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NEW YORK, Jun 16, 2009 (BUSINESS WIRE) -- Vertro, Inc. (NASDAQ: VTRO), today announced the results of its annual meeting of stockholders held on June 11, 2009. All six directors standing for election at the meeting were elected and a resolution for a reverse stock split was also passed. Through this resolution the Board of Directors may, in its sole and absolute discretion without further action of the stockholders, implement a reverse split of the company's common stock at a ratio of 1-for-10 at any time prior to December 31, 2009. In the event the Board of Directors implements the reverse stock split, the Company will make a public announcement to stockholders prior to the record date.
Vertro, Inc. is the new name for MIVA, Inc. The Company's stock formerly traded on the Nasdaq under the ticker symbol MIVA.
About Vertro, Inc.
Vertro, Inc. (NASDAQ:VTRO) is a software and technology company that owns and operates the ALOT product portfolio. ALOT's products are designed to 'Make the Internet Easy' by enhancing the way consumers engage with content online. Through ALOT, Internet users can discover best-of-the-web third party content and display that content through customizable toolbar, homepage and desktop products. ALOT has millions of live users across its product portfolio. Together these users conduct high-volumes of type-in search queries, which are monetized through third-party search and content agreements. VTRO-G
Forward-looking Statements
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words or expressions such as "anticipate", "plan," "will," "intend," "believe" or "expect'" or variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including (1) our ability to successfully execute upon our corporate strategies, (2) our ability to develop and successfully market new products and services, and (3) the potential acceptance of new products in the market. Additional key risks are described in Vertro's reports filed with the U.S. Securities and Exchange Commission, including the Form 10-Q for Q1 2009.
SOURCE: Vertro, Inc.
Vertro, Inc.
Alex Vlasto, 646-253-0627
VP, Marketing & Communications
Alex.vlasto@vertro.com
Copyright Business Wire 2009