MEDIMMUNE SHAREHOLDERS CLEAR THE WAY FOR
THREE-FOR-ONE STOCK SPLIT
Gaithersburg, MD, May 18, 2000 -- MedImmune, Inc. (Nasdaq: MEDI) announced today
that at its Annual Shareholders' Meeting, shareholders voted to increase the
number of authorized shares of MedImmune common stock from 120 million to 320
million. This action was a prerequisite for the company's previously announced
three-for-one stock split to proceed.
MedImmune's three-for-one stock split will be paid in the form of a 200-percent
stock dividend to all shareholders of record at the close of business on May 18,
2000. This stock dividend provides shareholders two additional shares for every
share owned. Distribution of the new shares will occur on or about Friday, June
2, 2000. Shareholders who hold their stock in a brokerage account, will receive
their new shares through their broker who will credit their account.
Shareholders who maintain physical possession of their stock certificates will
have their additional shares mailed to them. The company's stock will begin
trading at the post-split price on Monday, June 5, 2000. Any shares traded
between May 18 and June 5 will come with a "due-bill" entitling the buyer to two
additional shares for each share purchased that will be distributed on or about
June 7.
As of March 31, 1999, MedImmune had approximately 70 million shares of common
stock outstanding. Following the split, the company will have approximately 210
million shares outstanding.
MedImmune, Inc. is a fully integrated biotechnology company focused on
developing and marketing products that address medical needs in areas such as
infectious disease, immune regulation and cancer. Headquartered in Gaithersburg,
Maryland, MedImmune has manufacturing facilities in Frederick, Maryland and
Nijmegen, the Netherlands, and an oncology subsidiary in West Conshohocken,
Pennsylvania.
This announcement may contain, in addition to historical information, certain
forward-looking statements that involve risks and uncertainties. Such statements
reflect management's current views and are based on certain assumptions. Actual
results could differ materially from those currently anticipated as a result of
a number of factors, including risks and uncertainties discussed in the
company's filings with the U.S. Securities and Exchange Commission. MedImmune
cautions that RSV disease occurs primarily during the winter months; the company
believes its operating results will reflect that seasonality for the foreseeable
future. The company is also developing several products for potential future
marketing. There can be no assurance that such development efforts will succeed,
that such products will receive required regulatory clearance or that, even if
such regulatory clearance were received, such products would ultimately achieve
commercial success.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereonto duly authorized.
MEDIMMUNE, INC.
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(Registrant)
June 2, 2000 By:
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David M. Mott, Vice Chairman
and Chief Financial Officer
