TheMichael Bodouroglou-led bulker owner says shareholders will see their stock reduced bya ratio of 10 shares to one.
Thiswill reduce the number of issued and outstanding shares of commonstock from about 61m to about 6.1m.
TheUS-listed bulker operator anticipates the change will become effective as ofthe close of trading on 5 November.
Sharesin Paragon will commence trading on a split-adjusted basis on the New YorkStock Exchange (NYSE) as of the open the next day.
Paragonis
