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.
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Source:The NASDAQ OMX Group, Inc.