Commerce One Completes Reorganization Into Holding Company Structure; Stockholders Approve Reorganization.Business Editors PLEASANTON, Calif.--(BUSINESS WIRE)--July 11, 2001 Commerce One, Inc., (Nasdaq:CMRC CMRC Canadian Motosport Racing Club CMRC Commerce One Inc. (stock symbol) CMRC Caribbean Marine Research Center CMRC Crime Mapping Research Center CMRC Credit Management Research Centre (UK) ) the e-marketplace company, today announced that it has completed its reorganization into a holding company structure. A majority of eligible stockholders voted in favor of the reorganization today at a special meeting of stockholders. The reorganization was completed under the terms of agreements with Ford Motor Company, General Motors Corporation, DaimlerChrysler AG and other automakers in connection with the formation of Covisint, an e-marketplace for the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. . In connection with the reorganization, Commerce One, Inc. changed its name to Commerce One Operations, Inc. and became a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of New Commerce One Holding, Inc., which in turn changed its name to Commerce One, Inc. New Commerce One Holding, Inc. (now renamed Commerce One, Inc.) common stock began trading on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. in place of former Commerce One, Inc. without interruption under the same trading symbol Trading symbol See: Ticker symbol , "CMRC." Stockholders of Commerce One, Inc. received one share of New Commerce One Holding, Inc. common stock for each share of Commerce One, Inc. common stock they held prior to the reorganization. The associated rights held by stockholders under the Commerce One stockholders rights plan will continue following the reorganization. Stock certificates that formerly represented shares of Commerce One, Inc. common stock and associated rights automatically represent shares of New Commerce One Holding, Inc. and associated rights. Stockholders do not need to exchange their stock certificates or take any action in connection with the reorganization. About Commerce One Commerce One(R) (Nasdaq:CMRC) is the e-marketplace company. Through its software, services and Global Trading Web(TM) of interconnected business communities, Commerce One enables worldwide commerce on the Internet. With headquarters in Pleasanton, Calif., and offices around the world, Commerce One can be reached by phone at 800/308-3838 or 925/520-6000 or via the Internet at www.commerceone.com. Forward Looking Statements The foregoing paragraphs include forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include statements concerning the expected significant benefits to Commerce One and its stockholders of the reorganization. The words "believe," "will" and similar phrases as they relate to Commerce One are intended to identify such forward-looking statements. Such statements reflect the current views and assumptions of Commerce One and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. These risks include, but are not limited to failure to realize the anticipated benefits of the restructuring, growth and profitability. For a discussion of these and other risk factors that could affect Commerce One's business, see "Risk Factors" in Commerce One's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2000, as well as its Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 31, 2001. Note to Editors: Commerce One, Many Markets. One Source. Global Trading Web, Commerce One.net, BuySite, MarketSite Operating Environment In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. , Global Trading Platform, Common Business Library, XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. Development Kit, XML Commerce Connector, MarketSite Builder, and SupplyOrder are either trademarks or registered trademarks of Commerce One, Inc. Enterprise Buyer and MarketSet are trademarks of Commerce One, Inc. and SAPMarkets. All other company, product, and brand names are trademarks of their respective owners. |
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