Ann,
Check this nes story out, it will answer the question...
The split issue is still open, let's see what happens on Aug 26th.
AI
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Wednesday July 2 11:33 AM EDT
Company Press Release
Helen of Troy preliminary proxy proposes share
increase
If approved, board may consider 2-1 stock split
EL PASO, Texas--(BUSINESS WIRE)--July 2, 1997--Helen of Troy Ltd. (NASDAQ,
NM: HELE), developer, designer and marketer of personal care products, today filed with
the Securities and Exchange Commission a preliminary proxy statement for its annual
shareholders meeting scheduled for Aug. 26, 1997, at which shareholders will be asked to
approve a recommendation by the company's board of directors that authorized common
shares be increased to 50 million from 25 million.
Subject to approval of the share increase, the board of directors has indicated it may
consider declaring, after the company's shareholder meeting, a two-for-one stock split to
be paid as a 100 percent stock dividend, but there is no assurance that a split will be
approved or effected. The additional common shares would also be available for future
acquisitions, stock dividends or other stock distributions.
Helen of Troy last declared a stock split on June 5, 1996, which was paid on July 1, 1996
as a 100 percent stock dividend on common stock. As of June 30, 1997, there were
13,289,666 issued and outstanding common shares of the company.
Helen of Troy designs, produces and markets brand-name hair dryers, curling irons, hair
setters, women's shavers, brushes, combs, hair accessories, artificial fingernails, and
``comfort products'' such as foot baths. Helen of Troy products are sold primarily through
mass merchandisers, drug chains, warehouse clubs and grocery stores under the trade
names Vidal Sassoon, Revlon, Dazey, Dr. Scholl's, Richard Caruso and Celeste. The
company also markets products under the Helen of Troy, Hot Tools, Salon Edition and
Gallery Series trademarks to beauty salon distributors. |
