AirTouch Communications Announces No Contingent Payment on Class B Preferred Stock.SAN FRANCISCO--(BUSINESS WIRE)--Dec. 16, 1996--AirTouch Communications Inc. (NYSE NYSE See: New York Stock Exchange :ATI (ATI Technologies Inc., Markham Ontario, http://ati.amd.com) A leading manufacturer of graphics chips and display adapters. Founded in 1985 by K. Y. Ho, Benny Lau and Lee Lau, ATI chips and boards are widely used by OEMs. ) announced today that, based upon the volume weighted average trading price Trading price The price at which a security is currently selling. of its 6.00% Class B Mandatorily Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". , Series 1996, over the 30 calendar day period commencing Nov. 16, 1996 and ending Dec. 15, 1996, no contingent payment is required under the terms of the Class B Preferred Stock. Accordingly, AirTouch will not make a contingent payment to holders of its Class B Preferred Stock as of Dec. 15, 1996. AirTouch Communications is a global wireless communications company, with interests in cellular, paging, and personal communications services See PCS. in the United States, Belgium, Germany, India, Italy, Japan, Poland, Portugal, Romania, South Korea, Spain, and Sweden, as well as an interest in the Globalstar satellite system. The company, based in San Francisco, serves over 7.2 million proportionate customers worldwide. -0- For a fax copy of this or other recent AirTouch press releases, please call 1-800-344-7531 or visit the AirTouch web site at http://www.airtouch.com . CONTACT: AirTouch Communications Amy Damianakes, 510/210-3645 |
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