Agilent Technologies Finalizes Ratio for Verigy Share Distribution.SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif. -- Agilent Technologies This article needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. Inc. (NYSE NYSE See: New York Stock Exchange :A) today announced that it has finalized the distribution ratio related to Agilent's distribution of shares in Verigy Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :VRGY), scheduled to occur after the close of market on Oct. 31, 2006. Agilent shareholders will receive 0.122435 of an ordinary share of Verigy for every one share of Agilent held. The distribution ratio was calculated by dividing the 50 million Verigy shares that Agilent intends to distribute by the 408,376,999 Agilent shares outstanding as of 5:00 p.m. (ET) on the record date of Oct. 16, 2006. Agilent will distribute all of the shares of Verigy that it owns, representing approximately 85 percent of Verigy's total shares outstanding, to Agilent shareholders on Oct. 31, 2006. No 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. of Verigy will be distributed to Agilent's shareholders. Instead, the transfer agent, on behalf of the shareholders, will aggregate all fractional shares and sell them through a broker in the public market. Agilent anticipates that these sales will occur as soon after the distribution as practicable. The net cash proceeds of these sales will be distributed on a pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. basis to the shareholders who would have otherwise received fractional shares. Information Regarding the Distribution Transaction Agilent's shareholders need not take any action, make any payment, or surrender any existing shares of Agilent's common stock to participate in the Verigy distribution. In addition, no vote of shareholders is required; therefore, no proxy will be solicited in connection with the distribution. The distribution of Verigy will not affect the number of Agilent common shares outstanding or the number of Agilent shares owned by each shareholder. Agilent shareholders entitled to the dividend of Verigy shares will receive a book-entry account statement reflecting their ownership of Verigy ordinary shares, or their brokerage account Brokerage Account An arrangement between an investor and a licensed brokerage firm that allows the investor to deposit funds with the firm and place investment orders through the brokerage, which then carries out the transactions on the investor's behalf. will be credited for the shares. Agilent plans to send an information statement regarding this transaction to its shareholders later this week. The information statement will include details on the distribution and will also be posted on Agilent's investor Web site at www.investor.agilent.com. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created therein. The forward-looking statements contained herein include, but are not limited to, Agilent's planned distribution of Verigy ordinary shares to holders of Agilent common stock, the expected distribution ratio and the timing of the distribution. Actual events may differ materially from current expectations. Such risks and uncertainties include, but are not limited to, unforeseen changes in the planned distribution schedule and unexpected changes to the market for Agilent and Verigy shares. Forward-looking statements are based on the beliefs and assumptions of Agilent's management and on currently available information. Agilent undertakes no responsibility to publicly update or revise any forward-looking statement. About Agilent Technologies Agilent Technologies Inc. (NYSE:A) is the world's premier measurement company and a technology leader in communications, electronics, life sciences and chemical analysis. The company's 20,000 employees serve customers in more than 110 countries. Agilent had net revenue of $5.1 billion in fiscal year 2005. Information about Agilent is available on the Web at www.agilent.com. NOTE TO EDITORS: Further technology, corporate citizenship Corporate Citizenship The extent to which businesses are socially responsible in meeting legal, ethical and economic responsibilities placed on them by shareholders. The aim it to create higher standards of living and quality of life in the community in which it operates, while and executive news is available on the Agilent news site at www.agilent.com/go/news. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion