NEWS CORP GIVES UPDATE ON PROPOSED LISTING OF CLASS A STOCK IN DOW JONES ACQUISITION
December 21st 2007 00:38
News Corp yesterday updated the Australian Securities Exchange over its announcement of proposed listing of additional Class A common stock – Dow Jones acquisition, which it lodged with the ASX on December 4, 2007 (See M[I]ediaBlab[/I] archive).
News Corp has now advised “that the number of Ruby Newco Class B common stock issued to certain holders of Dow Jones as a result of the conclusion of the merger has been determined as 7,900,672.”
Each of the holders of those units may, between 121 and 180 days after the closing of the merger, be permitted to exchange up to 25 percent of the total number of units the holder received for shares of News Corporation Class A non-voting common stock.
The initial exchange rate will be one share of News Corporation Class A non-voting common stock for each unit.
Further, an additional amount of 7,661,286 as been determined to provide for the exchange of Dow Jones equity awards.
Accordingly, a total of 15,561,958 News Corporation Class A non-voting common stock may be issued as a result such exchanges. Listing will be sought on the Australian Stock Exchange as and when such exchanges are given effect.
- From MediaBlab
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