The primary reason is to approve the Comdisco Ventures tracking stock. IMHO, CDO is a no-brainer.
biz.yahoo.com
Monday March 20, 10:27 am Eastern Time
Company Press Release
Comdisco, Inc. Sets Special Stockholder Meeting for April 20, 2000 to Approve Ventures Tracking Stock
ROSEMONT, Ill.--(BUSINESS WIRE)--March 20, 2000--Comdisco, Inc. (NYSE:CDO - news) announced today that it has set April 20, 2000 as the date for a special meeting of Comdisco stockholders to authorize the creation of more than one series of Comdisco common stock including authorization for Comdisco Ventures tracking stock. The Comdisco Ventures tracking stock will track the performance of Comdisco's Ventures finance business unit. The outstanding Comdisco, Inc. common stock will be designated as Comdisco Group stock and will track the balance of Comdisco's businesses.
Comdisco stockholders of record on March 27, 2000 will be eligible to vote at the special meeting. The definitive proxy statement and voting materials will be mailed to stockholders beginning the week of March 27. Comdisco is filing its definitive proxy statement with the SEC today.
Comdisco intends to conduct an initial public offering of Comdisco Ventures tracking stock in the spring following the stockholder vote. Comdisco anticipates that the remaining shares of Comdisco Ventures tracking stock will be distributed to Comdisco Group stockholders sometime thereafter, either as a dividend on, or in exchange for, Comdisco Group shares.
At the meeting, Comdisco stockholders will be asked to approve amendments to Comdisco's charter, the creation of these separate series of Comdisco common stock, and amendments to and creation of certain incentive plans.
Comdisco Ventures stock will trade as ``letter' or ``tracking stock' and is not expected to pay dividends for the foreseeable future.
About Comdisco, Inc.: Comdisco (www.comdisco.com) provides global technology services to help its customers maximize technology functionality, predictability and availability, while freeing them from the complexity of managing their technology. The Rosemont, (IL) company offers a complete suite of information technology services including business continuity, managed network services, and IT Control and Predictability Solutions SM. Through its subsidiary, Prism Communication Services Inc., Comdisco is developing a high-speed, always-on digital network, which will provide customers with leading-edge connectivity. Comdisco also offers equipment services to key vertical industries, including electronics, communications, laboratory & scientific, and industrial automation. Through its Ventures group, Comdisco is a leader in providing equipment leasing and other financing and services to venture capital backed start-up companies. The company's revenue for the 12 months ended December 31, 1999, was $4.1 billion.
Comdisco is a registered trademark of Comdisco, Inc.
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Contact:
Comdisco, Inc.
James J. Hyland, 847/518-5051 (Investor Contact)
jjhylan@comdisco.com
or
Kristin Van, 847/518-7999 (Media Contact)
kvvan@comdisco.com |
