Durango, Colorado-based Rocky Mountain Chocolate Factory (RMCF), a franchise-holder of gourmet chocolate and confection stores and manufacturer of premium chocolates, today announced a four-for-three stock split.
On 28 January, the company’s board of directors approved a four-for-three stock split that will be payable 4 March to shareholders of record at the close of business on 11 February 2002. Shareholders will receive one (1) additional share of Common Stock for every three (3) shares owned prior to the record date.
COO Bryan Merryman stated: “Increased investor interest in RMCF in recent months has revealed a growing frustration with the limited number of shares in our public ‘float’, and the board of directors believes the 4-for-3 stock split will improve the market liquidity of our Company’s common stock.
“Total shares outstanding will increase 33% to approximately 2,474,000 shares, from approximately 1,856,000 at December 31, 2001, as a result of the stock split.”