ASTeX Announces 3-FOR-2 Stock Split.WOBURN, Mass.--(BUSINESS WIRE)--Oct. 21, 1997--Applied Science and Technology, Inc. ("ASTeX") (Nasdaq: ASTX) today announced a 3-for-2 stock split of its Common Stock to be effected in the form of a stock dividend, pending shareholder approval to increase the total number of shares authorized Shares authorized The maximum number of shares of stock of a company allowed in the articles of incorporation, which may be changed only by a shareholder vote. See: Issued and outstanding. shares authorized See authorized capital stock. at the Company's Annual Meeting of Shareholders November 20, 1997. Following approval, each shareholder of record at the close of business on November 28, 1997 will receive a stock dividend at the rate of one share of Common Stock for every two shares of Common Stock owned. Shareholders will not be entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to receive any resulting fractional shares Fractional share Stocks amounting to less than one full share, usually resulting from splits, acquisitions, exchanges, or dividend reinvestment programs. fractional share Less than one share of stock, that is, one-third or one-half a share. , but will receive the value of any such fractional shares in cash. Dr. Richard Post, President and Chief Executive Officer, stated, "The Company is continuing to see improved bookings from our major customers and we look forward to expansion in our product lines and our worldwide business. This stock split is indicative of the price appreciation of the last few months of the Company's Common Stock. We are pleased with the Company's operating results and the stock market's recognition of our accomplishments. We expect that our shareholders will also benefit from the increased shares outstanding through anticipated higher trading volumes Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. and increased liquidity." ASTeX is a leading provider of innovative production technology for the manufacture of advanced semiconductor devices. ASTeX markets its plasma sources Plasma sources generate plasmas. Excitation of a plasma requires partial ionisation of neutral atoms and/or molecules of a medium. There are several ways to cause ionisation: collisions of energetic particles, strong electric fields acting on bond electrons, or ionising and subsystems, ozone generators and subsystems, and specialty power sources to the world's leading semiconductor capital equipment manufacturers. ASTeX markets the same underlying core technology for medical, electro-optic and synthetic diamond Synthetic diamond, also called lab-created, manufactured, "lab-grown" or cultured diamond is a term used to describe diamond (the tetrahedral carbon allotrope) which has been produced by a technological process, as opposed to natural diamond, which is applications. -0- "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. CONTACT: Applied Science and Technology, Inc. John Tarrh Senior Vice President and Chief Financial Officer 617/937-5135 or Investor Relations Investor relations The process by which the corporation communicates with its investors. Contact: Morgen-Walke Associates, Inc. Donna N. Stein, APR/Dan Durkin/Keil Decker 212/850-5600 Press Contact: Lee Foley Morgen-Walke Associates, Inc. 212/850-5600 |
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