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Albany Molecular Research Inc. Message Board

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  • nelson481 nelson481 Aug 9, 2000 11:20 AM Flag

    re: "stock split"

    shareholder approval.....there are only 50,000,000 shs authorized, used some for enzymed plus the split plus options.. not enough shs in the kitty for a 2 for one

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    • have to believe directors, if not someone is going to take a hit. the shareholders. plenty of shares sold by insiders lately.

    • Here's the announcement from Yahoo
      news:

      Albany Molecular sets 2-for-1 stock split
      ALBANY,
      N.Y., Aug 7 (Reuters) - Chemistry research and
      development firm Albany Molecular Research Inc.
      (NasdaqNM:AMRI - news) on Monday said its board of directors
      approved a 2-for-1 stock split on the company's common
      stock.

      The stock split, which will be paid out as a
      dividend, entitles each shareholder to receive a stock
      dividend of one additional share of Albany Molecular
      common stock.

      The dividend will be paid on Aug.
      24 to shareholders of record at the close of
      business on Aug. 8.

      The Albany, N.Y.-based company
      also reported a 58 percent increase in its net income
      for the second quarter to $5.9 million, or 38 cents a
      share pre-stock split, from $3.7 million, or 25 cents
      pre-stock split.

      Revenues for the quarter rose 51
      percent to $16.6 million from $11.0 million in the same
      quarter last year. Shares of Albany Molecular rose 1-1/8
      to close at 52-3/4 on the Nasdaq stock market.

    • Nelson,

      Here's the detail of the
      split...

      The Company's transfer agent on August 24, 2000 will
      distribute the additional shares resulting from the stock
      split. The Company currently has approximately 14.9
      million shares outstanding. Upon completion of the split,
      that number will increase to approximately 29.8
      million shares.

      AMRI merged with Enzymed for
      726056..

      Bully

 
AMRI
21.82-0.36(-1.62%)10:16 AMEDT

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