Big Flower Adopts New Holding Company Structure.NEW YORK--(BUSINESS WIRE)--Oct. 17, 1997--Big Flower Press Holdings, Inc. (NYSE NYSE See: New York Stock Exchange :BGF BGF Black Guerrilla Family (Afro-American prison gang symbol/tattoo) BGF Boursier du Gouvernement Français (French) BGF Black Guerilla Family (gang) BGF Best Guy Friend ), announced today that it has adopted a new corporate legal structure. Big Flower Holdings, Inc. ("Big Flower Holdings"), has become the new holding company of Big Flower Press Holdings, Inc. ("Big Flower Press"), which has become a wholly- owned subsidiary of its new parent, and the common stock of Big Flower Press has been automatically exchanged for common stock of Big Flower Holdings. The purpose of this reorganization is to facilitate certain previously announced financings. The business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets of Big Flower Press have not changed as a result of implementing the new legal structure. The reorganization has been effected pursuant to Section 251(g) of the Delaware General Corporation Law, and has been structured in a manner that did not require action by the stockholders of Big Flower Press, whose rights, privileges and interests remain the same with respect to Big Flower Holdings. Big Flower Press' name, charter, by-laws and board of directors did not change as a result of the reorganization, and Big Flower Holdings will have the same board of directors as Big Flower Press. The common stock of Big Flower Holdings will trade under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "BGF" of the NYSE; the CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. for its common stock has been changed. CONTACT: Irene B. Fisher Vice President and Associate General Counsel 212/521-1622 |
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