‘Reverse Split’ to Reduce Incomnet Shares by Half

Incomnet Inc. in Westlake Village said the number of outstanding shares of stock in the company will be reduced by half through a one-for-two “reverse split.”

The number of shares will fall from 15.2 million to 7.6 million. Such an action does not reduce the value of a stockholders’ holdings because the shares will trade at twice their price when the split is effective on June 1.