اليك الخبر والتقسيم تقرر 5 مقابل 1 وسوف يتغيير الرمز الي
Z-Tel Technologies, Inc. Announces Results of Special Meeting of Stockholders
2004-11-19 17:12 ET - News Release
TAMPA, Fla. -- (Business Wire) -- Nov. 19, 2004
Z-Tel Technologies, Inc. (Nasdaq/SC:ZTELC), parent
company of Z-Tel Communications, Inc., a leading provider of enhanced
wireline and broadband telecommunications services, announced today
that its stockholders, at a special meeting of its stockholders held
today, approved its previously announced exchange offer (the "Exchange
Offer") of its common stock for all of its outstanding classes and
shares of preferred stock and related transactions described below.
The Exchange Offer is scheduled to expire on November 29, 2004 and the
Exchange Offer related transactions will be effective as of the close
of business on November 29, 2004.
Z-Tel's stockholders also approved the following related
transactions at the special meeting, subject to the consummation of
the Exchange Offer: (a) an amendment and restatement of its charter
to, among other things, (i) to effect a reverse stock split of Z-Tel's
common stock with the ratio determined by Z-Tel's board of directors;
(ii) subject to all of the Series G or D preferred stock being
exchanged in the Exchange Offer, eliminate each such fully tendered
series following its Exchange Offer; (iii) in the case that all of
either the Series G or Series D is not exchanged, eliminate certain
restrictive provisions with respect to each such series and (iv)
eliminate the Series E preferred stock following the Exchange Offer
and (b) the adoption of a new management equity incentive plan and
reservation of shares for issuance thereunder representing 8% of the
fully diluted common stock of Z-Tel, after giving effect to the
reverse stock split. Z-Tel's stockholders also approved an amendment
to its charter to change its name to Trinsic, Inc., which will be
effective as of January 3, 2005. In connection with the name change,
Z-Tel will change its trading symbol to TRIN effective as of the close
of business on January 3, 2005.
The board of directors of Z-Tel has determined that the reverse
stock split ratio referred to in the proceeding paragraph will be 5
for 1, and that the record date for the reverse stock split be as of
the close of business on November 29, 2004, which will be the
effective time of the reverse stock split, subject to the consummation
of the Exchange Offer. Z-Tel expects to begin trading on a post
reverse split basis on November 30, 2004.
الموقع
http://www.stockwatch.com/swnet/new...8-U:ZTELC-20041119&symbol=ZTELC&news_region=U