Open Text Corporation (NASDAQ:OTEX) Files An 8-K Other Events
Item 8.01 of the Original 8-K to the extent that the Share Split
has been effected by way of a share sub-division and to include a
reference to Item 5.03.
updated and the information disclosed therein remains in effect
as of the filing date of the Original 8-K. This Amendment No. 1
does not purport to provide an update or a discussion of any
developments at OpenText subsequent to the filing date of the
Amendments to Articles of Incorporation or Bylaws; Change
in Fiscal Year
incorporated by reference into this Item 5.03. As previously
reported in a Current Report on Form 8-K filed with the SEC on
September 23, 2016, shareholders of OpenText approved the
adoption of a special resolution authorizing the amendment to
OpenTexts articles to change the number of Common Shares, whether
issued or unissued, on a 2-for-1 basis, such that each Common
Share will become two Common Shares. The amendment was effected
on December 22, 2016 in connection with the Share Split.
directors had approved a 2-for-1 share split of the outstanding
common shares of OpenText, to be implemented by way of a share
sub-division, whereby shareholders of record at close of business
on Monday, January 9, 2017 (the Record Date) would receive on
Tuesday, January 24, 2017 (the Payment Date) one Common Share for
each Common Share held as of the Record Date.
implement due bill trading in connection with the Share Split. A
due bill is an entitlement attached to listed securities
undergoing a material corporation action, such as the Share
Split. In this instance, anyone purchasing a Common Share during
the period commencing at the opening of business two trading days
prior to the Record Date (i.e., Thursday, January 5, 2017) and
ending on the Payment Date (i.e., Tuesday, January 24, 2017),
inclusive (the due bill period), will receive a distributable
right. Any trades that are executed during the due bill period
will be flagged to ensure purchasers receive the entitlement to
the additional Common Share distributable as a result of the
Share Split. The Common Shares will commence trading on an
ex-distribution basis on Wednesday, January 25, 2017. The due
bill redemption date will be Friday, January 27, 2017.
Shares outstanding, and in the Companys upcoming 10-Q filing for
the quarter ending December 31, 2016, all current period and
historical per share data and number of Common Shares will be
presented on a post-Share Split basis.
About Open Text Corporation (NASDAQ:OTEX)
Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics. Its software and services allow organizations to manage the information that flows into, out of, and throughout the enterprise as part of daily operations. Its solutions incorporate collaborative and mobile technologies and are delivered for on-premises deployment, as well as through cloud, hybrid and managed hosted services models. In addition, the Company provides solutions that facilitate the exchange of information and transactions that occur between supply chain participants. Open Text Corporation (NASDAQ:OTEX) Recent Trading Information
Open Text Corporation (NASDAQ:OTEX) closed its last trading session up +1.17 at 34.19 with 639,754 shares trading hands.