Rambus Proposes 4-For-1 Stock Split
Business Wire - March 10, 2000 08:17
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--March 10, 2000--Rambus Inc. (Nasdaq:RMBS) today announced that its board of directors has approved a four-for-one split of its common stock.
The split is subject to stockholder approval of an increase in the company's authorized shares of common stock to 500 million shares.
Stockholders will vote on the proposed increase at a special meeting of the company's stockholders to be held on May 23, 2000. The stock split would increase the number of Rambus common shares outstanding from approximately 24 million to approximately 96 million.
The record date for the special meeting is March 30, 2000. Subject to stockholder approval, the record date of the stock split is expected to be May 24, 2000 and the mailing date of certificates representing the additional shares is expected to be approximately June 14, 2000.
Assuming approval by the stockholders, the company expects its common stock to begin trading on a post-split basis on approximately June 15, 2000. Each of these dates is subject to the timing of any review by the Securities and Exchange Commission of proxy materials for the special stockholders meeting.
Rambus Inc. develops and licenses high-bandwidth chip connection technologies to enhance the performance of computers, consumer electronics and communications products. Providers of Rambus-based integrated circuits include the world's leading DRAM, ASIC and PC controller manufacturers.
CONTACT: Rambus Inc.
Gary G. Harmon, 650/944-8000 (Senior VP, Finance & CFO)
Susan Berry, 650/944-7900 (Manager, Treasury Operations)