MRV Announces 2-for-1 Stock Split

MRV Announces 2-for-1 Stock Split

March 3, 2000

1 Min Read

MRV Communications Inc. (Nasdaq:MRVC), a world-class leader in optical network components and systems, today announced that its board of directors has authorized a 2-for-1 stock split of its outstanding common stock and an amendment to its Certificate of Incorporation to increase its authorized common stock proportionately, from 80 million to 160 million shares.

Both the increase in authorized common stock and the stock split are subject to approval by MRV's stockholders.

MRV plans to schedule a special stockholders meeting to vote on the increase in authorized common stock and the stock split, and expects to hold that meeting in the second quarter of this year. The record date for the special meeting of the stockholders will be announced later.

Upon completion of the stock split, the number of shares of common stock outstanding will be approximately 57,100,000 (assuming no exercise of stock options or warrants, conversion of notes, and excluding share issuances in connection with the FOCI acquisition or other new stock issuances by the company prior to the effective date of stock split).

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