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Non-Tech : Charles Schwab (SCH) -- A tech-stock profile? -- Ignore unavailable to you. Want to Upgrade?

To: Michael Delugg who wrote (562)	5/1/1999 11:57:00 AM
From: stock_bull69	Respond to of 1390

Just received the SCH supplement to the 1999 Proxy Statement in the mail yesterday and it's purpose is as follows: a. The company's board of directors conditionally approved a two-for-one stock split of its common stock, to be effected in the form of a 100% stock dividend, payable July 1,1999 to stockholders of record at the close of business on June 1, 1999. The stock split will become effective only if stockholders approve the proposed amendment to the Company's Certificate of Incorporation to increase the number of authorized shares of common stock from 500 million to 2 billion. The vote on the proposed amendment will take place at the annual meeting of Schwab stockholders on May 17th, 1999. You can find information on the proposed amendment in the proxy statement under "Proposals to be voted on". The proxy is available on the internet at schwab.com Other than the newly proposed stock split, the Company is not presently negotiating with anyone concerning the issuance or use of any of the additional authorized shares of common stock and has no present arrangement, understandings or plans concerning the issuance or use of the additional authorized shares. b. Purpose and Effects of the Proposed Two-For-One Stock Split 1. The Board anticipates the a two-for-one stock split of Company common stock will place the market price of the common stock in a range more attractive to investors, particularly individuals, and may result in a broader market for the shares. The Company will apply to list the additional shares of common stock, resulting from the stock split, with the stock exchanges on which the Company's common stock is currently listed (the New York Stock Exchange and the Pacific Exchange). The rest of the Supplement goes on to go over Federal Income Tax Consequences (none in the US), Effects on Stock Plans, Par Value, Accounting Treatment, Stock Certificates, and procedures for changing your vote. Again I suggest you go the the URL I posted earlier for the complete verbage of the Supplement. Steve