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VENLO, Netherlands (ots Ad hoc-Service) - QIAGEN ANNOUNCES
4-FOR-1 STOCK SPLIT
QIAGEN N.V. (Nasdaq: QGENF; Frankfurt Neuer Markt: QIA, Easdaq: QGEN), announced today that its Board of Supervisory Directors as well as its Managing Board have approved a four-for-one split of its Common Stock, subject to approval by QIAGEN shareholders of two amendments to the Company's Articles of Association at QIAGEN's Annual General Meeting on June 16, 2000. Subject to the approval of these amendments the stock split shall be conducted by means of an increase in nominal capital through existing additional paid-in capital.
If the proposed four-for-one stock split is approved, shareholders of record on the date the amendments to the Articles of Association become effective will receive a new stock certificate representing three additional shares, par value 0.01 EURO, for each common share, par value 0.01 EURO, then held. As a result of this stock split, the number of shares issued and held will increase by a factor of four, whereas the stock price should reflect this increase with a corresponding reduction in the absolute stock price. Further details of regarding this stock split which is intended to be conducted in July 2000, will be communicated in due time.
The Company expects to record an expense of approximately $600,000 after taxes in the third quarter of 2000 for expenses associated with this stock split, including the Company's listing of the additional shares resulting from the stock split on the Neuer Markt Division of the Frankfurt Stock Exchange.
QIAGEN N.V., a Netherlands holding company with subsidiaries in Germany, the United States, Japan, the United Kingdom, Switzerland, France, Australia and Canada, believes it is the world's leading provider of innovative enabling technologies and products for the separation, purification and handling of nucleic acids. The Company has developed a comprehensive portfolio of more than 280 proprietary, consumable products for nucleic acid separation, purification and handling, nucleic acid amplification, as well as automated instrumentation and related services. QIAGEN's products are sold in more than 40 countries throughout the world to academic research markets and to leading pharmaceutical and biotechnology companies. In addition, the Company is positioning its products for sale into developing commercial markets, including DNA sequencing and genomics, nucleic acid-based molecular diagnostics, and genetic vaccination and gene therapy. QIAGEN employs approximately 1,000 people worldwide. Further information on QIAGEN can be found at www.qiagen.com.
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