Uniroyal Technology Corporation Announces Two-For-One Split
Sarasota, Fla., Uniroyal Technology Corporation (Nasdaq: UTCI) today announced that its Board of Directors has approved a two- for-one stock split in the form of a 100% stock dividend on its common stock to shareholders of record on March 20, 2000.
Each shareholder of record on March 20, 2000, will be issued a certificate representing one additional share of common stock for each share held on the record date. The additional share certificates will be issued and mailed on or about April 5, 2000, by the Company s transfer agent, The Bank of New York. Upon completion of the split, the Company will have 35 million shares of authorized common stock with approximately 25 million shares outstanding.
The Company recently began shipping high brightness light emitting diodes (HB-LEDs) produced at its state-of-the-art 77,000 square foot manufacturing facility in Tampa, Florida. The market demand for HB-LEDs remains exceptional and the Company plans to double the capacity for high brightness blue and green colors. The additional capacity is expected to be in place in July. HB-LEDs grew 50% in units last year and are forecasted by industry data sources to grow substantially in annual units in the foreseeable future.
Uniroyal Technology has three business segments: Optoelectronics, Coated Fabrics and Specialty Adhesives. Some of the Company s well-known brand names and products include epitaxial wafers, package-ready dies and lamps for LEDs in its Optoelectronics segment, NAUGAHYDE(R) and NAUGASOFT(TM) in coated fabrics, and SILAPRENE(R), HYDRA FAST-EN(R) and GUNTHER ULTRA/BOND(R) in adhesives.
The Company s stock and warrants trade on the Nasdaq/NMS under the symbols UTCI and UTCIW respectively. Statements made herein that are forward-looking in nature within the meaning of the Private Securities Litigation Reform Act of 1995 are subject to risks and uncertainties that could cause actual results to differ materially. Such risks and uncertainties include, but are not limited to, those related to business conditions and the financial strength of the various markets served by the Company, the level of spending for such products and the ability of the Company to successfully manufacture and market its products.
For the latest news about Uniroyal Technology Corporation, call 800-836-4014.
Contact: George J. Zulanas Jr., CFO of Uniroyal, 941-361-2220; or Mark N. Tyler of TT Communications, 212-962-3690, for Uniroyal
George J. Zulanas
Jr., CFO of Uniroyal, 941-361-2220; or Mark N. Tyler of TT Communications, 212-962-3690,
for Uniroyal
