- SDL Announces Two-For-One Stock Split
SAN JOSE, Calif., March 26 -- SDL, Inc. announced that its Board of Directors has approved a two-for-one stock split in the form of a stock dividend. The split is subject to stockholder approval of an increase in the company's authorized shares of Common Stock to 70 million shares. Stockholders will vote on the proposed increase in the authorized capital at the Company's annual meeting of stockholders on May 13, 1999. The stock split would increase the number of SDL shares outstanding from approximately 14,650,000 to approximately 29,300,000.
The record date for the Annual Meeting was March 19, 1999, and, subject to stockholder approval, the record date for the stock split is expected to be May 14, 1999. The expected mailing date of certificates representing the additional shares is expected to be approximately June 10, 1999. Assuming approval by the stockholders of the increase in Common Stock, SDL expects its Common Stock to begin trading on a post-split basis on approximately June 11, 1999.
MORE FROM PHOTONICS MEDIA