QUANTUM Message Board - Msg: 10634802

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Technology Stocks : QUANTUM

QNTM 12.34

-4.9%

Oct 30 3:53 PM EDT

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To: ddt99 who wrote (9084)	7/23/1999 4:39:00 PM
From: Sam	Read Replies (1) of 9124

24 3/4, not too bad all things considered. Tracking stock proposal approved, not much of a surprise. Tracking stocks to begin trading on Monday on a wi basis. Friday July 23, 4:02 pm Eastern Time Company Press Release Quantum Corporation Shareholders Approve Tracking Stock Proposal MILPITAS, Calif.--(BUSINESS WIRE)--July 23, 1999--Quantum Corporation (Nasdaq NMS:QNTM - news) shareholders today approved the company's initiative to replace its existing common stock with two separate tracking stocks that reflect the performance of its two primary business units -- the Hard Disk Drive Group (HDDG) and DLT and Storage Systems Group (DSSG). With the approval, Quantum becomes the first Silicon Valley-based company to successfully implement a tracking stock strategy. The new tracking stocks will begin trading on a when-issued basis on Monday, July 26, 1999. Under the initiative, announced in a press release on March 1, 1999, shareholders will receive one-half share of the HDDG-based stock and one share of the DSSG-based stock for each share of Quantum stock held. The company will continue to operate as a single organization with one board of directors.

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