KEMET Corporation Announces Stockholder Approval to Effect a Reverse Stock Split
November 5, 2010
GREENVILLE, SC – November 4, 2010 – KEMET Corporation (NYSE Amex: KEM) (the Company) announced today that the Company’s stockholders approved an amendment to its Restated Certificate of Incorporation to effect a reverse stock split (the Reverse Stock Split) at a special meeting of stockholders held on November 3, 2010. The Reverse Stock Split was previously approved by the Company’s Board of Directors.
The Company currently intends to file, on November 5, 2010, a Certificate of Amendment to its Restated Certificate of Incorporation to effect the Reverse Stock Split at a ratio of one-to-three (1:3). Upon the effective time of the Certificate of Amendment to the Restated Articles of Incorporation, each outstanding share of the Company’s common stock will automatically be changed into one-third of a share of common stock. No fractional shares will be issued in connection with the Reverse Stock Split. Holders of common stock who would otherwise receive a fractional share of common stock pursuant to the Reverse Stock Split will receive cash in lieu of the fractional share. The Company expects the Reverse Stock Split to become effective for trading purposes at the opening of the market on November 8, 2010.
About KEMET
The Company’s common stock is listed on the NYSE Amex under the ticker symbol KEM (NYSE Amex: KEM). KEMET applies world class service and quality to deliver industry leading, high performance capacitance solutions to its customers around the world and offers the world’s most complete line of surface mount and through hole capacitor technologies across tantalum, ceramic, film, aluminum, electrolytic, and paper dielectrics.
