Action Subject to Stockholder Approval of Increase in Authorized Shares
QUINCY, Ill., Feb. 21 /PRNewswire-FirstCall/ -- Gardner Denver, Inc.
(NYSE: GDI) announced today that its Board of Directors has approved a two-
for-one split of the Company's common stock to be effected in the form of a
100% stock dividend. As the Company does not have enough authorized shares of
common stock to effect a two-for-one split, the split is contingent upon
stockholder approval of an increase in the number of authorized shares of
common stock at the May 2, 2006 annual meeting of stockholders.
Subject to receiving such stockholder approval, the record date for the
stock split will be May 11, 2006, with the distribution date expected to be on
or about June 1, 2006. If stockholders approve the increase in the number of
authorized shares at the annual meeting, stockholders of record on the record
date will receive on the distribution date one additional share of the
Company's common stock for each share owned. As proposed, the stock split
would increase the number of outstanding shares of common stock from
approximately 26 million to approximately 52 million shares.
Gardner Denver, Inc., with 2005 revenues of $1.2 billion ($1.4 billion on
a pro forma basis including the acquisition of Thomas Industries, which was
completed in July 2005) is a leading worldwide manufacturer of reciprocating,
rotary and vane compressors, liquid ring pumps and blowers for various
industrial and transportation applications, pumps used in the petroleum and
industrial markets, and other fluid transfer equipment serving chemical,
petroleum, and food industries. Gardner Denver's news releases are available
by visiting the Investor Relations page on the Company's website
( http://www.gardnerdenver.com ).
SOURCE Gardner Denver, Inc.
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Related links:
http://www.gardnerdenver.com
Company News On-Call:
http://www.prnewswire.com/comp/303875.html
CONTACT:
Helen W. Cornell, Vice President, Finance and
CFO of Gardner Denver, Inc., +1-217-228-8209
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