FXCM Announces 1-for-10 Reverse Stock Split
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FXCM Inc. /
FXCM Announces 1-for-10 Reverse Stock Split
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NEW YORK, July 21, 2015 (GLOBE NEWSWIRE) -- FXCM Inc. (NYSE:FXCM), a leading
online provider of foreign exchange (FX) trading and related services, today
announced that its Board of Directors has approved a 1-for-10 reverse stock
split of its issued and outstanding Class A common stock. FXCM anticipates
holding a special meeting of stockholders on September 21, 2015 to seek the
approval of stockholders to amend FXCM's Certificate of Incorporation to effect
the reverse stock split and authorized FXCM's Board of Directors to determine
the effective date of the reverse stock split.
"The execution of this reverse split represents an important step in achieving
several significant corporate objectives, including FXCM's continued listing on
the New York Stock Exchange," said Drew Niv, Chief Executive Officer and
Chairman of the Board. "Remaining a NYSE-listed company is an important
objective for FXCM. The NYSE requires certain standards be met to continue as a
listed company on its exchange, and while we currently satisfy all of those
obligations and do not anticipate that changing, a reverse stock split will only
serve to help strengthen our status and protect the company and its
shareholders."
At the effective time of the reverse stock split, every ten shares of issued and
outstanding Class A common stock will be converted into one newly issued share
of Class A common stock. Any stockholders entitled to fractional shares as a
result of the reverse stock split will receive cash in lieu of such fractional
shares. A new CUSIP would be assigned to FXCM's Class A common stock if the
reverse stock split became effective.
Additional information about the reverse stock split can be found in FXCM's
preliminary proxy statement filed with the Securities and Exchange Commission on
July 21, 2015 a copy of which is available at www.sec.gov or at ir.fxcm.com
under the SEC Filings tab located on the Investors page.
Disclosure Regarding Forward-Looking Statements
Certain statements contained herein may constitute "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/or the Private Securities Litigation
Reform Act of 1995, which reflect FXCM's current views with respect to, among
other things, its operations and financial performance in the future. These
forward-looking statements are not historical facts and are based on current
expectations, estimates and projections about FXCM's industry, management's
beliefs and certain assumptions made by management, many of which, by their
nature, are inherently uncertain and beyond our control. Accordingly, readers
are cautioned that any such forward-looking statements are not guarantees of
future performance and are subject to certain risks, uncertainties and
assumptions that are difficult to predict including, without limitation, risks
associated with the events that took place in the currency markets on January
15, 2015 and their impact on FXCM's capital structure, risks associated with
FXCM's ability to recover all or a portion of any capital losses, risks relating
to the ability of FXCM to satisfy the terms and conditions of or make payments
pursuant to the terms of the credit agreement with Leucadia, risks related to
FXCM's dependence on FX market makers, market conditions, and those other risks
described under "Risk Factors" in FXCM Inc.'s Annual Report on Form 10-K and
other reports or documents FXCM files with, or furnishes to, the SEC from time
to time, which are accessible on the SEC website at sec.gov. This information
should also be read in conjunction with FXCM's Consolidated Financial Statements
and the Notes thereto contained in FXCM's Annual Report on Form 10-K, and in
other reports or documents the FXCM files with, or furnishes to, the SEC from
time to time, which are accessible on the SEC website at sec.gov.
About FXCM Inc.
FXCM Inc. (NYSE:FXCM) is a leading provider of online foreign exchange (forex)
trading, CFD trading, spread betting and related services. Our mission is to
provide global traders with access to the world's largest and most liquid market
by offering innovative trading tools, hiring excellent trading educators,
meeting strict financial standards and striving for the best online trading
experience in the market.
Clients have the advantage of mobile trading, one-click order execution and
trading from real-time charts. In addition, FXCM offers educational courses on
forex trading and provides free news and market research through DailyFX.com.
Trading foreign exchange and CFDs on margin carries a high level of risk, which
may result in losses that could exceed your deposits, therefore may not be
suitable for all investors. Read full disclaimer.
Visit www.fxcm.com and follow us on Twitter (at)FXCM, Facebook FXCM, Google+ FXCM
or YouTube FXCM.
CONTACT: FXCM Inc.
Jaclyn Klein, 646-432-2463
Vice-President, Corporate Communications
jklein(at)fxcm.com
investorrelations(at)fxcm.com
This announcement is distributed by GlobeNewswire on behalf of
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: FXCM Inc. via GlobeNewswire
[HUG#1940299]
Unternehmensinformation / Kurzprofil:
Datum: 21.07.2015 - 22:15 Uhr
Sprache: Deutsch
News-ID 408288
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