EAI Declares Three-For-Two Stock Split
PR Newswire - February 02, 1998 08:03
EAII %CPR V%PRN P%PRN
Stock Split Will Broaden EAI's Ownership Base and Increase Number of Shares
Available for Trading
AMES, Iowa, Feb. 2 /PRNewswire/ -- The Board of Directors of Engineering
Animation, Inc. (Nasdaq: EAII), today announced a three-for-two stock split in
the form of a stock dividend on the common stock, payable to stockholders of
record on February 12, 1998. For every two shares of EAI common stock held on
the record date, each stockholder will receive one additional share.
Certificates representing the additional shares will be mailed on February 27,
1998.
"This three-for-two stock split reflects EAI's excellent performance as
well as our confidence in the future profitable growth of EAI," said EAI
President and CEO Matthew Rizai. "We believe that the stock split will
provide benefits to stockholders through broadening the stockholder base and
increasing the public float, both of which will increase liquidity for our
stockholders."
Stockholders are advised that the three-for-two split will increase their
number of shares in the Corporation, but will not change their proportionate
stockholder's interest. The old certificates now in stockholders' possession
are valid and should not be destroyed nor should they be returned to the
Corporation. They continue to represent the number of shares shown on their
face. Fractional shares will not be issued. Stockholders entitled to a
fractional share will receive a cash payment equal to the market value of the
fractional share at the close of the market on the record date.
About EAI
EAI is a leading producer of enterprise-wide product data visualization
and collaboration software solutions for major manufacturing corporations.
EAI's VisProducts(TM) improve product understanding and reduce the time to
market by identifying product defects early in the design cycle. EAI's
Interactive Division is a leading provider of interactive products created for
corporations and publishers. EAI's corporate headquarters and technology
center are located in Ames, Iowa, with offices worldwide.
For more information about EAI, visit www.eai.com or call 800-EAI-7760 or
515-296-9908.
SOURCE Engineering Animation Inc.
/CONTACT: Jamie Wade, 515-296-6942, jamie@eai.com or Erica Brizzi,
515-296-6719, brizzi@eai.com, both of EAI/
/Web site: eai.com
(EAII) |
