, shares of our common stock issued and
outstanding immediately prior thereto will be combined,
automatically and without any action on the part of the
stockholders, into one share of our common stock in accordance
with the reverse stock split ratio determined by our board of
directors. We expect to file the Share Increase Amendment
authorized by Item 2 with the Secretary of State of the
State of Delaware promptly upon approval by our stockholders and
in any event prior to effecting any stock split and share
decrease authorized by this Item 3. Approval by
stockholders of this Item 3 is not conditioned upon
approval of Item 2; conversely, approval by stockholders of
Item 2 is not conditioned upon approval of this Item 3.
After the Effective Time, our common stock will each have new
committee on uniform securities identification procedures
(“CUSIP”) numbers, which is a number used to identify
our equity securities, and stock certificates with the older
CUSIP numbers will need to be exchanged for stock certificates
with the new CUSIP numbers by following the procedures described
below.
After the Effective Time, we will continue to be subject to
periodic reporting and other requirements of the Exchange Act.
Our common stock will continue to be listed on the Nasdaq Global
Select Market under the symbol “SIRI”, although Nasdaq
will add the letter “D” to the end of the trading
symbol for a period of 20 trading days after the Effective Date
to indicate that the reverse stock split has occurred.
This excerpt taken from the SIRI DEF 14A filed Nov 4, 2008. Effective
Time
The proposed reverse stock split would become effective as of
11:59 p.m., Eastern Time, (the “Effective Time”)
on the date of filing the Reverse Stock Split Amendment with the
office of the Secretary of State of the State of Delaware.
Except as explained below with respect to fractional shares, on
the Effective Time, shares of our common stock issued and
outstanding immediately prior thereto will be combined,
automatically and without any action on the part of the
stockholders, into one share of our common stock in accordance
with the reverse stock split ratio determined by our board of
directors. We expect to file the Share Increase Amendment
authorized by Item 2 with the Secretary of State of the
State of Delaware promptly upon approval by our stockholders and
in any event prior to effecting any stock split and share
decrease authorized by this Item 3. Approval by
stockholders of this Item 3 is not conditioned upon
approval of Item 2; conversely, approval by stockholders of
Item 2 is not conditioned upon approval of this Item 3.
After the Effective Time, our common stock will each have new
committee on uniform securities identification procedures
(“CUSIP”) numbers, which is a number used to identify
our equity securities, and stock certificates with the older
CUSIP numbers will need to be exchanged for stock certificates
with the new CUSIP numbers by following the procedures described
below.
Table of Contents
After the Effective Time, we will continue to be subject to
periodic reporting and other requirements of the Exchange Act.
Our common stock will continue to be listed on the Nasdaq Global
Select Market under the symbol “SIRI”, although Nasdaq
will add the letter “D” to the end of the trading
symbol for a period of 20 trading days after the Effective
Date to indicate that the reverse stock split has occurred.
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