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Technology Stocks : Sycamore Networks Inc-(SCMR)

SCMR 0.226

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Nov 30 4:00 PM EST

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From: Celtictrader

2/13/2013 2:05:44 PM

of 2249

SCMR Sycamore Networks Approves $1.81 Per-Share Special Distribution
7:11a ET February 8, 2013 (Dow Jones)

Sycamore Networks Approves $1.81 Per-Share Special Distribution

By Ben Fox Rubin

Sycamore Networks Inc. (SCMR) approved a special cash distribution of $1.81 a share, following its decision to dissolve and liquidate the company.
The distribution comes after the firm already distributed more than $750 million in special dividends over the past three years, leaving it with a small cash pile and little funds to invest in its next product lines.
The networking-gear company, which unveiled its plans to liquidate in October, sold substantially all its remaining product line to private investment firm Marlin Equity Partners, ending the public life of the former tech giant.
The board hasn't yet determined a date to file a certificate of dissolution.
Shares closed Thursday at $2.28 and were inactive premarket. The stock is down 60% over the past three months.

Write to Ben Fox Rubin at ben.rubin@dowjones.com

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(END) Dow Jones Newswires
February 08, 2013 07:11 ET (12:11 GMT)
Copyright (c) 2013 Dow Jones & Company, Inc.DN201302080061552013-02-08 12:11:00.0007B9UAJFSUA38K7FI01DFIMJQ8SDJNF

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2/8/2013	12:11a	Sycamore Networks Approves $1.81 Per-Share Special DistributionDow Jones

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