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Investment in Stocks - Forum for sharing info about stocks and options.
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Posted by johnnyfive on November 2, 2006, 12:12 pm
http://www.hathawayglobal.com/opticonspinoff.asp
To request further information about Hathaway, please email us at
investors@hathawayglobal.com.
OptiCon Spin-Off Frequently Asked Questions
In order to further educate our investors regarding the Opticon
Spin-Off, we've put together some simple FAQ's to help further
illustrate how this benefits Hathaway's Shareholders.
Previous spin off information:
Spinoff announcement
Spinoff clarification
Audit status
What is a Spin-Off?
Hathaway Global looks for companies to assist in further development
and to bring value to our shareholders. Once management feels the
company has the potential to become a publicly traded company on their
own, then Hathaway will spin them off the parent corporation and they
will be separated from Hathaway.
What is my stake in OptiCon once the spin-off is effectuated and when
would be the record date?
All Hathaway shareholders will receive 1 (one) share of OptiCon for
every 2 (two) shares owned in Hathaway. For example: you own 5,000
shares of Hathaway as of the record date of the spin-off. You would
then receive 2,500 shares of OptiCon. You will still hold the 5,000
shares of Hathaway in addition to the 2,500 shares of OptiCon. The
record date would be announced shortly after we have filed with SEC.
Can I buy more shares in Hathaway to gain more shares of OptiCon?
Absolutely! The more shares you own in Hathaway, the greater amount you
will own in OptiCon once the spin-off takes place.
If I buy shares in Hathaway after the date of record, will I receive
shares in OptiCon?
No! Once the effective date is announced, ONLY shareholders of record
will be entitled to OptiCon shares.
What will the trading symbol of OptiCon be?
This will be determined by the NASD upon approval of the forms
submitted. Unfortunately, we have no control over what symbol they will
issue.
How will I receive my shares once the spin-off is completed?
Hathaway Common stockholder will automatically be mailed a statement of
ownership by the OptiCon's transfer agent, Island Stock Transfer.
This statement will represent your ownership in Hathaway Corporation
- one OptiCon share for 2 shares of Hathaway Common stock you own on
the record date. Typically the shares will be issued through the
transfer agent directly into your brokerage account. If you currently
have your Hathaway shares in certificate form and have not registered
them, then you will be mailed a stock certificate to the address of
record by the transfer agent.
What is a Statement of Ownership?
OptiCon stockholders' security positions will be held in a book-entry
form in a Direct Registration account maintained by OptiCon's
transfer agent, Island Stock Transfer. Therefore, instead of issuing a
stock certificate for your shares, the transfer agent will mail you a
statement detailing your shareholdings in OptiCon. If you maintain your
shares with your broker, OptiCon shares will appear on the statement
that you receive from your broker.
What market will Opticon be trading on?
To date, our goal is to have OptiCon either on the OTCBB or AMEX. As
OptiCon will be a fully-reporting company, the OTCBB will be the market
of choice at this time. If the company has the opportunity to be placed
on the AMEX based on their criteria, then naturally management will opt
for this market.
What price will OptiCon open at once it begins trading?
The price will be established based on many factors. Unfortunately this
information is not available to us at this time. But we are hoping,
based on an independent valuation of $84M for OptiCon, the IPO shares
would be priced at $2-$4 per share.
What will the value of Hathaway be? What will the value of OptiCon be?
The true value of Hathaway after the spin-off and the true value of
OptiCon after the spin-off will be determined by the marketplace.
After the spin-off, whom do I contact with questions about Hathaway and
OptiCon?
ACCO Brands?
Hathaway Corporation/Investor Relation Office
OptiCon's Transfer Agent
475 Central Ave., B100
St. Petersburg, FL 33701
Island Stock Transfer
Telephone:
727-289-0010
Fax:
727-289-0069
Postal Address:
100 Second Avenue South, 300N
St. Petersburg, Florida 33701
817-812-2105
info@islandstocktransfer.com
Email: info@hathawayglobal.com
Is there any tax on the receipt of the OptiCon shares?
For U.S. shareholders, there will be no tax on the receipt of OptiCon
Common stock. Shareholders resident in certain other jurisdictions
should consult their tax advisor.
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