| Orchid Paper Approves Stock Split |
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Pryor, Oklahoma, USA, 16 June 2006 -- /PRNewswire/ -- Orchids Paper Products Company (AMEX:TIS) announced today that its board of directors has approved a three-for-two split of the company's common stock to be effected in the form of a stock dividend.
The record date for the stock split will be 07 July 2006, with the distribution date expected to be on or about 21 July 2006. Stockholders of record on the record date will receive on the distribution date one additional share of the company's common stock for each two shares owned. In lieu of distributing fractional shares, the company will distribute cash. As proposed, the stock split would increase the number of outstanding shares of common stock from 4,156,250 to approximately 6,234,375 shares.
About Orchids Paper Products Company
Orchids Paper Products Company is an integrated manufacturer of tissue paper products serving the private label consumer market. The company produces a full line of tissue products, including paper towels, bathroom tissue and paper napkins. From its operations in Pryor, Oklahoma, Orchids Paper Products Company uses recycled waste paper to produce finished tissue products, which it provides to retail chains throughout the central United States. For more information on the company and its products visit http://www.orchidspaper.com/.
Source: Orchids Paper Products Company
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