Turners full-year earnings likely to exceed $20M, to consolidate shares, issue new bonds

Thu, 25 Feb 2016

By Jonathan Underhill Feb. 25 (BusinessDesk) - Turners reiterated that full-year pretax earnings are likely to exceed its guidance of $20 million, while setting a timetable for a share consolidation that will push the stock out of the "penny dreadful" category and moving to quarterly dividend payments. The one-for-10 consolidation, with a record date of March 22, will shrink shares on issue to about 63.5 million from 635 million and push up the stock price in theory to $2.80 from 28 cents currently, close to the $3 median for companies...

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