Distribution and Impact of Google Shares on The NASDAQ Stock Market and NASDAQ OMX Indexes
Additional information on the announcement can be found in Google's press release, the relevant part of which states:
Google Inc. announced today that its Board of Directors has approved a distribution of shares of the Class C capital stock as a dividend to our stockholders with a dividend record date of
As a result of this transaction, upon distribution the Google Class C shares will be added to all NASDAQ OMX Indexes that contain Google Class A shares, including, but not limited to, the NASDAQ-100 Index®, the NASDAQ Internet Index® and the NASDAQ OMX Global Index Family, effective prior to market open on the
Projected Trading Timeline
Record Date - Payment Date
Class C shares commence trading on
March 27as GOOCV on a when issued basis
Class A shares continue to trade as GOOG, with entitlement to Class C shares
Class A shares will also trade on an ex-distribution basis, without entitlement to the Class C shares, as GOOAV
The ticker for the Class A shares will change from GOOG to GOOGL
The ticker for the Class C shares will change from GOOCV to GOOG and commence regular way trading
The ticker for the Class A shares that traded on an ex-distribution basis - GOOAV - will be suspended
Projected Index Timeline
Prior to market open on
Thursday, April 3, 2014, Google Class C shares will be added to the pertinent NASDAQ OMXindexes. In addition, adjustments will be made to the previous closing price of the Google Class A shares, to reflect the pro rata distribution of the Class C shares.
During this time period, both Class C and Class A shares will represent Google in NASDAQ OMX Indexes that previously included the Class A shares as a constituent, including the NASDAQ-100 Index.
Prior to market open on
Monday, June 23, 2014, Google Class A shares will be removed from the NASDAQ OMX Indexes and Google Class C shares will become the sole security representing Google in NASDAQ OMX Indexes.
Cautionary Note Regarding Forward-Looking Statements
Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. NASDAQ OMX cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to, statements about our capital return initiatives. Forward-looking statements involve a number of risks, uncertainties or other factors beyond
The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular financial product or an overall investment strategy.
CONTACT: Contact Media Relations:
Joseph Christinat+1.646.441.5121 Joseph.Christinat@NASDAQOMX.Com
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
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