BOSTON, Feb. 11 /PRNewswire-FirstCall/ -- PAREXEL International Corporation (Nasdaq: PRXL) announced today that its Board of Directors has approved a 2-for-1 split of its Common Stock, which will be effected by means of a 100% stock dividend.
Holders of PAREXEL's Common Stock will receive one additional share of Common Stock for each share of Common Stock held on the record date of February 22, 2008. The additional shares will be distributed on or about March 3, 2008 by PAREXEL's transfer agent, Computershare Trust Company, N.A., and trading of PAREXEL shares on a split-adjusted basis will begin on March 4, 2008.
As of February 8, 2008, PAREXEL had approximately 28.4 million shares of Common Stock outstanding. Following the stock split, the number of outstanding shares of Common Stock will increase to approximately 56.8 million.
Josef von Rickenbach, Chairman and CEO stated, "The stock split reflects the confidence that we have for PAREXEL's future growth prospects and opportunities. We believe this action will serve to attract a broader base of investors by making our stock more accessible, while at the same time further improving liquidity."
About the Company
PAREXEL International Corporation is a leading global
bio/pharmaceutical services organization, providing a broad range of
knowledge-based contract research, medical communications and consulting
services to the worldwide pharmaceutical, biotechnology and medical device
industries. Committed to providing solutions that expedite time-to-market
and peak-market penetration, PAREXEL has developed significant expertise
across the development and commercialization continuum, from drug
development and regulatory consulting to clinical pharmacology, clini
|SOURCE PAREXEL International Corporation|
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