They rose (3%) to 32 cents in late trading.
Reverse splits boost the price of a stock and reduce the total number of shares outstanding.
They are typically done by companies looking to avoid delisting or improve their standing with investors.
National CineMedia’s “Noovie” pre-showNational CineMedia
A number of shares, in this case still unspecified, are combined and reclassified into one share.
The companies reached a new, comprehensive agreement earlier this month.
It will be part of Cineworlds eventual restructuring plan when thats appproved by the judge, likely this summer.
