To: giddy guru who wrote (2167 ) 4/3/1998 8:01:00 PM From: Dan Respond to of 5827
As I remember this news release was at 1500 today ------------------------------------------------------------------------ NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: BALLARD POWER SYSTEMS INC. TSE SYMBOL: BLD NASDAQ SYMBOL: BLDPF APRIL 3, 1998 Ballard Announces Proposed 3-For-1 Stock Split VANCOUVER, BRITISH COLUMBIA--Ballard Power Systems announced today that its Board of Directors has authorized a 3-for-1 stock split, subject to regulatory approval and shareholder approval at the Annual Meeting scheduled for May 21 in Vancouver, BC. "Splitting the stock will improve its trading liquidity and help ensure that it trades in a price range that is accessible to a broad base of investors," said Mossadiq S. Umedaly, Vice President and Chief Financial Officer of Ballard. "We are pleased with our investors' endorsement of the Ballard's future prospects, and we continue to focus on building shareholder value through the development and commercialization of our products." Ballard Power Systems is the world leader in the development of proton exchange membrane fuel cell power systems. At the heart of its products is the Ballard Fuel Cell, a proprietary zero-emission engine that converts natural gas, methanol, gasoline, or hydrogen fuel into electricity without combustion. Ballard Fuel Cells are currently being used by leading international companies including Daimler-Benz, Ford, General Motors, Chrysler, Nissan, Honda, Volkswagen, Volvo, Matsushita Electric Works, GPU International, GEC ALSTHOM, and Cinergy to develop zero-emission vehicles, clean stationary electric power plants and portable power systems. Ballard's Common shares are listed on The Toronto Stock Exchange under the trading symbol "BLD" and on the Nasdaq National Market System under the symbol "BLDPF". -30- ------------------------------------------------------------------