Courtesy of Benzinga
Arch Capital Group Ltd. (NASDAQ: ACGL) today announced that its shareholders have approved an amendment to the Company’s Memorandum of Association to effect a three-for-one split of the Company’s common shares. Holders of common shares as of the close of business on May 6, 2011 will receive two additional common shares for each common share owned. Shareholders’ accounts will be credited with the additional shares on or about May 11, 2011.
On or about May 12, 2011, solely as a result of the share split, the per share market price for the common shares will be proportionately reduced to one-third of the price it would have otherwise been.
