OCLI BoD approves 2-for-1 split:
biz.yahoo.com
biz.yahoo.com
SANTA ROSA, Calif., Sept. 21 /PRNewswire/ -- Optical Coating Laboratory, Inc. (OCLI) (Nasdaq: OCLI - news) today announced that its Board of Directors has approved a two-for-one stock split, to be effected in the form of a stock dividend, subject to stockholder approval of an increase in the Company's authorized shares of common stock to 100 million shares. Approval will be sought at a Special Meeting of Stockholders to be held on November 5, 1999 (for which the Record Date will be September 23, 1999). Subject to receiving stockholder approval, the Record Date for the stock split will be November 8, 1999 and, thereafter, on November 30, 1999, OCLI's transfer agent will mail certificates representing one additional share for each share held on the Record Date. Should stockholder approval be obtained, the stock split will increase the number of shares outstanding from approximately 14.2 million shares to approximately 28.3 million shares.
Charles J. Abbe, OCLI's President and Chief Executive Officer, commented, ''We are pleased to offer this stock dividend in response to the market demand for our common stock over the past year. The dividend will broaden the distribution and improve the marketability of OCLI's common stock.''
Except for historical information contained herein, the matters set forth in this press release, such as statements relating to OCLI's ability to successfully exploit technological and market developments, the timing and success of new product introductions by us and our competitors, and our ability to invest in new technologies and to enhance existing systems, are forward-looking statements that are subject to risks and uncertainties, including the impact of competitive products and pricing and alternative technological advances, the timely and successful development and market acceptance of new products and upgrades to existing products and other risks as detailed from time to time in OCLI's SEC filings, including our most recent Registration Statement on Form S-3 and Forms 10-K and 10-Q.
OCLI is a worldwide leader in the manufacture of optical thin film coatings and components used to manage light. OCLI's products control and enhance light to achieve specific effects such as reflection, refraction, absorption, abrasion resistance, anti-glare and electrical conductivity. End market applications include fiber optic telecommunications, space satellites, computer monitors, flat panel displays, projection display systems, photocopiers, fax machines, scanners and medical and analytical instruments. Through its subsidiary, Flex Products, Inc., OCLI manufactures color shifting pigments for use on high value documents, such as currency, and as a special effects pigment for paint and other consumer products. For more information about OCLI, visit our Web site at www.ocli.com .
SOURCE: Optical Coating Laboratory, Inc.
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