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May 15, 2014
06:05 EDTNEWLNewLead announces 1-for-50 reverse stock split
NewLead announced that a 1-for-50 reverse stock split of its common shares has been approved by the company's board and by written consent of a majority of NewLead's shareholders, in order for the company to maintain its compliance with the minimum bid price requirement of $1.00 per share for continued listing on the NASDAQ Global Select Market. The reverse split will be effective upon the commencement of trading today, on May 15. The reverse split will consolidate every fifty common shares into one common share, par value of $5.00 per share. As a result of the reverse stock split, the number of common shares outstanding will be reduced from 519.54M, to approximately 10.39M shares.
News For NEWL From The Last 14 Days
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February 24, 2015
09:16 EDTNEWLNewLead announces contract of affreightment for MT Katerina L
NewLead announced that it has entered into its first Contract of Affreightment for one of its bitumen tankers vessels, the Katerina L, for the transportation, within a ten month period, of a minimum of 31,000 tons of bitumen over ten voyages, or, at the Charterer's option, up to a maximum of 49,600 tons of bitumen over 16 voyages. The first shipment is scheduled to commence by the end of February 2015. The Katerina L will be trading in the Mediterranean and United Arab Emirates areas between all the major refineries in the respective areas. Katerina L has secured employment for a minimum of 100 and a maximum of 300 days in 2015, depending on the respective trading routes.

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