Monday, 24 October 2005 10:00

LookSmart to counter de-listing with stock consolidation

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Online search company, LookSmart (ASX:LOK), will counter a recently enforced de-listing from the NASDAQ exchange with a reverse stock split.

LookSmart, which was originally founded in Australia during the dotcom era and is also listed on the ASX, has been on the slide since its search engine was dumped by Microsoft in January 2004, in the wake of clearly superior search technologies offered by the likes of Google and Yahoo.

The reverse stock split, which is intended to re-instate LookSmart's share price to above the minimum US$1 threshold for a NASDAQ listing, will apply equally to the company's stock on the ASX.


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Stan Beer

Stan Beer assists with Digital Advertising installation and monitoring of advert performance. With 35 plus years of experience working in IT and Australian technology media, Beer has published articles in most of the IT publications that have mattered, including the AFR, The Australian, SMH, The Age, as well as a multitude of trade publications. Any previous news story submissions should be director to editor@itwire.com and advertising enquires to andrew.matler@itwire.com

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