FROM INVESTOR RELATIONS: "The Sun Microsystems, Inc. proposed stock split is subject to stockholder
approval. Please see the press release included below:
If approved, if you own Sun Microsystems, Inc. stock on March 18, 1999, you will
participate in the two-for-one stock split based on the closing price on March
18, 1999. This means you will end up with twice the number of shares you own on
March 18, 1999 at half the closing price of March 18, 1999.
Although the stock split is legally effective on the Record Date
(March 18, 1999), the trading price of the stock on the Nasdaq National
Market will not reflect the split until April 9, 1999, the day after
the Payment Date (the ''Ex-Date''). In between March 18, 1999 and
April 8, 1999, trading will generally occur on the same basis as it did
prior to the announcement of the split.
Of course, as of April 9, 1999 (the day after the Payment Date),
trading will reflect the split and therefore the Company's Common Stock
will be trading at half the prior price.
The transfer agent "delivers" these additional shares on April 8, 1999 to you
if you own them in certificate form or to your brokerage account if you own them
in "street name."
Norelle Tavrow
Investor Relations
Sun Microsystems, Inc.
Here's the press release:
SUN MICROSYSTEMS, INC. ANNOUNCES A
TWO-FOR-ONE STOCK SPLIT
PALO ALTO, California -- January 21, 1999 -- Sun Microsystems, Inc,
(NASDAQ: SUNW) today announced that its Board of Directors has
approved a two-for-one stock split, to be effected in the form of a stock
dividend, subject to shareholder approval of an increase in the Company's
authorized shares of Common Stock to 1.8 billion shares. Such approval will
be sought at the Company's Special Meeting of Stockholders to be held on
March 17, 1999 (the Record Date for which will be January 21, 1999).
Subject to receiving such stockholder approval, the Record Date for the
stock split will be March 18, 1999 and thereafter, on April 8, 1999, the
transfer agent will mail certificates representing one additional share for
each share held on this Record Date. Should stockholder approval be
obtained, the stock split will increase the number of shares outstanding from
approximately 385,265,000 to 770,530,000 shares.
Michael Lehman, Sun's Vice President of Corporate Resources and Chief
Financial Officer, commented, "The stock dividend is in response to the
increase in the market price for Sun's Common Stock over the last several
months. The dividend will decrease the price per share, broadening the
distribution and improving the marketability of Sun's Common Stock."
About Sun Microsystems
Since its inception in 1982, a singular vision, "The Network Is The
ComputerTM," has propelled Sun Microsystems, Inc. (NASDAQ: SUNW), to
its position as a leading provider of high quality hardware, software and
services for establishing enterprise-wide intranets and expanding the power
of the Internet. With more than $10.5 billion in annual revenues, Sun can be
found in more than 150 countries and on the World Wide Web at sun.com " |
