Business Services Industry
Shareholders of Chicago-Based Software Provider Approve Reverse Stock Split.
Knight Ridder/Tribune Business News, May, 2002
By Barbara Rose, Chicago Tribune Knight Ridder/Tribune Business News
May 22--Divine Inc.'s shareholders Tuesday overwhelmingly approved a reverse stock split aimed at boosting the company's share price to prevent Divine from losing its Nasdaq listing.
The vote was announced at the Chicago-based company's second annual meeting, where CEO Andrew "Flip" Filipowski spoke candidly during a wide-ranging two-hour exchange with about 75 shareholders at Divine's headquarters.
"I'd be the first to tell you this is a crap shoot," he told a shareholder who asked whether he should invest for his grandchildren's future, "and I would counsel very strongly against investments in Divine with anybody's last nickel."
Divine closed Tuesday at...
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