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Stock Splits

BUSINESS
December 8, 1998 | (P.J. Huffstutter)
The board of directors of Lake Forest-based Telenetics Corp. has approved a 1-to-5 reverse stock split, dropping the number of shares of common stock outstanding to 9 million from 45 million, the company said Monday. The split is an attempt to repackage the company's capital structure to "attract a larger potential investor base," said Telenetics Chief Executive Michael Armani.
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BUSINESS
September 29, 1998
AMDL Inc., Tustin-based maker of diagnostic kits to detect cancer and other diseases, said its shareholders have approved a 1-for-20 reverse stock split. The stock, which trades over the counter, closed Monday at 6 cents a share.
BUSINESS
February 6, 1998 | Dow Jones
Bikers Dream Inc. declared a 1-for-5 reverse stock split effective Thursday. The company said it has about 3.85 million shares outstanding after the reverse split. The company said it filed to be listed on the Nasdaq Small Cap market, and it declared the reverse split to meet Nasdaq's initial standards. Bikers Dream, which is traded over-the-counter, makes heavyweight cruiser motorcycles.
CALIFORNIA | LOCAL
December 14, 1999
Jerry's Famous Deli, Studio City, said its board of directors has proposed a 1-for-3 reverse stock split to avoid delisting from the Nasdaq National Market on Dec. 27. The company intends to file an appeal with Nasdaq in order to maintain its current listing until a plan is in place to move to the Nasdaq SmallCap Market. If the company is delisted, it would be forced to move to the OTC Bulletin Board. Jerry's Famous Deli operates restaurants in Southern California and Florida.
BUSINESS
November 25, 1998 | Bloomberg News
Merck & Co., the world's biggest drug maker, said it will split its stock 2-for-1 in February, its first split since 1992, as prospects for its new painkiller push its shares to record prices. Merck said it has filed with the Food and Drug Administration for approval of its drug Vioxx, which appears to treat pain and swelling without irritating the stomach. Analysts estimate the drug could top $1 billion in annual sales. Although rival Monsanto Co.
CALIFORNIA | LOCAL
March 16, 1999
Sylmar-based MiniMed Inc. on Monday announced a 2-for-1 stock split in which the company will issue one additional share of common stock for every share of common stock outstanding. The stock split, which will increase the total number of fully diluted shares outstanding to about 14 million, will be effective April 1 for shareholders of record at the close of business on that date and will be distributed April 16. Alfred E.
BUSINESS
October 7, 1997
Trio-Tech International of San Fernando announced that a 3-for-2 split of its common stock became effective Oct. 1. The split will be paid in the form of a 50% stock dividend to be distributed beginning Wednesday to shareholders of record at the close of business Sept. 30.
BUSINESS
September 26, 2001 | Times Staff and Wire Reports
Irvine Sensors Corp. shareholders approved a 1-for-20 reverse stock split, which takes effect today, in response to Nasdaq warnings that the shares could be delisted for falling below the $1 minimum price requirement. The Costa Mesa electronics products maker's stock, which has lost more than 88% of its value this year, closed Tuesday at 14 cents, off 4 cents a share, on the Nasdaq SmallCap market.
BUSINESS
March 11, 2000 | Bloomberg News, Times Staff
Investors are practically doing cartwheels over companies doing stock splits. Rambus Inc. (RMBS), which develops technology to make computer chips work faster, said Friday that it will split its shares 4-for-1, and the news sent its stock up 11% to a record. The Mountain View, Calif., company's shares surged $41.55 to $421. The split, expected to occur May 24 for shareholders of record March 30, will be the company's first since it sold shares to the public in 1997 at $12 apiece.
BUSINESS
November 7, 1997 | (Bloomberg News)
Varco International Inc. said it approved a 2-for-1 stock split and adopted a shareholder rights plan to defend against unwanted takeover efforts. The maker of oil- and gas-well drilling products said its stock split is payable Dec. 4 to shareholders of record Nov. 20. Under the shareholder rights plan, shareholders will receive one right to purchase preferred stock for each share of common stock.
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