BROKAT Completes 3 for 1 Stock Split.Business Editors STUTTGART Stuttgart, city, Germany Stuttgart (sht  t`gärt), city (1994 pop. 594,406), capital of Baden-Württemberg, SW Germany, on the Neckar River. , Germany--(BUSINESS WIRE)--Jan. 28, 2000 Capital Stock Converted to Euro as of February 7 BROKAT Infosystems AG announced today that it will complete a three-for-one stock split, effective February 7. The split will take place in connection with the conversion of the company's capital stock to the Euro. The no-par-value shares, with a theoretical par value of 3 Euro, each will be split into three no-par-value shares, each with a theoretical par value of 1 Euro. The capital stock of 26,848,773 Euro will then be divided into 26,848,773 no-par-value shares. The bylaws The rules and regulations enacted by an association or a corporation to provide a framework for its operation and management. Bylaws may specify the qualifications, rights, and liabilities of membership, and the powers, duties, and grounds for the dissolution of an were amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. accordingly in the Commercial Register at the local court in Stuttgart on December 23, 1999. At BROKAT's annual meeting on November 18, 1999, the stockholders approved the conversion of the capital stock to the Euro, which is combined with a capital increase from corporate funds without the issuance of new shares. After the split, each share will represent 3 Euro of the capital stock instead of the current 5 DM. Brokat Infosystems AG Brokat is among the world's leading suppliers of software for e-business solutions, and is the worldwide market leader in the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the banking segment. Its key product is the modular e-services platform Twister. This multi-industry software package integrates existing IT systems and applications within companies, and provides secure links to various electronic channels like the Internet and mobile communications. Twister incorporates extensive Customer Relationship Management and Enterprise Application Integration functionalities. For example, the platform provides a way for companies and institutions to offer their customers services or products over the Internet and receive electronic payment securely. Twister solutions are already being used by more than 2,000 customers, including Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/[1]) (ISIN: DE0005140008, NYSE: DB) (English: German Bank , Allianz, Advance Bank, ABN Amro ABN AMRO Algemene Bank Nederland-Amsterdam Roterdam Bank (Dutch bank) , debitel, Swiss Post Swiss Post (French: La Poste Suisse, Italian: La Posta Svizzera, German: Die Schweizerische Post, Romanch: La Posta Svizra) is the postal service of Switzerland. and primus-online. Brokat, founded in 1994, currently employs a workforce of 548 in 14 countries. In fiscal 1998-99 the Company reported revenues of DM 61.4 million. Brokat Infosystems AG is headquartered in Stuttgart. Information on the Company and its products is also available on the Internet at www.brokat.com. |
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