INTELLIGENT ELECTRONICS TO SPLIT STOCK
INTELLIGENT ELECTRONICS TO SPLIT STOCK EXTON, Pa., Jan. 13 /PRNewswire/ -- Intelligent Electronics, Inc.
(NASDAQ-NMS: INEL), a leading large-format retailer of office productivity, today announced that its directors approved a 2-for-1 split of its common stock.
According to Chairman and Chief Executive Officer Richard D. Sanford, the stock split is prompted by a desire to obtain a wider distribution of the company's shares by making the price more attractive to a broader group of investors. Intelligent Electronics said it will issue one common share for each share held, payable Feb. 13, 1992, to holders of record Feb. 6. With more than 18 million shares of stock issued and outstanding as of Oct. 31, 1991, the split will result in more than 36 million shares issued and outstanding. /delval/ -0- 1/13/92 /CONTACT: Patrice W. Johnson vice president of Intelligent Electronics, 215-458-6706/ (INEL) CO: Intelligent Electronics, Inc. ST: Pennsylvania IN: REA SU:
CC -- PH001 -- 8908 01/13/92 07:59 EST
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|Date:||Jan 13, 1992|
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