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News of  April 25, 2001


 


Porsche: Share split scheduled for April 23

Reducing size of sports car manufacturer's shares 

Stuttgart - The shares of the Stuttgart-based company Dr. Ing. h.c. F. Porsche AG are to be split into smaller units. The conversion of the previous shares with a fixed nominal value into no-par-value shares, combined with a 10-for-1 split, as agreed by the shareholders' annual general meeting on January 19, 2001, is to take effect on April 23, 2001. On that day, the preferred shares with a nominal value of 50 German Marks (DM) will be replaced at on the stock exchanges by no-par-value shares in a ratio of 1:10. Ten no-par value shares will replace one old share; each of the former representing 2.60 Euro of the company's equity, which will then be 45.5 million Euro, in accordance with the decision at the shareholders' meeting. 

Preparations for printing the no-par value share certificates are in progress. The exchange of share certificates in DM for the new no-par-value common stock and the non-voting preferred no-par-value share certificates is planned to take place during the fall of this year. 

(April 18, 2001)

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