To: Dealer who wrote (14753 ) 4/18/2000 8:09:00 AM From: Dealer Read Replies (1) | Respond to of 35685
RNWK--DJ RealNetworks Seeks To Boost Auth Shrs To 1B From 300M 04/17/2000 Dow Jones News Services (Copyright ¸ 2000 Dow Jones & Company, Inc.) WASHINGTON (Dow Jones)--RealNetworks Inc. (RNWK) seeks shareholder approval to increase the company's authorized common shares to 1 billion from 300 million, according to the company's preliminary proxy statement filed Monday with the Securities and Exchange Commission. The proposal will be voted on at RealNetworks' annual shareholders meeting scheduled June 2. The company's board indicated in the filing that the proposed increase would give RealNetworks more flexibility to maintain a "reasonable" stock price with future stock splits and dividends. In addition, the company's board said the increase would allow RealNetworks to obtain additional capital, purchase property, use in various equity compensation and other employee benefit plans, or other corporate purposes without further shareholder approval. RealNetworks didn't specify any current plans, commitments, or agreements to issue the additional shares. Also at the meeting, shareholders will elect one director to serve on the company's board for a three-year term and will ratify the appointment of KPMG L.L.P. as RealNetworks' independent auditor for the year ending Dec. 31. Shareholders of record at the close of business on April 3 are entitled to vote at the meeting. As of April 3, the company had 154.4 million common shares outstanding. RealNetworks, Seattle, develops and markets products and services that enable users of personal computers and other consumer electronic systems to send and receive audio and video services on the Internet. -Gee L. Lee, Dow Jones Newswires/Federal Filings Business News; 202-628-7681 (END) DOW JONES NEWS 04-17-00