DragonWave sees Q2 revenue growth 25%-40% relative to Q1 DragonWave president and CEO Peter Allen stated, "We are pleased that the increased demand that we observed in Q1 is continuing into Q2. Momentum is such that we anticipate revenue growth between 25%-40% relative to Q1."
DragonWave to proceed with proposed share consolidation DragonWave announced that it intends to proceed with the share consolidation as proposed in the Management Proxy Circular dated December 11, 2015 and approved at the Company's special meeting of shareholders on Tuesday January 26, 2016. This announcement provides additional details on the Consolidation. At a special meeting held on January 26, 2016, DragonWave's shareholders approved a Consolidation on the basis of a consolidation ratio of between 1-for-15 and 1-for-25. The Board of Directors intends to implement the share Consolidation on the basis of twenty-five pre-Consolidation shares for one post-Consolidation share. The Consolidation of the Company's common shares is intended to establish the basis for the shares to trade above US$1.00, as per the listing requirements of the NASDAQ Stock Market. Taking this step will support the Company's efforts to maintain market access and trading liquidity of current and future shareholders who trade on the NASDAQ exchange