BAY SHORE, N.Y., Jan. 3, 2011 (GLOBE NEWSWIRE) -- Del Global Technologies Corp. (OTCBB:DGTC) (“Del Global” or “the Company”) announced today that on December 22, 2010, the Board of Directors of the Company (the “Board”) approved an effective date of January 6, 2011 for the reverse stock split at a ratio of one-for-50 (the “Reverse Stock Split”) such that shareholders owning of record fewer than 50 shares of common stock, par value $0.10 per share (the “Common Stock”) will have such shares cancelled and converted into the right to receive an amount based on the average closing price of the Common Stock for the ten trading days immediately prior to the effective date of the Reverse Stock Split for each share of Common Stock held of record prior to the Reverse Stock Split, followed by a forward stock split at a ratio of four-for-one (the “Forward Stock Split” and together with the Reverse Stock Split, the “Reverse/Forward Stock Split”) such that all fractional shares remaining following the Forward Stock Split will be cancelled and converted into the right to receive an amount based on the average closing price of the Common Stock for the ten trading days immediately prior to the effective date of the Reverse/Forward Stock Split for each share of Common Stock held of record prior to the Reverse/Forward Stock Split.
