Summary
This 8-K filing from Certegy Inc., dated July 7, 2001, announces a significant corporate event: the distribution of 69,668,466 shares of Certegy's common stock to Equifax Inc. shareholders. This distribution, effective July 7, 2001, marks Certegy's separation from Equifax, transforming it into an independent, publicly traded company. Previously trading on a 'when issued' basis, Certegy's shares commenced regular trading on the New York Stock Exchange under the ticker symbol 'CEY' on July 9, 2001. The filing also details the establishment of a Rights Agreement with SunTrust Bank, granting shareholders rights to purchase additional shares at a specified price. Various agreements governing the post-distribution relationship between Certegy and Equifax, covering tax, employee benefits, and other operational matters, have also been executed and filed. Investors should note that this event signifies a new era for Certegy as a standalone entity, with its financial performance and strategic direction now independent of Equifax.
Key Highlights
- 1Certegy Inc. is now an independent public company following a distribution of shares by its former sole shareholder, Equifax Inc.
- 2The distribution involved 69,668,466 shares of Certegy's common stock.
- 3Certegy's common stock began regular way trading on the New York Stock Exchange under the symbol 'CEY' on July 9, 2001.
- 4A Rights Agreement has been entered into, providing shareholders with rights to purchase additional common stock at $125 per share.
- 5The separation from Equifax was effective for accounting purposes as of June 30, 2001.
- 6Several agreements have been established to govern the ongoing relationship and allocation of assets/liabilities between Certegy and Equifax post-distribution.