Intel sets record and payment dates for two-for-one stock split
SANTA CLARA, Calif.--(BUSINESS WIRE)--March 26, 1997--Intel's Board of Directors has announced that June 10, 1997 will be the record date for the two-for-one split.
The payment date will be July 13, 1997. In an announcement on January 14, 1997, Intel's Board of Directors declared the two-for-one stock split to be effected as a special stock distribution of one share of Common Stock for each share of the company's Common Stock outstanding.
The Board of Directors' declaration of a special stock distribution (the "stock split") is subject to the condition that the stockholders approve an increase in total authorized common shares from the current limit of 1.4 billion shares to 4.5 billion. Intel's stockholders will vote on the increase at the company's annual meeting on May 21, 1997
The company's 1998 Step-Up Warrants also would be adjusted to reflect the stock split. 1998 Step-Up Warrant holders would receive one additional warrant for each warrant they currently hold, and the exercise price of the warrants would be adjusted to reflect the stock split. Following the adjustment, each outstanding 1998 Step-Up Warrant would entitle the holder to buy one share of Intel Common Stock at one-half of the per-share prices specified in the May 5, 1995 Notice to Warrant Holders. The warrant distribution would take place at the same time as the stock distribution and is similarly subject to the condition that the stockholders approve the increase in authorized shares at the company's annual meeting.
The warrants expire on March 14, 1998. Since this date falls on a Saturday, the warrants must be exercised prior to the close of business on Friday March 13, 1998.
Stockholders and warrantholders of record on June 10, 1997 will be entitled to one additional share or warrant for each share or warrant held on that date. The payment date, or the date on which new shares and new warrants will be mailed from the company's transfer agent, Harris Trust and Savings Bank, will be July 13, 1997. Copies of this press release can be obtained by calling Intel's transfer agent, Harris Trust and Savings Bank, at 800/298-0146 or via the Internet (Address: intel.com.
Intel, the world's largest chip maker, is also a leading manufacturer of personal computer, networking, and communications products. Additional information is available at www.intel.com/pressroom .
CONTACT: Intel
Howard High, 408/765-1488 (Press Relations)
Gordon Casey, 408/765-1480 (Investor Relations) |
