Impco reorganizers with holding company.IMPCO Technologies Inc., based in Cerritos, said June 28 that it plans to reorganize re·or·gan·ize v. re·or·gan·ized, re·or·gan·iz·ing, re·or·gan·iz·es v.tr. To organize again or anew. v.intr. To undergo or effect changes in organization. the company and create a new holding company, Fuel Systems Solutions Inc., of which Impco will be a subsidiary. After approval by shareholders and the reorganization. Impco will become 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 Fuel Systems that will be based in Delaware. The company expects Fuel Systems to 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 "FSYS." Impco shareholders will receive one common share of Fuel Systems for every two common shares of Impco. Shareholders will receive cash for 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. . Outstanding warrants and options to buy Impco common shares will become warrants and options to buy one share of the new company for every two shares of Impco. |
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