Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: chic_hearne who wrote (108090)	4/27/2000 2:03:00 PM
From: brushwud	of 1573891

I don't get this "authorized enough shares". If you do a 2 for 1 split, why do you need to authorize shares? Check out AMD's 10-K. As has been previously discussed, AMD has 250 million shares authorized. There are 152 million shares outstanding and, also according to the 10-K, options (including conversion options from the Subordinated Notes) exist on over 40 million shares. With today's approval of an additional 7.5 million shares for employee stock options, the total of shares outstanding and options granted is about 200 million. In order for AMD to split 2-1, at least 400 million shares need to be authorized & probably more to give them a little bit of headroom. The business of authorizing more shares is just a little procedural detail, but it must be approved by shareholders. Frankly, I'm surprised AMD didn't get it into the proxy this year. Intel did, and they haven't announced any split yet. They're just prepared in case they want to issue more shares.

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