AVE JOE,
If this happens and Tibco announces anther split this one will be long gone!!
2/28/00 3:27:29 PM
Following 3-For-1 Split, Tibco Seeks Quadrupling Of Shares (
(NewsTraders) Following 3-For-1 Split, Tibco Seeks Quadrupling Of Shares (
Following 3-For-1 Split, Tibco Seeks Quadrupling Of Shares (TIBX)
(NewsTraders.com)--Hot on the heels of a three-for-one stock split that occurred
in mid-February, Tibco Software (TIBX) has indicated it will seek permission
from shareholders to quadruple the number of common shares it is authorized to
issue to a whopping 1.2 billion, according to preliminary proxy materials
released today by the SEC.
Tibco also hopes to increase the preferred stock it has on hand to 75 million
shares.
The company did not give a specific reason it seeks the additional securities,
other than the boilerplate generally found in such filings -- stating that the
extra stock will give the company flexibility for actions like future stock
splits, financings, employee benefit plans, acquisitions and so forth.
The company is currently authorized to issue 300 million shares of common stock
and 25 million shares of preferred.
As of Feb. 21, 182.7 million shares of common stock were outstanding and an
additional 66 million shares were reserved for issuance upon the exercise of
options and awards.
Tibco's annual meeting will be held on April 12, at the company's headquarters
in Palo Alto, Calif., the filing said.
Tibco, which develops software that enables businesses to link internal
operations, business partners and customer channels in real time, was a unit of
media giant Reuters Group plc (RTRSY) until it was spun off in July 1999.
Reuters now owns a 62.5% stake in Tibco, while networking notable Cisco Systems
(CSCO) owns 7.2%.
Today, Tibco shares have soared $13.19 to $108.00.
Copyright 2000 NewsTraders Inc. All Rights Reserved
15:27 Monday, February 28, 2000 |
