- SDL Announces Two-for-One Stock Split
SAN JOSE, Calif., Dec. 22 -- SDL Inc. reported that its board of directors has approved a two-for-one stock split to be carried out in the form of a stock dividend. The split is dependent upon stockholder approval of an increase in the number of the company's authorized shares of common stock to 140 million. SDL's stockholders are to vote on the proposed increase in the authorized capital on February 28, 2000, at a special stockholder meeting. As proposed, the stock split would increase the number of SDL shares outstanding from approximately 36,000,000 to approximately 72,000,000.
The record date for the special meeting is January 4, 2000; if approved by stockholders, the record date of the SDL stock split is expected to be February 29, 2000. The company expects that certificates representing the additional shares will be mailed on or about March 13, 2000. Provided SDL's stockholders approve the increase in common stock, the company expects the stock to begin trading on a post-split basis on or about March 14, 2000.
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