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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Aggie who wrote (63140)	3/28/2000 10:19:00 AM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

Aggie - re: COC a vs. b shares..."Think Big - Move Fast" conoco.com Q -- What symbol is Conoco?s stock traded under? A -- Conoco's stock is listed on the New York Stock Exchange under the symbols COC.A and COC.B. Q -- What is the difference between Class A and Class B shares? A -- Conoco Class A and Class B common stocks have substantially identical rights, other than voting rights. Class A shares have one vote each, while Class B shares have five votes each. This structure was selected by DuPont to facilitate the maximum after-tax return on its disposition of Conoco for DuPont and its shareholders. DuPont chose to divest Conoco in two separate transactions: (1) the initial public offering by Conoco of 191.5 million shares of Class A common stock in October 1998 (the "IPO") and (2) the exchange of 148 million shares of DuPont common stock for 436.5 million shares of Class B common stock in July of 1999 (the "split-off"). In order to achieve the desired tax treatment on the overall disposition of Conoco, DuPont needed to retain in excess of 80% voting control of Conoco after the IPO. Because DuPont wanted to divest more than 20% of Conoco in the IPO, it elected to create a high vote stock (the Class B shares) and a low vote stock (the Class A shares). Since Conoco sold only the Class A shares in the IPO, after the IPO DuPont held 69.5 percent of Conoco?s outstanding common stock; however, because it held high vote Class B shares, DuPont held 92% of the voting power in Conoco. DuPont?s remaining ownership and voting power in Conoco were divested in the split-off. Q -- Are annual reports and other financial data available for years prior to 1998? A -- Until 1998, Conoco was a wholly owned subsidiary of DuPont and Conoco?s financial reports were included within DuPont?s publications. However, the 1998 Conoco Annual Report does provide restated financial data for the previous three years. Q -- How do I calculate the tax basis in my Conoco Class B common stock I received through the DuPont exchange? A -- DuPont provided tax basis information to all shareholders in October, 1999. If you have any additional questions regarding tax basis or need a copy of the information mailed to shareholders, please contact DuPont Stockholder Relations at (302) 774-0195. Q -- Does Conoco have a Dividend Reinvestment or Direct Stock Purchase Plan? A -- Yes! Conoco's Direct Stock Purchase and Dividend Reinvestment Plan, CONOCO CONNECTION, was made available to shareholders in November 1999. Q -- Will Conoco pay shareholders a dividend? A -- Conoco has no legal or contractual obligation to pay dividends. Conoco currently intends to pay a quarterly dividend of $0.19 per share on its common stock, subject to financial results and declaration by its board of directors. There can be no assurance that these dividends or any future dividends will be declared and paid. Q -- When will dividends that are declared be paid? A -- Conoco expects any future dividends on shares of Class A and Class B common stock would be scheduled to be paid on the 10th of March, June, September, and December to stockholders of record on the 10th of the preceding February, May, August and November. Dividend History. Q -- Is Conoco in the S&P 500? A -- Yes. Conoco was added to the S&P 500 on Friday, August 6, 1999. Aggie; I don't think it makes a big difference in a vs. b; I just like the 5 votes per share potential in any future buyout - takeout play... ? THINK BIG - MOVE FAST... is that not the best motto in the entire oilpatch, or what ?