Air Methods Corporation Board Approves 3 For 1 Stock Splid
Air Methods Corporation (Nasdaq: AIRM), the global leader in air medical transportation, today announced that its Board of Directors approved a three-for-one stock split of the Company's common stock.
Implementation of the stock split is subject to approval by the Company's shareholders of an increase in the number of authorized shares from 28.5 million to 85.5 million. These matters will be voted on at a special shareholder meeting anticipated to be held on or around November 19, 2012. Each shareholder of record on the close of business on the record date will receive two additional shares of common stock for each share held on such date.
This will be the first stock split in the Company's history. Additional details of the special meeting and the proposed split will be included in a proxy statement, which will be distributed in connection with the special meeting.
"We are pleased with the Company's strong business performance and the long-term value that it has delivered to our shareholders and believe this stock split may broaden our investor base," said Aaron Todd, the Company's Chief Executive Officer and member of the Company's Board of Directors. Mr. Todd added that, "The stock split further reflects the Company's continued confidence in its ability to generate long-term growth and financial performance."
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.