Phil Elliott
10:31 (BST)
18/02/2008
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Infogrames dates reverse share split
March 4 will see the 1-for-100 stock move
Infogrames Entertainment, Atari's parent company, has revealed that the planned 1-for-100 reverse share split will happen on March 4, according to Forbes.
The move, approved in November by shareholders, will consolidate existing holdings and should "benefit from a share price more in keeping with stock market standards and less subject to volatility," said the company.
Infogrames has undergone a series of restructuring moves in the past few months as it attempts to reverse its ill fortunes, and hired former EA exec David Gardner to replace Patrick Leleu as CEO at the end of January.
Atari recently announced that its PC RPG The Witcher has now sold over 600,000 units, and it will be releasing the much-anticipated Alone in the Dark on multiple platforms in May.
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