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Curtiss-Wright Completes Recapitalization
ROSELAND, N.J., May 25 /PRNewswire-FirstCall/ -- Curtiss-Wright Corporation
(NYSE: CW; CW.B) announced today that it has completed the recapitalization of
its common stock and Class B stock into a single class of common stock. The
Company's stockholders approved the recapitalization at the annual meeting on
May 19, 2005. Each share of common stock now has one vote in corporate
governance matters. The single class of common stock began trading under the
symbol CW today on the New York Stock Exchange ("NYSE"). Holders of Class B
common stock will receive written instructions on how to exchange their Class B
common stock certificates for certificates representing an equal number of
shares of common stock. Current holders of Common stock will not need to take
any action as a result of the transaction.
"We are pleased to have completed the recapitalization," commented Martin R.
Benante, Chairman and CEO of Curtiss-Wright Corporation. "We believe a single
class of stock will benefit all of our stockholders by providing increased
trading liquidity and a simplified capital structure."
About Curtiss-Wright
Curtiss-Wright Corporation is a diversified company headquartered in Roseland,
New Jersey. The Company designs, manufactures and overhauls products for
motion control and flow control applications, and provides a variety of metal
treatment services. The firm employs approximately 5,800 people worldwide.
More information on Curtiss-Wright can be found on the Internet at
http://www.curtisswright.com/.
Forward-looking statements in this release are made pursuant to the Safe Harbor
provisions of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those expressed or
implied. Readers are cautioned not to place undue reliance on these forward-
looking statements, which speak only as of the date hereof. Such risks and
uncertainties include, but are not limited to: risks associated with
implementing the consolidation; and risks associated with the company's
inability to predict the effect of the consolidation of its dual class
structure on the price of the new common stock to be issued.
DATASOURCE: Curtiss-Wright Corporation
CONTACT: Glenn E. Tynan of Curtiss-Wright Corporation, +1-973-597-4710
Web site: http://www.curtisswright.com/