VANCOUVER, British Columbia--(BUSINESS WIRE)--
lululemon athletica inc. [NASDAQ: LULU; TSX: LLL] today announced that
its Board of Directors has approved, subject to stockholder approval, a
two-for-one stock split of the Company's common stock and an increase in
the Company's authorized common stock from 200,000,000 shares to
400,000,000 shares. In connection with the stock split, the Board also
approved, subject to stockholder approval, a two-for-one split of the
Company's Special Voting Stock and an increase in the Company's
authorized Special Voting Stock from 30,000,000 to 60,000,000.
Stockholders will have the opportunity to approve the stock split and
proposed share increase at the Company's annual meeting expected to be
held on June 8, 2011. Upon stockholder approval of the stock split and
the proposed increase in the authorized number of shares, the stock
split will be implemented as soon as practicable following the annual
meeting.
About lululemon athletica inc.
lululemon athletica (NASDAQ:LULU; TSX:LLL) is a yoga-inspired athletic
apparel company that creates components for people to live longer,
healthier and more fun lives. By producing products that help keep
people active and stress free, lululemon believes that the world will be
a better place. Setting the bar in technical fabrics and functional
designs, lululemon works with yogis and athletes in local communities
for continuous research and product feedback. For more information,
visit www.lululemon.com.
Forward-Looking Statements:
Certain statements in this release, including without limitation the
consummation, effectiveness and completion of the stock split and the
timing thereof and statements regarding lululemon's business strategy
are "forward-looking statements" within the meaning of the rules and
regulations of the SEC. These statements are based on management's
current expectations and are subject to uncertainty and changes in
circumstances. Actual results may differ materially from those included
in these statements due to a variety of factors, including without
limitation (i) receipt of the required approval from the lululemon
stockholders for the stock split and the proposed share increase, (ii)
the successful consummation and completion of the stock split, including
the required stock exchange and related notices and requirements, and
(iii) the precautionary statements included in lululemon's filings with
the SEC, including without limitation the "Risk Factors" section of
lululemon's 2010 Form 10-K.
Source: lululemon athletica inc.