Broadvision Inc.
BroadVision Inc. english
BroadVision, Inc. Announces 1 for 9 Reverse Stock Split
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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BroadVision, Inc. Announces 1 for 9 Reverse Stock Split
REDWOOD CITY, Calif. – July 24, 2002 – BroadVision, Inc. (Neuer Markt: BDN /
Nasdaq: BVSN), a leading provider of enterprise portal applications, today
reported that its Board of Directors has approved a 1-for-9 reverse split of the
company’s common stock. The reverse stock split will be effective as of 8:00
p.m. EDT on Monday, July 29, 2002 (i.e. as of 2:00 a.m. CEST on Tuesday July 30,
2002), and each nine shares of outstanding common stock of the company will
automatically convert into one share of common stock. This reverse stock split
will reduce the number of shares outstanding to approximately 32.2 million from
about 289.5 million. The par value of the shares (US-$ 0.0001 per share) will
not be affected by the reverse stock split. The company’s common stock will
begin trading on a post-split basis at the opening of trading on the Neuer Markt
of the Frankfurt Stock Exchange and the Nasdaq National Market on July 30,
2002.
Fractional shares of stock will not be issued as a result of the reverse split.
Stockholders who would otherwise receive a fractional share of common stock will
be entitled to receive an equivalent amount of cash in lieu of fractional
shares. Such compensation of fractions, which will take place approximately
three weeks after the effectiveness of the reverse stock split, is carried out
in Germany by Clearstream Banking AG by selling the respective amount of
fractional shares in the market.
BroadVision Investor Relations Contact:
Bob Okunski
BroadVision Investor Relations
Phone: +001-650-542-4659
E-mail: bob.okunski@broadvision.com
end of ad-hoc-announcement (c)DGAP 24.07.2002
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WKN: 901599; ISIN: US1114121023; Index: NEMAX 50
Listed: Neuer Markt Frankfurt, Freiverkehr in Stuttgart, München, Berlin,
Bremen, Hamburg, Düsseldorf, Hannover
242206 Jul 02
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