DAYTON, Ohio, November 27, 2009 -- Advant-e Corporation (OTC Bulletin Board: ADVC), a provider of Internet-based Electronic Data Interchange and electronic document management software and services today announced that it has received notice from FINRA concerning the previously announced ten-for-one forward stock split.
As reported on the “Daily List” at the OTCBB.com web site, FINRA has approved the company’s ten-for-one forward stock split with a Record Date of November 30, 2009, a Payment Date of December 1, 2009, and an Ex Date of December 2, 2009. Shareholders will automatically receive nine additional shares for each share owned with no action required by shareholders. The company expects that its common stock will begin trading post-split on December 2, 2009.
As part of the forward split, the company amended its Articles of Incorporation with the State of Delaware to increase the number of authorized shares to 100,000,000, par value $.001. After the ten-for-one forward split, the company will have 66,722,690 shares issued and outstanding.
On October 30, 2009, the company also announced a $2 Million cash dividend in the form of three separate payments of $.01 per share (post split) by no later than December 31, 2009, June 30, 2010, and December 31, 2010. The company expects to announce the first cash dividend record date by December 15, 2009 with a payment date of no later than December 31, 2009.