EMC CORPORATION TO REDEEM 61 4% CONVERTIBLE SUBORDINATED DEBENTURES DUE 2002.
The redemption date for the debentures is April 1, 1995. Payment of the redemption price of 104.375% per debenture together with accrued and unpaid interest shall be made on April 1, 1995. All debentures must be presented for payment to State Street Bank and Trust Company, Trustee, Two International Place, Boston, Massachusetts 02110.
According to EMC Senior Vice President and Chief Financial Officer, W. Paul Fitzgerald, "As share equivalents of the debentures to be redeemed are already included in the fully diluted earnings per share calculations, there will be no impact on the Company's fully diluted earnings per share."
The debentures, issued by EMC in March 1992 currently are trading at $542.84 per debenture. The debentures are convertible into shares of EMC Common Stock at any time on or prior to the date fixed for redemption at a conversion price of $3.0625 per share. On February 8, 1995, the closing price of EMC Common Stock on the New York Stock Exchange was $16.375.
EMC Corporation is a Fortune 500 company traded on the NYSE under the symbol EMC. EMC is a world leader in enterprise-wide information storage and retrieval technology.
CONTACT: JOHN J. RYAN
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|Date:||Feb 9, 1995|
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