VANCOUVER, British Columbia--(BUSINESS WIRE)--
lululemon athletica inc. (NASDAQ:LULU; TSX:LLL) today announced that its
stockholders approved a two-for-one stock split of the Company's Common
Stock at its annual meeting held on June 8, 2011, along with approving a
corresponding increase in the number of shares of Common Stock
authorized for issuance. The stock split will become effective upon the
filing of an amendment to the Company's Certificate of Incorporation
with the Secretary of State of the State of Delaware without any further
action on the part of lululemon's stockholders. The Company expects to
file the amendment to its Certificate of Incorporation the week of June
20, 2011. Shares of lululemon Common Stock are expected to trade on the
Nasdaq Stock Market and the Toronto Stock Exchange on a post-split basis
commencing two days prior to the record date for the stock split, which
will be approximately ten trading days following the filing of the
amended Certificate of Incorporation. Each shareholder of record as of
the record date will receive two shares of Common Stock for each such
share of stock held by the shareholder as of that date.
Following the effectiveness of the stock split, the Company will have
approximately 108 million shares of Common Stock issued and outstanding.
About lululemon athletica inc.
lululemon athletica (NASDAQ:LULU; TSX:LLL) is a yoga-inspired athletic
apparel company that creates components for people to live a long,
healthy and fun life. 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) the successful consummation and completion of the stock
split, including the required stock exchange and related notices and
requirements, and (ii) 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. Although the Company
expects to file the amendment to its Certificate of Incorporation to
effect the stock split as soon as practicable, the exact timing of this
filing will be determined by the Company's board of directors based on
its evaluation as to when and if such action will be the most
advantageous to the Company and its stockholders. The board of directors
reserves the right, notwithstanding stockholder approval and without
further action by the stockholders, to elect not to proceed with the
stock split if, at any time prior to filing the amendment to the
Certificate of Incorporation, the board of directors, in its sole
discretion, determines that it is no longer in the best interests of the
Company and its stockholders to proceed with the stock split.
Source: lululemon athletica inc.