EAGLE TO PROPOSE3 REVERSE STOCK SPLIT TO MEET NASDAQ RULES

MILAN, Ill. -- Eagle Food Centers here said it will propose a reverse stock split to its shareholders at the company's June 27 annual meeting.y, Eagle common stock trades on the exchange under a temporary exemption Nasdaq granted in February. Eagle has until July 3, when the emption is scheduled to expire, to lift its stock above $1.Late last week, the stock was trading at 54 cents per share, and

MILAN, Ill. -- Eagle Food Centers here said it will propose a reverse stock split to its shareholders at the company's June 27 annual meeting.

y, Eagle common stock trades on the exchange under a temporary exemption Nasdaq granted in February. Eagle has until July 3, when the emption is scheduled to expire, to lift its stock above $1.

Late last week, the stock was trading at 54 cents per share, and a company spokesman told SN Eagle was confident the reverse split would bring the price of its stock above $1.

Meanwhile, as long as the stock trades under the exemption, it will be traded under a new symbol: EGLEC.

Jeff Little, Eagle chief executive officer and president, said, "We believe the company will meet all requirements for the continued listing of its stock on the Nasdaq SmallCap Market."