Liberate Announces Effective Date for Reverse/Forward Stock Split
08 12월 2005 - 6:10AM
PR Newswire (US)
PALO ALTO, Calif., Dec. 7 /PRNewswire-FirstCall/ -- Liberate
Technologies (Pink Sheets: LBRT), announced today that December 19,
2005 has been established as the effective date for its proposed
reverse/forward stock split, conditioned upon stockholder approval
at the special meeting of stockholders to be held on December 15,
2005. As previously announced on June 16, 2005, Liberate's Board of
Directors approved a reverse 1-for-250,000 split of Liberate common
stock to be followed immediately by a forward 250,000-for-1 split,
subject to stockholder approval, as part of a "going private"
transaction. Persons otherwise entitled to receive less than one
share in the reverse stock split (that is, stockholders holding
less than 250,000 shares at the effective time of the reverse stock
split) would instead receive cash in the amount of $0.20 per share.
The transaction is subject to the approval of Liberate's
stockholders and certain other conditions. If the transaction is
approved by stockholders and implemented, Liberate expects to have
fewer than 300 stockholders of record, which would enable Liberate
to voluntarily terminate the registration of its common stock under
the Securities Exchange Act of 1934, as amended, and become a
non-reporting company. IMPORTANT ADDITIONAL INFORMATION FILED WITH
THE SEC Liberate has filed a definitive proxy statement and
Schedule 13E-3 transaction statement in connection with the
proposed reverse/forward stock split. The proxy statement was
mailed to the stockholders of Liberate on or about November 14,
2005. Liberate's stockholders are urged to read the proxy statement
and other relevant materials because they contain important
information about the proposed reverse stock split. Investors and
security holders may obtain free copies of these documents and
other documents filed with the Securities and Exchange Commission
(the "SEC") at the SEC's web site at http://www.sec.gov/. In
addition, stockholders are encouraged to vote on the proposal, and
may obtain additional information, including free copies of the
documents filed with the SEC, by calling the Altman Group at
1-800-814-0457. Liberate and its officers and directors may be
deemed to be participants in the solicitation of proxies from
Liberate's stockholders with respect to the proposed reverse stock
split. A description of any interests that Liberate's officers and
directors have in the proposed reverse stock split is contained in
the proxy statement. Contact: Greg Wood Chief Financial Officer
Liberate Technologies (650) 330-8964 DATASOURCE: Liberate
Technologies CONTACT: Greg Wood, Chief Financial Officer of
Liberate Technologies, +1-650-330-8964, or Web site:
http://www.liberate.com/
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