Tucows 2013 Annual Report Download - page 33

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PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND
ISSUER PURCHASES OF EQUITY SECURITIES
Price Range of Common stock
On December 17, 2013, we notified the NYSE MKT LLC (the " NYSE MKT ") of our intent to withdraw the listing
and registration of our common stock from the NYSE MKT, and transfer the listing of our common stock to the NASDAQ
Capital Market ("NASDAQ"). Our common stock ceased trading on the NYSE MKT at the close of business on
December 27, 2013, and began trading on NASDAQ on December 30, 2013 under the stock symbol "TCX". We maintained
our listing on the Toronto Stock Exchange under the symbol “TC”.
At a special meeting of shareholders on December 4, 2013, our shareholders approved an amendment to our Fourth
Amended and Restated Articles of Incorporation to implement a reverse stock split, within a range from 1-for-3 to 1-for-6 at
any time prior to January 31, 2014, with the exact ratio of the reverse stock split to be determined by our Board of Directors
at its sole discretion. Subsequently, our Board of Directors approved the implementation of a reverse stock split at a ratio of
1-for-4 shares (the “Reverse Stock Split”). This Reverse Stock Split was effective on December 30, 2013 and our common
stock began trading on NASDAQ on a split adjusted basis on December 31, 2013 and our authorized shares of common stock
were proportionately decreased from 43,625,048 shares to 10,907,063 shares. Fractional shares were rounded up to the
nearest whole share in connection with the Reverse Stock Split. The following table sets forth the range of high and low sales
prices for our common stock for the periods indicated, as adjusted to reflect the Reverse Stock Split:
Year
Fiscal Quarter Ended
High
Low
2014
January 1, 2014 through March 17, 2014
$
14.92
$
11.62
2013
March 31, 2013
14.45
9.20
June 30, 2013
9.92
7.12
September 30, 2013
8.64
6.64
December 31, 2013
9.00
5.68
2012
March 31, 2012
5.96
4.20
June 30, 2012
5.68
4.00
September 30, 2012
6.88
4.08
December 31, 2012
5.00
3.00
Our common stock was listed on the OTC Bulletin Board maintained by NASDAQ under the symbol “TCOW”
through August 17, 2005. Our common stock began trading on the NYSE MKT under the symbol “TCX” on
August 18, 2005 through December 27, 2013. Our common stock began trading on NASDAQ under the symbol “TCX” on
December 30, 2013.
As of March 5, 2014, Tucows had 280 shareholders of record, excluding shareholders whose shares are held in
nominee or “street” name by brokers.
We have not declared or paid any cash dividends on our common stock during the fiscal years ended December 31,
2013 and December 31, 2012, and we do not intend to do so in the immediate future, but we may decide to do so in the future
depending on ongoing market conditions. Our ability to pay any cash dividends on our common stock, should our Board of
Directors decide to do so, is also dependent on our earnings and cash requirements.
Purchases of equity securities by the issuer and affiliated purchasers
Our stock buyback program, which we initially commenced on March 1, 2013, terminated on February 28, 2014.
We did not repurchase any equity securities during the fourth quarter of the year ended December 31, 2013.
ITEM 6. SELECTED FINANCIAL DATA
Not applicable.
33