Citicorp announces completion of conversion of Series 12 and 13 preferred stock.NEW YORK--(BUSINESS WIRE)--Feb. 21, 1996--Citicorp today announced that all of the investors in its Series 12 and Series 13 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". , whose call had been announced in January January: see month. 1996, elected to convert to common stock. As a result, 58.9 million common shares have been issued. At Dec. 31, 1995 Citicorp had 427.3 million common shares outstanding. The conversions increase the number of shares outstanding, but have no effect on the number of fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. shares, which was 505.7 million in the 1995 fourth quarter. With the final conversions, Citicorp has no convertible securities outstanding. CONTACT: Citicorp Investor contact: Frederick Frederick, city, United States Frederick, city (1990 pop. 40,148), seat of Frederick co., NW Md.; settled 1745, inc. 1817. The processing center of a fertile farm and dairying area, it makes beer, household items, optical and glass products, leather goods, A. Roesch 212/559-2715 Press contact: John M. Morris 212/559-4285 |
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