Outerwear distributor G-III Apparel Group Ltd (GIII) announced that on March 2, 2006, its Board of Directors approved a three-for-two stock split of the Company's common stock, $.01 par value, which will be paid as a stock dividend.
Shareholders of record as of the close of business on March 16, 2006 will receive one additional share of common stock for every two shares of common stock they own on the record date.
The new shares will be issued on March 27, 2006 by the Company's transfer agent, Wells Fargo Bank, National Association, 161 N. Concord Exchange, South Saint Paul, MN 55075. Fractional shares resulting from the stock split will be paid in cash in lieu of shares.
The date on which the split shares will be reflected in Nasdaq trading prices is March 28, 2006. Prior to the stock split, the Company has outstanding approximately 8,247,464 shares of its common stock. After the stock split, the Company will have outstanding approximately 12,371,196 shares of its common stock.
G-III Apparel designs, manufactures, imports and markets an extensive range of leather and non-leather apparel including coats, jackets and pants.
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