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Stocks G / Golden State Bancorp, Inc.
|Subject: Answered my own question||Date: 6/1/1998 12:17 PM|
|Author: JJinLA||Number: 11 of 43|
Warrants were issued to shareholders on 5/29, trade under ticker "gsbnz" on the 'Daq.
Golden State Bancorp Declares Distribution of Litigation Tracking Warrants
BusinessWire, Thursday, April 23, 1998 at 14:35
GLENDALE, Calif.--(BUSINESS WIRE)--April 23, 1998--
Board establishes record date of May 7, 1998 and distribution date of
May 29, 1998 -- LTW(tm)s to trade on NASDAQ National Market System
Golden State Bancorp Inc. (NYSE:GSB), parent company of Glendale
Federal Bank, announced today that its Board of Directors has declared
a distribution of its Litigation Tracking Warrants (LTW(tm)s).
Certificates representing the LTW(tm)s are expected to be mailed
on May 29, 1998 to common stockholders of record on May 7, 1998. The
company has reserved additional LTW(tm)s for distribution in
connection with future conversions and exercises of the Company's
outstanding convertible preferred stock, warrants and stock options.
The distribution will be made on the basis of one LTW(tm) for each
outstanding share of common stock.
Stephen J. Trafton, chairman and chief executive officer of
Golden State Bancorp, said: "The market will now be able to track the
value of our goodwill litigation separately from the franchise value
of the Company. This will also allow the marketplace to more
accurately value both assets. It is the next step forward in a series
of corporate transactions, including our recently completed
acquisition of CENFED Financial Corporation and our p