DGAP-News: The NASDAQ OMX Group, Inc. /
Distribution and Impact of Google Shares on The NASDAQ Stock Market
and NASDAQ OMX Indexes
10.02.2014 / 14:00
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NEW YORK, 2014-02-10 14:00 CET (GLOBE NEWSWIRE) --
On January 30th Google, Inc. (Nasdaq:GOOG) announced that its Board of
Directors approved the distribution of Class C shares to its stockholders.
NASDAQ OMX is providing the information below to clarify the effect of this
distribution on Google Class A shares.
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 March 27, 2014 and a dividend
payment date of April 2, 2014.
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(r), the NASDAQ Internet
Index(r) and the NASDAQ OMX Global Index Family, effective prior to market open
on the April 3, 2014, the ex-date of the distribution. Both classes of shares
will remain temporarily in the Indexes until the next quarterly rebalancing,
when the Class A shares will be removed from the Indexes. This action is being
taken in order to provide for a seamless distribution of the new securities and
ensure Index continuity.
Projected Trading Timeline
March 27 - April 2
Record Date - Payment Date
Class C shares commence trading on March 27 as 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
April 3
EX Date
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
April 3
Ex Date
Prior to market open on Thursday, April 3, 2014, Google Class C shares will be
added to the pertinent NASDAQ OMX indexes. 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.
April 3 - June 20
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.
June 23
Quarterly Rebalancing
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 NASDAQ OMX's control. These factors include, but are not limited
to, NASDAQ OMX's ability to implement its strategic initiatives, economic,
political and market conditions and fluctuations, government and industry
regulation, interest rate risk, U.S. and global competition, and other factors
detailed in NASDAQ OMX's filings with the U.S. Securities and Exchange
Commission, including its annual reports on Form 10-K and quarterly reports on
Form 10-Q which are available on NASDAQ OMX's website at
http://www.nasdaqomx.com and the SEC's website at www.sec.gov. NASDAQ OMX
undertakes no obligation to publicly update any forward-looking statement,
whether as a result of new information, future events or otherwise.
About NASDAQ OMX Group
NASDAQ OMX (Nasdaq:NDAQ) is a leading provider of trading, exchange technology,
information and public company services across six continents. Through its
diverse portfolio of solutions, NASDAQ OMX enables customers to plan, optimize
and execute their business vision with confidence, using proven technologies
that provide transparency and insight for navigating today's global capital
markets. As the creator of the world's first electronic stock market, its
technology powers more than 80 marketplaces in 50 countries, and approximately
1 in 10 of the world's securities transactions. NASDAQ OMX is home to more than
3,300 listed companies with a market value of over $7 trillion and more than
10,000 corporate clients. To learn more, visit www.nasdaqomx.com.
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. NASDAQ OMX makes no recommendation to buy or sell any
financial product nor any representation about the financial condition of any
company or fund. Statements regarding NASDAQ's proprietary indexes are not
guarantees of future performance. Actual results may differ materially from
those expressed or implied. Past performance is not indicative of future
results. Investors should undertake their own due diligence and carefully
evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS
STRONGLY ADVISED.
NDAQG
CONTACT: Contact Media Relations:
Joseph Christinat +1.646.441.5121
Joseph.Christinat@NASDAQOMX.Com
News Source: NASDAQ OMX
End of Corporate News
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Language: English
Company: The NASDAQ OMX Group, Inc.
United States
ISIN: US6311031081
End of News DGAP News-Service
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251871 10.02.2014
DGAP-News: Distribution and Impact of Google Shares on The NASDAQ Stock Market and NASDAQ OMX Indexes
| Source: EQS Group AG