Marvell Announces Shareholder Approval of an Increase in Authorized Share Capital to Allow for 2-for-1 Stock Split
Santa Clara, California (June 12, 2006) – arvell Technology Group Ltd. (NASDAQ: MRVL), the leader in development of storage, communications, and consumer silicon solutions, announced today that at its June 9, 2006 Annual General Meeting its shareholders approved an increase in the Company’s authorized capital in order to allow a two for one stock split of the Company’s common stock to be paid in the form of a 100% stock dividend. The stock split was previously approved by Marvell’s Board of Directors on February 21, 2006, and was subject to shareholder approval of an increase in the Company’s authorized share capital. Stock certificates representing one additional share for each share held will be delivered on or about July 24, 2006 (payment date) to all shareholders of record at the close of business on July 10, 2006 (record date).
Marvell (NASDAQ: MRVL) is the leader in storage, communications and consumer silicon solutions. The Company’s diverse product portfolio includes switching, transceiver, communications controller, wireless, and storage solutions that power the entire communications infrastructure, including enterprise, metro, home, and storage networking. As used in this release, the terms “Company” and “Marvell” refer to Marvell Technology Group Ltd. and its subsidiaries, including Marvell Semiconductor, Inc. (MSI), Marvell Asia Pte Ltd (MAPL), Marvell Japan K.K., Marvell Taiwan Ltd., Marvell International Ltd. (MIL), Marvell U.K. Limited, Marvell Semiconductor Israel Ltd. (MSIL), RADLAN Computer Communications Ltd., and SysKonnect GmbH. MSI is headquartered in Santa Clara, Calif., and designs, develops and markets products on behalf of MIL and MAPL. MSI may be contacted at (408) 222-2500 or at www.marvell.com.
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