Brocade Completes Reverse/Forward Stock Split
28 6월 2007 - 4:57AM
PR Newswire (US)
Company Stock Ticker on NASDAQ Currently Trading Under BRCDD SAN
JOSE, Calif., June 27 /PRNewswire-FirstCall/ -- Brocade(R)
(NASDAQ:BRCD), the leader in networked storage solutions that help
enterprises connect and manage their information, today announced
the completion of a Reverse/Forward stock split, designed to reduce
the number of stockholders with less than 100 shares in the
Company's stock by exchanging their shares for cash. As a result of
the corporate action, Brocade's stock ticker symbol (BRCD) will
have a fifth character, "D" (BRCDD) for approximately 20 trading
days following the corporate action. The Company expects the stock
ticker symbol will return to BRCD on July 26, 2007. As previously
disclosed in the Company's quarterly report on Form 10-Q for the
quarter ended April 28, 2007, at the Annual Meeting of Stockholders
held on April 19, 2007, the Company's stockholders approved a
proposal to amend the Company's Amended and Restated Certificate of
Incorporation to effect a 1-for-100 reverse stock split (the
"Reverse Split") immediately followed by a 100-for-1 forward stock
split of the Company's Common Stock (together with the Reverse
Split, the "Reverse/Forward Split"). Effective June 26, 2007, the
Company implemented the Reverse/Forward Split by filing amendments
to its Amended and Restated Certificate of Incorporation with the
Secretary of State of the State of Delaware. For stockholders that
held less than 100 shares of Common Stock prior to the Reverse
Split, shares of Common Stock that would have been converted into
less than one share in the Reverse Split were instead converted
into the right to receive a cash payment equal to $8.44 per share,
an amount equal to the average of the closing prices per share of
Common Stock on the Nasdaq Global Select Market for the period of
ten consecutive trading days ending on (and including) the
effective date. For stockholders that held 100 or more shares of
Common Stock in their account prior to the Reverse Split, any
fractional share in such account resulting from the Reverse Split
were not cashed out and the total number of shares held by such
holder did not change as a result of the Reverse/Forward Split.
About Brocade Brocade is the leading provider of networked storage
solutions that help organizations connect, share, and manage their
information. Organizations that use Brocade products and services
are better able to optimize their IT infrastructures and ensure
compliant data management. For more information, visit the Brocade
Web site at http://www.brocade.com/ or contact the company at .
Brocade, the Brocade B-wing logo ,Fabric OS, File Lifecycle
Manager, MyView, Secure Fabric OS, SilkWorm, and StorageX are
registered trademarks and the Brocade B-weave symbol and Tapestry
are trademarks of Brocade Communications Systems, Inc., in the
United States and/or in other countries. FICON is a registered
trademark of IBM Corporation in the U.S. and other countries. All
other brands, products, or service names are or may be trademarks
or service marks of, and are used to identify, products or services
of their respective owners. DATASOURCE: Brocade CONTACT: media,
Leslie Davis, +1-408-333-5260, , or investors, Darby Dye,
+1-408-333-5752, , both of Brocade; or Ian Yellin of Ogilvy PR,
+1-415-677-2714, , for Brocade Web site: http://www.brocade.com/
Copyright