(April 27, 2001) -- Leapnet has presented to its shareholders a proposal for a reverse split of its stock to maintain the price above $1 per share and preserve its listing in the Nasdaq market. In a proxy mailed to its shareholders, the company proposes trading 29,205,126 shares of common stock outstanding for new stock on a two-for-one basis. Shares in the online marketing and communications company have been trading under $1 since late 2000 and closed at 50 cents today. Shareholders will vote on the proposal at the annual meeting scheduled June 5 in Leapnet's headquarters. -- Mercedes Cardona
Copyright April 2001, Crain Communications Inc.