Automotive technology pioneer ZAP (OTC Bulletin Board: ZAPZ) announced a 3 for 1 forward split of the Company's common stock today. It will be effective on or about December 13, 2004. Stockholders will be entitled to three shares of common stock for each share of common stock held on that date. The proposed stock split is subject to regulatory approval and may require the issuance of a new symbol and CUSIP number.
"This forward stock split is intended to lay the groundwork for the anticipated growth of the Company," said ZAP CEO Steve Schneider. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership and enhance shareholder value."
Yesterday ZAP announced the 60-MPG SMART car was granted a certificate of conformity by the U.S. Environmental Protection Agency, clearing the way for U.S. sales by ZAP. The SMART car is on display to the public for the first time at The San Francisco International Auto Show, open to consumers through November 28 at The Moscone Center in downtown San Francisco.
ZAP has been a world leader in cleaner transportation technologies since 1994, delivering more than 85,000 vehicles to customers in more than 60 countries. A public company, ZAP is traded on the Over-the-Counter stock exchange under the symbol ZAPZ. The company offers a variety of advanced technology vehicles, including cars, bicycles, scooters, motorbikes, underwater scooters and more.
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