Methode Announces Stratos Distribution Ratio
biz.yahoo.com
CHICAGO, April 9 /PRNewswire/ -- Methode Electronics, Inc. (Nasdaq: METHA - news)
and Stratos Lightwave, Inc. (Nasdaq: STLW - news) today jointly announced that the final
distribution ratio for the Stratos distribution is 1.511303 shares of Stratos common stock for
each share of Methode Class A and Class B common stock. The final distribution ratio was
calculated by taking the 54,029,807 shares of Stratos common stock owned by Methode
and dividing it by 35,750,470, representing the aggregate number of shares of Methode
Class A and Class B common stock outstanding on the record date. The Stratos shares will
be distributed as of April 28, 2001 to holders of record of Methode's Class A and Class B
common stock as of the close of business on April 5, 2001.
Between the record date and the close of market on April 27, 2001, there will be two
markets available in Methode Class A and Class B common stock, a ``regular way'' market
and an ``ex-distribution'' market. Methode Class A and Class B common stock in the regular
way market, under the ticker symbols METHA and METHB, include the entitlement to the
Stratos distribution. Methode Class A and Class B common stock trading in the
ex-distribution market, under the ticker symbols METHV and MEHBV, trade without the
entitlement to the Stratos distribution.
Between the record date and the close of market on April 27, 2001, there will also be two
markets available in Stratos common stock. Stratos common stock trading in the regular way
market, under the ticker symbol STLW, will trade in the same manner as it did before the
record date. Stratos common stock trading in the when-issued market, under the trading
symbol STLWV, represents Stratos common stock that will be distributed to Methode Class
A and Class B stockholders on the distribution date. Trades effected in the when-issued
market will be settled with shares of Stratos common stock issued in the distribution.
For additional information on the Stratos Lightwave distribution, please visit Methode's
website at methode.com or call 708-867-6777. Information on Stratos
Lightwave can be obtained at stratoslightwave.com or by calling 708-867-9600.
About Methode Electronics
Methode Electronics, Inc., with 3,400 employees in 19 plants worldwide (excluding Stratos Lightwave), manufactures
component devices for Original Equipment Manufacturers (OEMs) of information processing and networking equipment, voice
and data communications systems, consumer electronics, automobiles, aerospace vehicles and industrial equipment. Products
employ electrical, electronic and fiber optic technologies in communication data links, interconnections and controls.
About Stratos Lightwave
Stratos Lightwave, Inc. develops, manufactures and sells optical subsystems and components for high data rate networking,
data storage and telecommunications applications. These optical systems are used in local area networks (LANs), storage area
networks (SANs), metropolitan area networks (MANs), wide area networks (WANs) and central office networking in the
telecommunications market. The company also designs, manufactures and sells a full line of optical components and cable
assemblies for use in these networks. |
