Core Laboratories Approves 2-for-1 Stock Split
Core Laboratories (NYSE: CLB) announced that its Board of Supervisory Directors has approved a 2-for-1 stock split of all of Core's outstanding common shares, payable on or about July 7, 2006 to shareholders of record as of June 30, 2006. The stock split will be effected by the issuance of one common share for each common share outstanding on the record date, pending shareholder approval. The Company will seek authorization for the stock split at its upcoming Annual Shareholder's Meeting scheduled for June 2006. After the stock split, Core will have approximately 55,000,000 diluted shares outstanding. Core believes this action will eventually lead to increased trading volume of CLB shares while increasing share liquidity. Currently, the Company trades an average of approximately 184,000 shares per day on the NYSE. Core previously split its common shares on a 2-for-1 basis in December 1997, which ultimately led to increased trading volume and liquidity of CLB shares.
Core Laboratories N.V. is a leading provider of
proprietary and patented reservoir description, production enhancement, and
reservoir management services used to optimize petroleum reservoir
performance. The Company has over 70 offices in more than 50 countries and is
located in every major oil-producing province in the world.