Radware (RDWR) Approves Two-for-One Reverse Split

March 28, 2013 6:19 AM EDT
Radware Ltd. (Nasdaq: RDWR) announced a two-for-one (2:1) forward split of Radware's ordinary shares, with a record date of April 8, 2013 (the "Record Date"). The forward split will take effect on April 12, 2013 (the "Payable Date"), and Radware's ordinary shares will begin trading on a post-split basis on the NASDAQ Global Select Market on April 15, 2013.

On the Payable Date, every one (1) share of the Company's pre-split ordinary shares held by a shareholder as of the Record Date, including shares subject to outstanding stock options and shares available for grant under the Company's equity incentive plans, will automatically be split into two (2) shares of the Company's post-split ordinary shares. In addition, the number of authorized ordinary shares will increase from 30,000,000 to 60,000,000 and the par value of ordinary shares will decrease from NIS 0.10 to NIS 0.05 per ordinary share.

The forward split will affect all shareholders uniformly and will not affect any shareholder's ownership percentage. The Company's shareholders will not be required to surrender their existing certificates to receive the shares to be issued pursuant to the forward share split, which will be effected by delivering additional shares in uncertificated book-entry form by American Stock Transfer & Trust Company, Radware's stock transfer agent.

The forward share split, including related amendments to the Company's Memorandum and Articles of Association, was approved by Radware's shareholders at the Extraordinary General Meeting of Shareholders held yesterday.

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