NEW YORK, Feb. 20, 2014 (GLOBE NEWSWIRE) -- Vodafone Group Plc (Nasdaq:VOD) announced a pro rata distribution to shareholders of record on February 20, 2014, of Verizon Communications Inc. (VZ) common stock and cash, which will occur after close of business on February 21, 2014, followed immediately by a reverse stock split of VOD.
The ratio of VZ share distributions has since been announced as 0.263001 share of VZ common stock for each ADR of VOD held on the Record Date. In addition, the ratio of the VOD share consolidation (reverse split) has been announced as six for eleven (6:11). The final amount of the cash portion of the return of value will be announced on Friday, February 21, 2014.
NASDAQ OMX has determined that the entire transaction will be effective in the index prior to market open on Monday, February 24, 2014. Accordingly, VOD will be adjusted to reflect the market value post VZ share distribution, cash and post reverse split prior to market open on Monday, February 24, 2014.
All distribution ratios of common stock, cash (when available) and reverse stock split, will be published under separate Global Index Watch notification, once they have been officially announced by the Exchange.
This press release supersedes the February 17, 2014 announcement.
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 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. NASDAQ OMX is home to more than 3,200 listed companies with a market value of over $8 trillion. 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.
CONTACT: Media Relations:
Joseph Christinat +1.646.441.5121
Source: The NASDAQ OMX Group, Inc.