Citigroup Announces Revised Distribution Ratio for Travelers Property Casualty Spin-off.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 16, 2002 Citigroup (NYSE NYSE See: New York Stock Exchange : C) today announced that it has revised the final distribution ratio relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc its distribution of 219,050,000 shares of class A common stock and 450,050,000 shares of class B common stock of Travelers Property Casualty Corp. (Travelers) to holders of Citigroup common stock. The revision will result in Citigroup stockholders receiving slightly more shares of Travelers common stock than previously announced. The revision was precipitated by a correction in the number of outstanding shares of Citigroup common stock. Based upon the 5,070,089,240 outstanding shares of Citigroup common stock held of record at 5:00 p.m. Eastern Time on August 9, 2002, the record date for the distribution, Citigroup will distribute, on August 20, 2002, a combination of 0.0432043 of a share of Travelers class A common stock and 0.0887656 of a share of Travelers class B common stock for each such outstanding share of Citigroup common stock. As previously stated, 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 Travelers class A common stock or Travelers class B common stock will be delivered as part of the distribution. Instead, fractional shares will be aggregated and sold on behalf of all stockholders. The net sale proceeds will then be distributed on a pro-rata basis to the affected stockholders. Citigroup (NYSE: C), the preeminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company with some 200 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , Banamex and Travelers Life & Annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. . Additional information may be found at: www.citigroup.com. |
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