GENROCO (GRCI)and VideoPropulsion Announce Stock Splits After Spinoff
Companies Strive to Increase Trading Volume, Shareholder Base
SLINGER, Wis., June 29 /PRNewswire/ -- GENROCO, Inc. (GENROCO)
(OTC Bulletin Board: GRCI), a world leader in Storage Area Network (SAN)
technology along with its digital video transport subsidiary, VideoPropulsion,
Inc. (VPI), which will be spunoff to shareholders on Friday, announced that
both companies will split their respective stocks the following Monday.
GENROCO shareholders of record as of June 30, 2000 will receive a dividend
of one share of VideoPropulsion for each share of GENROCO owned. There are
now approximately 4.6 million shares of GENROCO outstanding. GENROCO will
undertake a 2 for 1 forward split and VPI will do a 4 for 1 forward split.
Owners of GENROCO stock on July 3 will receive one new share of GENROCO
common stock for each share that they hold, thereby doubling the amount of
outstanding stock. Upon completion of the stock split, there will be
approximately 9.2 million shares of GENROCO outstanding with about 2 million
shares in the "float." GENROCO executed a 3 for 1 split last fall.
VPI shareholders of record on July 3 will take in an additional three
shares of VPI stock for each VPI share, thus increasing the number of
outstanding shares by a factor of four to roughly 18.4 million shares.
Management now expects VPI shares to be listed on the OTC Bulletin Board in
early July.
The Boards of Directors of the two firms are performing the stock splits
in order to increase the number of their tradable shares and reduce the price
of a minimum one hundred share block of stock for small investors.
About GENROCO
GENROCO, Inc. is a 25-year-old, publicly traded engineering and marketing
company that specializes in developing I/O solutions for users of high
performance storage area networks (SANs). By providing cross-platform support
for its patented technology, the Company is able to offer unique,
extraordinarily high bandwidth and low host overhead products for these
markets. GENROCO enjoys a global customer base that includes Compaq, Fujitsu,
SGI, Sun, StorageTek, the U.S. Departments of Defense and Energy, CERN, and
other research institutions.
Additional information about GENROCO can be found at www.genroco.com.
About VideoPropulsion
VideoPropulsion, Inc. is a leading edge digital video technology company
with expertise in providing high performance, low cost hardware & software
solutions for MPEG transport. The company's partners include Oracle, SGI,
Compaq, Sun, Lysis, Mindport, and other major video server and iDTV
applications suppliers. VDOPro products have been in active use in Europe
since 1995. Incorporated into offerings from OpenTV, Concurrent, Open, Lysis,
Peach, and others for applications such as interactive TV services and VOD,
VPI has been leading the way with its reliable and innovative products.
Additional information about VideoPropulsion can be found at
www.videopropulsion.com .
This release contains forward-looking statements based on current
expectations that involve a number of risks that could cause actual results to
differ materially. Information on the factors that might affect the financial
results of GENROCO, Inc. and/or VideoPropulsion, Inc. can be found in the
respective company's filings with Securities and Exchange Commission (SEC).
CONTACT: Carl Pick, Chairman & CEO of GENROCO, Inc., 414-732-7433, Fax
262-644-6667, web genroco.com or Email carl@genroco.com.
This release was issued through DigitalWork.com -- Your Business Workshop.
More information on DigitalWork.com may be found at
digitalwork.com .
SOURCE GENROCO, Inc.
/CONTACT: Carl Pick, Chairman & CEO of GENROCO, Inc., 414-732-7433,
Fax262-644-6667, or Email carl@genroco.com/
/Web site: digitalwork.com /
/Web site: videopropulsion.com /
/Web site: genroco.com /
Jun-29-2000 10:54 GMT
Symbols:
US;GRCI
Source PRN PR NewsWire
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