CorVel Announces Three-For-One Forward Stock Split and Authorized Share Increase
CorVel (NASDAQ: CRVL) has announced a three-for-one forward stock split of its common stock, approved by its Board of Directors. The company will also increase its authorized shares proportionately to accommodate the split, while maintaining the current number of authorized preferred shares. The implementation requires filing an amendment to the Company's Certificate of Incorporation, expected on December 24, 2024.
Every share of common stock held on the record date of December 23, 2024, will be split into three shares. Trading on a post-split basis is expected to begin on December 26, 2024, subject to Nasdaq approval. CEO Michael G. Combs attributed this decision to the company's extraordinary stock price growth, driven by strong financial performance and successful strategy execution.
CorVel (NASDAQ: CRVL) ha annunciato un scissione azionaria in un rapporto di tre a uno delle sue azioni ordinarie, approvata dal suo Consiglio di Amministrazione. L'azienda aumenter脿 anche il numero di azioni autorizzate in proporzione per facilitare la scissione, mantenendo il numero attuale di azioni privilegiate autorizzate. L'attuazione richiede la presentazione di un emendamento al Certificato di Incorporazione dell'azienda, previsto per il 24 dicembre 2024.
Ogni azione di capitale comune detenuta alla data di registrazione del 23 dicembre 2024 sar脿 convertita in tre azioni. Le trattative su base post-scissione dovrebbero iniziare il 26 dicembre 2024, soggette all'approvazione del Nasdaq. Il CEO Michael G. Combs ha attribuito questa decisione alla straordinaria crescita del prezzo delle azioni dell'azienda, sostenuta da forti risultati finanziari e da una strategia esecutiva di successo.
CorVel (NASDAQ: CRVL) ha anunciado un dividendo de acciones en una proporci贸n de tres a uno de sus acciones ordinarias, aprobado por su Junta Directiva. La empresa tambi茅n aumentar谩 las acciones autorizadas proporcionalmente para acomodar el dividendo, manteniendo el n煤mero actual de acciones preferentes autorizadas. La implementaci贸n requiere presentar una enmienda al Certificado de Incorporaci贸n de la Compa帽铆a, que se espera para el 24 de diciembre de 2024.
Cada acci贸n de capital ordinario mantenida en la fecha de registro del 23 de diciembre de 2024 se dividir谩 en tres acciones. Se espera que las transacciones en base post-dividendo comiencen el 26 de diciembre de 2024, sujeto a la aprobaci贸n de Nasdaq. El CEO Michael G. Combs atribuy贸 esta decisi贸n al extraordinario crecimiento del precio de las acciones de la compa帽铆a, impulsado por un s贸lido rendimiento financiero y una exitosa ejecuci贸n de la estrategia.
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CorVel (NASDAQ: CRVL) a annonc茅 une division des actions en ratio trois pour un de ses actions ordinaires, approuv茅e par son Conseil d'Administration. L'entreprise augmentera 茅galement le nombre d'actions autoris茅es de mani猫re proportionnelle pour tenir compte de la division, tout en maintenant le nombre actuel d'actions privil茅gi茅es autoris茅es. La mise en 艙uvre n茅cessite le d茅p么t d'un amendement au Certificat de Incorporation de la Soci茅t茅, pr茅vu pour le 24 d茅cembre 2024.
Chaque action ordinaire d茅tenue 脿 la date de r茅f茅rence du 23 d茅cembre 2024 sera divis茅e en trois actions. Le trading sur une base post-division devrait commencer le 26 d茅cembre 2024, sous r茅serve de l'approbation de Nasdaq. Le PDG Michael G. Combs a attribu茅 cette d茅cision 脿 la croissance extraordinaire du prix des actions de l'entreprise, soutenue par de solides performances financi猫res et une ex茅cution r茅ussie de sa strat茅gie.
CorVel (NASDAQ: CRVL) hat eine Drittel-Aktiensplit seiner Stammaktien, genehmigt durch den Vorstand, angek眉ndigt. Das Unternehmen wird auch die Anzahl der genehmigten Aktien proportional erh枚hen, um den Split zu erleichtern, w盲hrend die derzeitige Anzahl genehmigter Vorzugsaktien erhalten bleibt. Die Umsetzung erfordert die Einreichung einer 脛nderung der Satzung des Unternehmens, die f眉r den 24. Dezember 2024 erwartet wird.
Jede am Stichtag, dem 23. Dezember 2024, gehaltene Stammaktie wird in drei Aktien aufgeteilt. Der Handel auf der Basis nach dem Split wird voraussichtlich am 26. Dezember 2024 beginnen, vorbehaltlich der Genehmigung durch die Nasdaq. CEO Michael G. Combs f眉hrte diese Entscheidung auf das au脽ergew枚hnliche Wachstum des Aktienkurses des Unternehmens zur眉ck, das durch starke finanzielle Leistungen und eine erfolgreiche Umsetzung der Strategie vorangetrieben wurde.
- Stock price has shown extraordinary growth over recent years
- Strong financial performance reported
- Successful execution of strategic plan
- None.
Insights
FORT WORTH, Texas, Dec. 13, 2024 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ: CRVL) announces that its Board of Directors approved a three-for-one forward stock split of its common stock. The Board also approved a proportionate increase in the number of authorized shares of common stock to accommodate the stock split. The Board did not approve an increase in the number of authorized shares of preferred stock.
The implementation of the stock split and authorized share increase is subject to the filing of an amendment to the Company鈥檚 Fourth Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware, which the Company expects to file on December 24, 2024.
鈥淥ur stock price has seen extraordinary growth over the past several years fueled by our strong financial performance and the successful execution of our strategic plan. We believe it is the right time to effect a forward stock split to increase the accessibility of our stock to potential investors while maintaining our focus on delivering our customers enhanced technological solutions for the management of their healthcare needs,鈥� said Michael G. Combs, the Company鈥檚 President, Chief Executive Officer and Chairman of the Board.
Following the filing and effectiveness of the amendment, every one share of common stock outstanding or held in treasury on December 23, 2024, the record date for the stock split, will be split into three shares of common stock.
Subject to final approval by the Nasdaq Global Select Market, trading is currently expected to begin on a post-stock split adjusted basis at market open on December 26, 2024.
Cautionary Note Regarding Forward-Looking Statements
This Press Release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which statements are subject to considerable risks and uncertainties. Forward-looking statements include all statements other than statements of historical fact contained in this Press Release, including statements regarding the implementation and timing of the stock split and authorized share increase, and the timing of trading on a post-stock split basis. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results to differ materially and adversely from those expressed, assumed, or implied by the forward-looking statements. Some of the risks and uncertainties that may cause actual results to materially differ from those expressed or implied by these forward-looking statements are described in the section entitled 鈥淩isk Factors鈥� in our Annual Report on Form 10-K for the fiscal year ended March 31, 2024, as well as in our Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Any forward-looking statement made in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. Except as required by applicable law or the listing rules of the Nasdaq Global Select Market, the Company expressly disclaims any intent or obligation to update any forward-looking statements, or to update the reasons actual results could differ materially from those expressed or implied by these forward-looking statements, whether to conform such statements to actual results or changes in expectations, or as a result of the availability of new information.
Contact: Melissa Storan
Phone: 949-851-1473
FAQ
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