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Stocks Z / Ziff-Davis
|Subject: Re: Did something happen?||Date: 5/4/2000 1:17 AM|
|Author: fyrwrrks||Number: 350 of 371|
Where did you find that stock conversion formula ?"
I apologize for inexactness but I'm a novice at this... After I got a translation from a friend, the initial information was from my proxy dated Feb 7, page 31 under "The Merger" "...after the merger, each share of ZD stock will remain outstanding as one share of common stock. In order to maintain the relationship between the ZD stock and ZDNet stock, in the merger we will convert each share of ZDNet stock into a number of shares of common stock equal to the reciprocal of the equivalency ratio... and so on..."
I received what I thought was clarification of that in a corrected press release off CNNfn around the time of the meeting on Feb 29 but didn't save it. That correction stated that for simplicity (and I'm sure other tax related reasons) it was easier to go 1 full share ZD to one full share of ZDNet and use the equivalency formula (which at that time was 1:1.77 for the ZDNet to new ZDNet stock.
Perhaps I still didn't interpret properly but that's the last I'm aware of.
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