JOHNS CREEK, Ga., Sept. 20, 2018 (GLOBE NEWSWIRE) -- Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, today announced its Board of Directors has approved a five-for-one split of the Company's common stock, subject to shareholder approval of an amendment to the Company’s Certificate of Incorporation. Since the Company presently does not have a sufficient number of authorized shares required to effectuate the stock split, the Company’s Board has approved, and is recommending to its shareholders, an amendment to the Company’s Certificate of Incorporation increasing the number of authorized shares of common stock to 220 million to handle the split and possible future capitalization needs. The Company will be holding a special meeting of shareholders of record as of October 11, 2018 so that the increase in authorized shares can be approved by the shareholders. The Company anticipates holding this meeting on or about November 16, 2018. The increase in authorized shares must be approved by shareholders at this special meeting before the stock split can be effective.

The Company anticipates a record date for the stock split will be set shortly after the special meeting occurs. Provided the shareholders approve the amendment, each shareholder of record at the close of business on such date will receive four additional shares for every outstanding share held on the record date, and trading is likely to begin on a split-adjusted basis prior to December 15, 2018.

Robin Raina, Chairman of the Board, president & CEO said, "This stock split is intended to further improve our liquidity and to make our shares more accessible, both to institutions and to the individual shareholders."

About Ebix, Inc.

With 50+ offices across 5 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to provide On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. In the Insurance sector, the Company’s main focus is to develop and deploy a wide variety of insurance and reinsurance exchanges on an on-demand basis, while also, providing Software-as-a-Service ("SaaS") enterprise solutions in the area of CRM, front-end & back-end systems, outsourced administrative and risk compliance, across the world.