Arconic Shareholders Approve Delaware Reincorporation
November 30 2017 - 4:05PM
Business Wire
Arconic Inc. (NYSE: ARNC) (the “Company”) announced today that
shareholders have approved, at a special meeting held earlier
today, the Company’s reincorporation from Pennsylvania to
Delaware.
In order to effect the reincorporation, Arconic shareholders
approved the merger of the Company with a newly formed subsidiary,
incorporated in Delaware, which will be the surviving corporation
and retain the Arconic Inc. name following the reincorporation.
Shareholders also approved, on an advisory basis, the annual
election of the full Arconic Board of Directors following the
reincorporation and that the Company’s post-reincorporation
certificate of incorporation will not contain any supermajority
voting requirements.
Arconic currently expects the reincorporation merger to be
effective on or about December 31, 2017.
Additional information about the reincorporation can be found in
Arconic’s definitive proxy statement, filed with the U.S.
Securities and Exchange Commission (SEC) on October 16, 2017,
available free of charge at the SEC’s website, www.sec.gov, or at
www.arconic.com.
About Arconic
Arconic (NYSE: ARNC) creates breakthrough products that shape
industries. Working in close partnership with our customers, we
solve complex engineering challenges to transform the way we fly,
drive, build and power. Through the ingenuity of our people and
cutting-edge advanced manufacturing techniques, we deliver these
products at a quality and efficiency that ensure customer success
and shareholder value. For more information: www.arconic.com. Follow @arconic: Twitter, Instagram,
Facebook, LinkedIn and YouTube.
Dissemination of Company Information
Arconic intends to make future announcements regarding Company
developments and financial performance through its website
on www.arconic.com
Forward-Looking Statements
This release contains statements that relate to future events
and expectations and as such constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements include those containing such
words as "anticipates," "believes," "could," "estimates,"
"expects," "forecasts," "goal," "guidance," "intends," "may,"
"outlook," "plans," "projects," "seeks," "sees," "should,"
"targets," "will," "would," or other words of similar meaning. All
statements that reflect Arconic’s expectations, assumptions or
projections about the future, other than statements of historical
fact, are forward-looking statements, including, without
limitation, forecasts and expectations relating to the aerospace,
automotive, commercial transportation and other end markets;
statements and guidance regarding future financial results or
operating performance; and statements about Arconic's strategies,
outlook, business and financial prospects. These statements reflect
beliefs and assumptions that are based on Arconic’s perception of
historical trends, current conditions and expected future
developments, as well as other factors management believes are
appropriate in the circumstances. Forward-looking statements are
not guarantees of future performance and are subject to risks,
uncertainties, and changes in circumstances that are difficult to
predict. Although Arconic believes that the expectations reflected
in any forward-looking statements are based on reasonable
assumptions, it can give no assurance that these expectations will
be attained and it is possible that actual results may differ
materially from those indicated by these forward-looking statements
due to a variety of risks and uncertainties. Such risks and
uncertainties include, but are not limited to: (a) deterioration in
global economic and financial market conditions generally; (b)
unfavorable changes in the markets served by Arconic; (c) the
inability to achieve the level of revenue growth, cash generation,
cost savings, improvement in profitability and margins, fiscal
discipline, or strengthening of competitiveness and operations
anticipated or targeted; (d) changes in discount rates or
investment returns on pension assets; (e) Arconic’s inability to
realize expected benefits, in each case as planned and by targeted
completion dates, from acquisitions, divestitures, facility
closures, curtailments, expansions, or joint ventures; (f) the
impact of cyber attacks and potential information technology or
data security breaches; (g) any manufacturing difficulties or other
issues that impact product performance, quality or safety; (h)
political, economic, and regulatory risks in the countries in which
Arconic operates or sells products; (i) material adverse changes in
aluminum industry conditions, including fluctuations in London
Metal Exchange-based aluminum prices; (j) the impact of changes in
foreign currency exchange rates on costs and results; (k) the
outcome of contingencies, including legal proceedings, government
or regulatory investigations, and environmental remediation, which
can expose Arconic to substantial costs and liabilities; and (l)
the other risk factors summarized in Arconic’s Form 10-K for the
year ended December 31, 2016, Arconic’s Forms 10-Q for the quarter
ended June 30, 2017 and other reports filed with the Securities and
Exchange Commission. Arconic disclaims any intention or obligation
to update publicly any forward-looking statements, whether in
response to new information, future events, or otherwise, except as
required by applicable law. Market projections are subject to the
risks discussed above and other risks in the market.
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version on businesswire.com: http://www.businesswire.com/news/home/20171130005966/en/
ArconicInvestor Contact:Patricia Figueroa,
212-836-2758Patricia.Figueroa@arconic.comorMedia Contact:Christa
Zipf, 212-836-2605Christa.Zipf@arconic.com
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