Atari proposes stock split to avoid NASDAQ de-listing

Atari continues to fight de-listing from the NASDAQ, with the proposal of a stock split the latest attempt to keep the struggling publisher afloat.

The proposed 1-for-10 reverse stock split would see current shares reduced to one-tenth of a share. After the stock-split, Atari share prices should in effect be worth ten times the current price, with the company having the same amount of net assets, but divided amongst fewer shares.

The plan is subject to shareholder approval, and with Atari parent company Infogrames holding 51 per cent of the publisher's shares, it's expected the plan will be approved.