Medalist Diversified REIT authorizes reverse and forward stock splits

Medalist Diversified REIT approved a one-for-ten reverse stock split of the company’s issued and outstanding shares of common stock and a five-for-one forward stock split of the common stock. The Reverse Stock Split is expected to take effect as of 5:00 p.m. ET on July 2, when every ten issued and outstanding shares of Common Stock will be converted into one share of Common Stock. The Forward Stock Split is expected to take effect immediately following the Reverse Stock Split as of 5:01 p.m. ET on July 2, when every one issued and outstanding share of Common Stock will be converted into five shares of Common Stock. The Common Stock is expected to begin trading on Nasdaq on a stock split-adjusted basis beginning on July 3 under the new CUSIP number 58403P402. No fractional shares will be issued in connection with the Reverse Stock Split. The Stock Splits will not affect any stockholder’s ownership percentage of shares of Common Stock.