I like MEDI and bot some today as the general market sell off filled the up gap created when MEDI announced the 3/1 split last week. Been reading their annual report and this is truly a stellar company from all i can see.
MedImmune Shareholders Clear the Way for Three-for-One Stock Split
GAITHERSBURG, Md., May 18, 2000 /PRNewswire via COMTEX/ -- MedImmune, Inc.
(Nasdaq: MEDI) announced today that at its Annual Shareholders' Meeting,
shareholders voted to increase the number of authorized shares of MedImmune
common stock from 120 million to 320 million. This action was a prerequisite for
the company's previously announced three-for-one stock split to proceed.
MedImmune's three-for-one stock split will be paid in the form of a 200- percent
stock dividend to all shareholders of record at the close of business on May 18,
2000. This stock dividend provides shareholders two additional shares for every
share owned. Distribution of the new shares will occur on or about Friday, June
2, 2000. Shareholders who hold their stock in a brokerage account, will receive
their new shares through their broker who will credit their account.
Shareholders who maintain physical possession of their stock certificates will
have their additional shares mailed to them. The company's stock will begin
trading at the post-split price on Monday, June 5, 2000. Any shares traded
between May 18 and June 5 will come with a "due-bill" entitling the buyer to two
additional shares for each share purchased that will be distributed on or about
June 7.
As of March 31, 1999, MedImmune had approximately 70 million shares of common
stock outstanding. Following the split, the company will have approximately 210
million shares outstanding. |
