Liberty Interactive Receives Stockholder Approval for Creation of Liberty Ventures Tracking Stock; Announces Dividend to Stockholders
ENGLEWOOD, Colo.--(BUSINESS WIRE)--
Liberty Interactive Corporation ("Liberty Interactive") (Nasdaq: LINTA,
LINTB) announced that, at the annual meeting of its stockholders held on
August 8, 2012 at 10:00 a.m. MT, it received approval from its
stockholders to amend and restate its certificate of incorporation in
order to create the new Liberty Ventures common stock and make certain
related changes to the existing Liberty Interactive common stock.
Accordingly, on Thursday, August 9, 2012, Liberty Interactive intends to
distribute (the "distribution"), by means of a dividend, to holders of
its Series A and Series B Liberty Interactive common stock as of 5:00
p.m., New York City time, on Thursday, August 9, 2012 (the "record
date"), (i) 0.05 of a share of the corresponding series of Liberty
Ventures common stock for each share of that series of Liberty
Interactive common stock held by such stockholder as of the record date
and (ii) 1/3 of a subscription right to purchase one share of Series A
Liberty Ventures common stock (a "Series A Right") for each share of
Series A or Series B Liberty Ventures common stock, as applicable,
received by such stockholder in the distribution. Cash will be issued in
lieu of fractional shares of Liberty Ventures common stock and
fractional Series A Rights will be rounded up to the nearest whole
right. Although holders of Series A and Series B Liberty Interactive
common stock will receive Series A Rights in the distribution, the
Series A Rights will not be tradeable until after the per share
subscription price is determined and announced.
The creation of the Liberty Ventures common stock, the distribution and
the rights offering to follow are subject to the satisfaction of the
remaining conditions to these transactions, which are described in
detail in the proxy statement/prospectus forming a part of the
Registration Statement on Form S-4 filed by Liberty Interactive
regarding these transactions (the "Form S-4"). Information regarding the
rights offering can also be found in the Form S-4.
About Liberty Interactive Corporation
Liberty Interactive (Nasdaq: LINTA, LINTB) owns interests in a broad
range of digital commerce businesses including QVC, Provide Commerce,
Backcountry.com, Celebrate Interactive, Bodybuilding.com, Evite, and
Expedia.
Liberty Interactive Corporation
Courtnee Ulrich, 720-875-5420
Source: Liberty Interactive Corporation
News Provided by Acquire Media
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