Amerada Hess Changes Name to Hess Corporation and Announces Three-for-one Stock Split; Company's Stock to Commence Trading Under Symbol ``HES'' on May 9, 2006.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Amerada Hess Corporation (NYSE NYSE See: New York Stock Exchange :AHC AHC Appalachian Hardwood Center AHC American Heritage Center (University of Wyoming, Laramie, WY) AHC American Horse Council AHC Association for History and Computing AHC Australian Heritage Commission AHC Assault Helicopter Company ) announced today that it received the necessary number of votes at today's Annual Meeting of Shareholders to approve the change of its corporate name to "Hess Corporation" and an increase in the number of authorized shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. from 200 million to 600 million, in order to effect a stock split. "The 'HESS' brand is firmly established in our marketing and refining operations, readily recognized by our customers and in the communities we operate, and increasingly identified with our global exploration and production activities," said John B. Hess John B. Hess (born on April 5, 1954) is the Chairman and CEO of Hess Corporation. He was born in 1954 to Leon Hess and he graduated Harvard College in 1975; and Harvard University with an MBA in 1977. He married Susan Elizabeth Kessler. , Chairman and Chief Executive Officer. "This corporate name change strengthens recognition of our brand across all of our activities." To reflect the name change, the company's stock symbol will be changed to 'HES,' and shares will begin trading under the new symbol on May 9, 2006. Immediately following the Annual Meeting, the company declared a stock dividend to effect a three-for-one (3:1) stock split. Record holders of the Company's common stock as of the close of business on May 17, 2006 will receive two additional shares for each share held at that time. The additional shares will be distributed on May 31, 2006. Stockholders also approved the election of four directors, the ratification of the selection of independent auditors for 2006 and a compensation plan to limit certain compensation of designated senior officers of the company in order to comply with Section 162(m) of the Internal Revenue Code The Internal Revenue Code is the body of law that codifies all federal tax laws, including income, estate, gift, excise, alcohol, tobacco, and employment taxes. These laws constitute title 26 of the U.S. Code (26 U.S.C.A. § 1 et seq. . About Hess Corporation Hess Corporation, headquartered in New York, is a global integrated energy company engaged in the exploration for and the production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion