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FTI Consulting Announces Three-For-Two Stock Split
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Subject to Shareholder Approval of Authorized Capital Increase
Annapolis, MD - March 17, 2003
ANNAPOLIS, MD, March 17, 2003—FTI Consulting, Inc. (NYSE: FCN), the premier national provider of turnaround, bankruptcy and litigation-related consulting services, today announced that its Board of Directors has approved a three-for-two split of its common stock payable in the form of a stock dividend. The stock split is subject to shareholder approval of an increase in the company's authorized capital from 45 million to 75 million common shares at the company's annual meeting on May 21, 2003. If the increase in authorized capital is approved, shareholders would receive one additional share for every two shares held on the record date of May 7, 2003, payable on June 4, 2003. Payment for fractional shares would also be mailed or delivered on or about June 4, 2003, and the common stock would begin trading at a post-split price on June 5, 2003.
About FTI Consulting
FTI Consulting is a multi-disciplined consulting firm with leading practices in the areas of turnaround, bankruptcy and litigation-related consulting services. Modern corporations, as well as those who advise and invest in them, face growing challenges on every front. From a proliferation of “bet-the-company” litigation to increasingly complicated relationships with lenders and investors in an ever-changing global economy, U.S. companies are turning more and more to outside experts and consultants to meet these complex issues. FTI is dedicated to helping corporations, their advisors, lawyers, lenders and investors meet these challenges by providing a broad array of the highest quality professional practices from a single source.
This press release includes "forward-looking" statements that involve uncertainties and risks. There can be no assurance that actual results will not differ from the company's expectations. The company has experienced fluctuating revenues, operating income and cash flow in some prior periods and expects this may occur from time to time in the future. As a result of these possible fluctuations, the company's actual results may differ from our projections. Other factors that could cause such differences include pace and timing of additional acquisitions, the company's ability to realize cost savings and efficiencies, competitive and general economic conditions, and other risks described in the company's filings with the Securities and Exchange Commission.