Lorala[euro](tm)s board declares special distribution of USD29.00 per share.
M2 EQUITYBITES-November 8, 2012-Lorala[euro](tm)s board declares special distribution of USD29.00 per share(C)2012 M2 COMMUNICATIONS http://www.m2.com
The board of directors of satellite communications company Loral Space & Communications Inc (Nasdaq:LORL) has declared a special distribution of USD29.00 per share for an aggregate distribution of up to USD899.3m, the company announced on Wednesday.
This distribution is reportedly in connection with receipt of proceeds from the sale of its former subsidiary Space Systems/Loral.
Loral said that the distribution payout will be made on 4 December 2012 to holders of record of Loral voting and non-voting common stock as of 19 November 2012.
As of 6 November 2012, there were outstanding 21,250,279 shares of Loral voting common stock, 9,505,673 shares of Loral non-voting stock and 256,098 stock options and restricted stock units, the company added.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Nov 8, 2012|
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