Aussie Apparel, Inc. announced that its board of directors has approved a five-for-one forward stock split of the company’s common stock.
The forward split will be effective on Tuesday, May 27th, 2003 to the holders of record of Aussie Apparel’s common stock as of the close of business on May 21, 2003. The new shares will be issued by the company’s transfer agent when certificates are physically surrendered, by replacing each share surrendered with 5 new shares, or if part of the DTC System, shares will be automatically adjusted for on the same basis. Following the split the company’s ticker symbol will change from OTC-BB: AAPP to OTC-BB: AAPR.
“As the company continues to expand, management wants to be prepared with a capital structure more suited to a company with our growth potential,” said Bruce MacGregor, Aussie Apparel’s President & CEO. “We continue to work on strategic agreements on a worldwide basis that we feel will have a material impact on the company and strongly believe that the 5 for 1 forward stock split will be more advantageous to increasing shareholder value.”
