EBIX, INC. (NASDAQ:EBIX) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
On December 21, 2018, Ebix announced that its shareholders had approved by a wide margin an increase in the Company’s Authorized shares to 220 million from 120 million. Approval for the increase in authorized shares was required to provide a sufficient number of authorized shares to effectuate a split of Ebix’s common stock approved by the Company’s Board of Directors. Also, announced was its intentions to still implement a split of its common stock, in light of the decline in Ebix’s share price since the end of September, the Company has elected to delay such action until its share price has rebounded to a level where a stock split would result in a higher post-split share price. Additionally, the Company may consider implementing an alternative stock split ratio, such as two-, three- or four-for one, depending on the prevailing share price, market conditions and other factors.
Ebix also issued an update on its Share repurchase plan while declaring that since October 1, 2018, the Company has repurchased 966,773 shares of its outstanding common stock for an aggregate amount of $47.4 million. Based on these repurchases as of today, Ebix expects its diluted share count for Q1 2019 to be approximately 30.65 million.
On December 21, 2018, the Company issued a press release announcing the details regarding an update on it’s share repurchases and plans for a proposed stock split. A copy of this press release is being filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference in its entirety.
Item 9.01 Financial Statements and Exhibits.
EBIX INC Exhibit
EX-99.1 2 sharerepurchasesandplansfo.htm EXHIBIT 99.1 Exhibit Exhibit 99.1Ebix Issues Update on Share Re-Purchases and Plans for Proposed Stock SplitJOHNS CREEK,…
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About EBIX, INC. (NASDAQ:EBIX)
Ebix, Inc. (Ebix) is a supplier of software and e-commerce solutions to the insurance industry. Ebix provides application software products for the insurance industry, including carrier systems, agency systems and exchanges, as well as custom software development. Ebix conducts its operations through four channels, which include Exchanges, Carrier Systems, Broker Systems and Risk Compliance Solutions (RCS). Ebix operates data exchanges in the areas of life insurance, annuities, employee health benefits, risk management, workers compensation, and property and casualty (P&C) insurance. Ebix designs and deploys back-end systems for P&C insurance brokers across the world. Ebix also designs and deploys on-demand and back-end systems for P&C insurance companies. Ebix focus in RCS channel pertains to business process outsourcing services that include providing project management, time and material consulting to clients across the world, and claims adjudication/settlement services.