SAN FRANCISCO (Thomson Financial) - Magellan Petroleum Corp. said Wednesday
shareholders approved a resolution authorizing a reverse stock split at a ratio
of not less than 1-for-2 and not greater than 1-for-10 at any time prior to Dec.
31, 2009, with the exact ratio to be determined by the company's board.
At the 2007 annual meeting, Magellan's shareholders also voted to re-elect
Chairman Walter McCann and Ronald Pettirossi to additional three-year terms on
the company's board.
Shares of Hartford, Conn.-based Magellan fell a penny to $1.09.
Gabriel Madway
gm/jw
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