CHICAGO, Jan. 24, 2012 /PRNewswire/ -- Telephone and
Data Systems, Inc. [NYSE: TDS, TDS.S] today announced that it has
filed a Restated Certificate of Incorporation that has effected the
Share Consolidation and certain other proposals that were approved
by shareholders on January 13,
2012.
The Restated Certificate of Incorporation will become effective
at 5:01 p.m. Eastern time on
January 24, 2012. Upon the
effectiveness of the Restated Certificate of Incorporation, each
issued Special Common Share will be reclassified as one new Common
Share, each issued Common Share will be reclassified as 1.087
Common Shares, and each issued Series A Common Share will be
reclassified as 1.087 Series A Common Shares.
Beginning with the opening of trading on January 25, 2012, the Special Common Shares will
cease to be outstanding and cease to trade, and the new and
additional Common Shares issued in the reclassification will
thereafter trade with the existing Common Shares on the New York
Stock Exchange under the symbol "TDS". The CUSIP number for
the Common Shares will change to 879433 829.
Certificates representing Special Common Shares prior to the
reclassification will represent an equal number of Common Shares
after the reclassification, making it unnecessary to exchange
existing stock certificates for new certificates.
Certificates representing Common Shares prior to the
reclassification will represent an equal number of Common Shares
after the reclassification, and holders of such certificates will
receive the additional 0.087 Common Shares in book entry form and
cash in lieu of any fractional shares, making it unnecessary to
exchange existing stock certificates for new certificates.
Certificates representing Series A Common Shares prior to the
reclassification will represent an equal number of Series A Common
Shares after the reclassification, and holders of such certificates
will receive the additional 0.087 Series A Common Shares in
certificate form and cash in lieu of any fractional shares, making
it unnecessary to exchange existing stock certificates for new
certificates.
About TDS
Telephone and Data Systems, Inc. (TDS), a Fortune 500®
company, provides wireless, local and long-distance telephone and
broadband services to approximately 7 million customers in 36
states through its business units, U.S. Cellular (wireless) and TDS
Telecom (wireline). Founded in 1969 and headquartered in
Chicago, TDS employed 12,300
people as of September 30, 2011.
Visit www.teldta.com for comprehensive financial information,
including earnings releases, quarterly and annual filings,
shareholder information and more.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995: All information set forth in this news
release, except historical and factual information, represents
forward-looking statements. This includes all statements about the
company's plans, beliefs, estimates and expectations. These
statements are based on current estimates, projections and
assumptions, which involve certain risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements. Important factors that may affect these
forward-looking statements include, but are not limited to: the
ability of the company to successfully grow its markets; the
overall economy; competition; the access to and pricing of
unbundled network elements; the ability to obtain or maintain
roaming arrangements with other carriers; the state and federal
telecommunications regulatory environment; the value of assets and
investments; adverse changes in the ratings afforded TDS and U.S.
Cellular debt securities by accredited ratings organizations;
industry consolidation; advances in telecommunications technology;
uncertainty of access to the capital markets; pending and future
litigation; changes in income tax rates, laws, regulations or
rulings; acquisitions/divestitures of properties and/or licenses;
and changes in customer growth rates, average monthly revenue per
unit, churn rates, roaming revenue and terms, the availability of
handset devices, or the mix of products and services offered by
U.S. Cellular and TDS Telecom. Investors are encouraged to consider
these and other risks and uncertainties that are discussed in the
Form 8-K used by TDS to furnish this press release to the SEC,
which are incorporated by reference herein.
For more information about TDS and its subsidiaries, visit our
web sites at:
TDS:
www.teldta.com
TDS Telecom: www.tdstelecom.com
USM:
www.uscellular.com
SOURCE Telephone and Data Systems, Inc.