Summary
TE Connectivity plc (TEL), previously Tyco Electronics Ltd., announced a significant corporate rebranding. At its Annual General Meeting on March 9, 2011, shareholders approved amendments to the company's Articles of Association, officially changing the company's name to TE Connectivity Ltd. This change is effective as of March 10, 2011, upon registration with the Swiss commercial register. In addition to the name change, shareholders reapproved the Board of Director's authority to issue shares from the company's authorized capital for a further two-year period, extending this authority until March 9, 2013. This reaffirms the Board's flexibility in managing the company's capital structure. The company's stock will continue to trade on the New York Stock Exchange under the existing ticker symbol "TEL," and a new CUSIP number will be effective for its registered shares starting March 17, 2011.
Key Highlights
- 1Company name officially changed from Tyco Electronics Ltd. to TE Connectivity Ltd.
- 2Name change effective March 10, 2011, upon registration in Switzerland.
- 3Shareholders reapproved the Board's authority to issue shares from authorized capital.
- 4The Board's authority to issue shares is extended for two years, until March 9, 2013.
- 5The company's stock will continue trading on the NYSE under the ticker symbol "TEL."
- 6A new CUSIP number (H84989104) will be effective for registered shares starting March 17, 2011.