Majesco seeks stock split to save itself from delisting

Friday, 21 February 2014 00:06 GMT By Mike Irving

Majesco will attempt to save itself from being delisted from the Nasdaq stock market by seeking a reverse stock split.

The former publisher of various Zumba games and the Cooking Mama series will attempt to implement a reverse stock split at its annual shareholders meeting on April 25.

Nasdaq requires companies to maintain a minimum stock price of $1 per share, which Majesco has been unable to do since March last year. Currently trading at 53 cents per share, a stock split should bring the company’s share prices back above the threshold.

Last year, Majesco was given six months to raise its value, and a six month extension when it failed to do so.

Thanks, Joystiq.