8-KCorporate ChangesExhibits & Filings

TE Connectivity plc 8-K Report, Bylaw Amendment (Mar 9, 2010)

Filed March 9, 2010For Securities:TEL

Summary

TE Connectivity plc (formerly Tyco Electronics Ltd.) filed an 8-K on March 9, 2010, to report the effectiveness of its amended and restated Articles of Association. This amendment formalizes the second and final installment of a par value reduction approved by shareholders in October 2009. This reduction, totaling CHF 0.34 per share, is being distributed to shareholders in two equal parts. The first installment was paid in December 2009, and the second installment, amounting to US$0.16 per share, is scheduled for payment around March 17, 2010. The filing also confirms that the par value of each share has been reduced to CHF 2.09 following the amendment. This action is a return of capital to shareholders and does not represent a change in the company's operational performance or strategic direction, but rather a balance sheet adjustment and distribution.

Key Highlights

  • 1Effectiveness of amended and restated Articles of Association filed with the commercial register on March 9, 2010.
  • 2Formalizes the second installment of a par value reduction previously approved by shareholders.
  • 3Total par value reduction per share is CHF 0.34.
  • 4Second installment of distribution payable on or about March 17, 2010.
  • 5Second installment amount is US$0.16 per share.
  • 6Record date for the second installment distribution is March 9, 2010.
  • 7Post-amendment par value per share is now CHF 2.09.

Frequently Asked Questions

The main purpose of this 8-K filing is to report the effectiveness of TE Connectivity's amended and restated Articles of Association, which reflects the completion of a shareholder-approved par value reduction and distribution.

The second installment of the par value reduction, amounting to US$0.16 per share, is scheduled to be paid to shareholders of record as of March 9, 2010, on or about March 17, 2010.

The par value reduction reduces the nominal value of each share from its previous level to CHF 2.09. This is a balance sheet adjustment and a distribution of capital to shareholders, not a change in the number of outstanding shares or the company's fundamental operations.

This par value reduction is best understood as a return of capital to shareholders, facilitated by a reduction in the par value of the shares. It is not a dividend in the traditional sense, nor is it a stock split. It represents a distribution of excess capital.