JASPER, Ind.--(BUSINESS WIRE)--Oct. 7, 2014--
Kimball International, Inc. (NASDAQ: KBALB) (“Kimball International” or
the “Company”), an Indiana-based manufacturer, today announced that the
U.S. Securities and Exchange Commission (the “SEC”) has declared
effective the Form 10 Registration Statement filed by Kimball
Electronics, Inc. (“Kimball Electronics”), regarding the Company’s
spin-off of its Electronic Manufacturing Services (“EMS”) business.
Kimball International anticipates the completion of the separation of
Kimball Electronics on October 31, 2014. A copy of the Kimball
Electronics Registration Statement on Form 10 is available for review at www.sec.gov
and also on the Company’s investor relations page on its website at www.kimball.com.
Today’s announcement follows the approval last week by the Kimball
International Board of Directors of the final distribution ratio and the
declaration of a pro rata dividend in the amount of three shares of
Kimball Electronics common stock for every four shares of Kimball
International Class A or Class B common stock. Following the
distribution of Kimball Electronics common stock shares on October 31,
2014, Kimball Electronics will be an independent, publicly-traded
Kimball International will continue to operate its furniture business
under the Kimball brand names of Kimball Office, National Office
Furniture and Kimball Hospitality.
Kimball International anticipates that, at least two days prior to the
record date of October 22, 2014, trading of shares of Kimball
Electronics common stock on The NASDAQ Stock Market will begin on a
“when-issued” basis, under the ticker symbol “KEIVV,” and will continue
up to and including the distribution date, and that “regular-way”
trading of Kimball Electronics common stock, under the ticker symbol
“KE,” will begin the first trading day after the distribution date.
Kimball International also anticipates that, at least two trading days
prior to the record date and through the distribution date, there will
be two markets in its common stock: a “regular-way” market, under the
ticker symbol “KBALB,” on which shares of its common stock will trade
with an entitlement to shares of Kimball Electronics common stock, to be
distributed pursuant to the distribution, and an “ex-distribution”
market, under the ticker symbol “KBALV,” on which shares of its common
stock will trade without an entitlement to shares of Kimball Electronics
common stock. Kimball International plans to change its NASDAQ trading
ticker symbol from KBALB to KBAL as of the first trading day after the
Kimball International and Kimball Electronics will share their
respective company’s strategy and future outlook in a series of investor
meetings starting next week.
About Kimball International:
Recognized with a reputation for excellence, Kimball International is
committed to a high performance culture that values personal and
organizational commitment to quality, reliability, value, speed, and
ethical behavior. Kimball International employees know they are part of
a corporate culture that builds success for Customers while enabling
employees to share in the Company’s success through personal,
professional and financial growth.
Kimball International, Inc. (NASDAQ: KBALB) is a diversified global
manufacturer and marketer, providing a variety of products from its two
business segments: the Furniture segment and the Electronic
Manufacturing Services segment. Upon completion of the spin-off of its
subsidiary, Kimball Electronics, Inc., the Furniture segment will be the
sole segment comprising the Company. The Furniture segment provides an
extensive and growing selection of furniture for the office and
hospitality industries, sold under the Company’s family of brand names:
Kimball Office, National Office Furniture, and Kimball Hospitality.
To learn more about Kimball International, visit the Company’s website
on the Internet at: www.kimball.com
About Kimball Electronics:
Kimball Electronics, Inc., a subsidiary of Kimball International, will
become an independent publicly traded company upon completion of its
spin-off from Kimball International, Inc. on October 31, 2014 and
thereafter trade under the symbol “KE” on The NASDAQ Stock Market.
Kimball Electronics is a global contract electronic manufacturing
services (“EMS”) company that specializes in durable electronics for the
medical, automotive, industrial and public safety markets. Kimball
Electronics is well recognized by customers and industry trade
publications for its excellent quality, reliability and innovative
service. From its manufacturing operations in the U.S., Mexico,
Thailand, Poland, and China, Kimball Electronics provides engineering,
manufacturing, and supply chain services which utilize common production
and support capabilities to a variety of industries globally. Kimball
Electronics is headquartered in Jasper, Indiana.
To learn more about Kimball Electronics, Inc., visit: www.kimballelectronics.com
“Kimball International … We Build Success!”
Source: Kimball International, Inc.
Dennis Gerber, 812-482-8619