UTStarcom Holdings Corp. UTSI
("UTStarcom" or the "Company"), a leading provider of media operational
support services and broadband equipment products and services, today
announced that it will hold an extraordinary general meeting of its
shareholders (the "EGM") on Thursday, March 21, 2013, at 1:00 p.m., Beijing
time, to seek approval for a previously announced 3-for-1 reverse share
split. UTStarcom's Board of Directors believes that implementing a reverse
share split is likely to improve the marketability and liquidity of
UTStarcom's ordinary shares.
The meeting will be held at UTStarcom's offices located at Room 303, Building
H, Phoenix Place, No. A5 Shuguangxili, Chaoyang District, Beijing, P.R. China,
100028. Shareholders of record as of the close of business on February 5,
2013, are entitled to notice of and vote at the EGM. If approved, the reverse
share split will become effective immediately upon approval by the Company's
shareholders. Upon becoming effective, every three outstanding and authorized
ordinary shares of UTStarcom as of the effective date will be automatically
combined into one issued and outstanding ordinary share.
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