AT&T SETS NUMBER OF NCR SHARES TO BE DISTRIBUTED.NEW YORK--(BUSINESS WIRE)--Dec. 16, 1996--AT&T said today that 101,437,580.25 shares of NCR (NCR Corporation, Dayton, OH, www.ncr.com) A technology company specializing in financial terminal transactions, retail systems and data warehousing. Until the late 1990s, NCR was heavily invested in the hardware side of the industry, known worldwide as a major manufacturer of computers Corp. will be distributed on the basis of .0625 a share of NCR for each share of AT&T outstanding when the Dayton, Ohio Dayton is a city in southwestern Ohio, United States. It is the county seat and largest city of Montgomery County. As of the 2005 census estimate, the population of Dayton was 158,873. , computer company, is spun off from AT&T on December 31. The final tally of shares to be distributed was determined when AT&T had 1,623,001,284 shares outstanding after the close of market activity in AT&T shares last Friday. In November, the AT&T board of directors declared the 1-for-16 special stock dividend to AT&T shareowners of record on December 13, 1996. The distribution of all the shares of common stock in NCR held by AT&T will finalize fi·nal·ize tr.v. fi·nal·ized, fi·nal·iz·ing, fi·nal·iz·es To put into final form; complete or conclude: "They have jointly agreed ... the spinoff Spinoff A new, independent company created through selling or distributing new shares for an existing part of another company. Notes: Spinoffs may be done through a rights offering. of NCR. Shareowners who own 16 or more shares of AT&T will receive account statements for whole shares and partial shares in NCR. AT&T shareowners who own less than 16 shares will receive cash payments for fractional shares Fractional share Stocks amounting to less than one full share, usually resulting from splits, acquisitions, exchanges, or dividend reinvestment programs. fractional share Less than one share of stock, that is, one-third or one-half a share. . As previously announced, AT&T has received a ruling from the Internal Revenue Service that the dividend to shareowners qualifies as tax-free for U.S. federal income tax purposes, except to the extent that cash is received instead of fractional shares. The distribution remains subject to the conditions set forth in the spinoff agreement previously entered into between AT&T and NCR. CONTACT: Eileen M. Connolly 908-221-6731 (office) 914-361-4615 (home) econnolly@attmail.com or Jim Byrnes Jim Byrnes may refer to:
908-221-7876 (office) 908-689-6040 (home) jbyrnes@attmail.com |
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