Business & Finance

HealthSouth announces stockholder approval of reverse stock split

Published in Pharma Investments, Ventures and Law Weekly, November 19th, 2006

HealthSouth Corp. (HLSH.OB) announced that its stockholders have overwhelmingly approved a 1-for-5 reverse stock split, whereby every 5 shares of common stock issued and outstanding will become 1 share of common stock.

More than 95% of HealthSouth's shareholders participated in the vote either in person or by proxy and more than 90% of the participating shareholders voted to approve the proposal.

The reverse split became effective on October 26, 2006, to coincide with HealthSouth's relisting on the New York Stock Exchange (NYSE) under the ticker symbol "HLS."

"We are very pleased that our stockholders have approved this proposal,"...

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Source: Pharma Investments, Ventures and Law Weekly (2006-11-19)

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