Chart Industries declares 3-for-2 stock split.EASTLAKE, Ohio--(BUSINESS WIRE)--May 12, 1997--Chart Industries, Inc. (NYSE NYSE See: New York Stock Exchange :CTI (Computer Telephone Integration) Combining data with voice systems in order to enhance telephone services. For example, automatic number identification (ANI) allows a caller's records to be retrieved from the database while the call is routed to the appropriate party. ) announced today that its Board of Directors has declared a three-for-two stock split that will be distributed on June 30, 1997, to shareholders of record at the close of business June 16, 1997. Payment for fractional shares will be made in cash based upon the closing price on June 16, 1997. Following the stock split, Chart will have approximately 14.4 million common shares outstanding. Commenting on the announcement, Arthur S. Holmes, Chairman and Chief Executive Officer of Chart Industries, stated, "The Company's stock has appreciated dramatically in the past two years. Our objectives in declaring this three-for-two stock split are to increase the number of shares outstanding and improve the stock's liquidity, thereby making Chart stock more accessible to a wider audience of investors. We believe this action is in the best interest of all our shareholders." Chart Industries, Inc. manufactures an extensive line of low-temperature and cryogenic equipment used to purify, liquefy liquefy /liq·ue·fy/ (lik´wi-fi) to become or cause to become liquid. , store and transport such commonly used gases as helium, nitrogen, oxygen, argon argon (är`gŏn) [Gr.,=inert], gaseous chemical element; symbol Ar; at. no. 18; at. wt. 39.948; m.p. −189.2°C;; b.p. −185.7°C;; density 1.784 grams per liter at STP; valence 0. and natural gas for further use in a multitude of industrial, commercial and scientific applications. Chart also produces high-vacuum systems for metallic coating and stainless steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. tubing. Headquartered in Eastlake, Ohio, Chart has operations located in Arkansas, California, Louisiana, Massachusetts, New Hampshire, Ohio New Hampshire is an unincorporated community located in central Goshen Township, Auglaize County, Ohio, United States. Located between Wapakoneta and Lakeview at the intersection of U.S. , Pennsylvania and Wisconsin. CONTACT: Chart Industries, Inc., Eastlake Don A. Baines, 216/946-2525 |
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