Sponsored By

JDSU Prepares Reverse Split

The results of the company's annual shareholders meeting include approval of a reverse split for the stock

December 2, 2005

1 Min Read

SAN JOSE, Calif. -- JDSU (Nasdaq: JDSU - News; TSX: JDU - News) today announced the results of its Annual Stockholder Meeting held on December 1, 2005. Stockholders approved all three proposals presented for consideration.

First, stockholders re-elected Mr. Richard T. Liebhaber and Mr. Casimir S. Skrzypczak to serve on JDSU's board of directors for a three year term ending in 2008.

The second proposal approved by stockholders authorized the JDSU board to effect a reverse stock split of the outstanding shares of the Company's common stock and the outstanding Exchangeable Shares issued by its subsidiary JDS Uniphase, Inc., in the range of one-for-eight to one-for-ten. The decision to effect a reverse stock split, the timing of the same, and which of the approved split ratios to effect, will be at the discretion of our Board of Directors and can be implemented at any time prior to December 1, 2006. The authorization expires after this date.

Finally, stockholders ratified the appointment of PricewaterhouseCoopers LLP as JDSU's independent public accounting firm for the fiscal year ending June 30, 2006.

JDS Uniphase Corp.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like