Current Report Filing (8-k)

Date : 06/18/2019 @ 1:15PM
Source : Edgar (US Regulatory)
Stock : Seagate Technology PLC (STX)
Quote : 55.48  0.5 (0.91%) @ 10:50PM
After Hours
Last Trade
Last $ 55.48 ◊ 0.00 (0.00%)

Current Report Filing (8-k)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 30, 2019

 

 

SEAGATE TECHNOLOGY PUBLIC LIMITED COMPANY

(Exact name of registrant as specified in its charter)

 

 

 

Ireland   001-31560   98-0648577

(State or other jurisdiction

of incorporation)

  (Commission File Number)  

(IRS Employer

Identification No.)

 

38/39 Fitzwilliam Square

Dublin 2, Ireland

  D02 NX53
(Address of principal executive office)   (Zip Code)

Registrant’s telephone number, including area code: (353) (1) 234-3136

N/A

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class

 

Trading Symbol

 

Name of Each Exchange on Which Registered

Ordinary Shares, par value $0.00001 per share   STX   The NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 


Item 8.01

Other Events.

Toshiba Memory Holdings Corporation Redemption

On June 17, 2019, Seagate Technology plc (the “Company”) received approximately $1.35 billion in cash from Toshiba Memory Holdings Corporation (“TMHC”) for the redemption of all of the outstanding shares of non-convertible preferred stock of TMHC held by the Company. The proceeds from the redemption include the original principal and accrued payment-in-kind income before taxes. The Company acquired the non-convertible preferred stock for approximately $1.27 billion on May 31, 2018 in the acquisition of Toshiba Memory Corporation, a subsidiary of TMHC, with a consortium of investors led by Bain Capital Private Equity. The Company’s investment in Toshiba Memory Corporation was subsequently transferred to TMHC.

The product supply agreement for NAND flash memory the Company entered into with Toshiba Memory Corporation remains in effect and is not impacted by the redemption of the non-convertible preferred stock.

Reduction of Capital and Creation of Distributable Reserves

As previously reported, on April 25, 2019, shareholders at the Company’s Extraordinary General Meeting of Shareholders approved the reduction of Company capital and creation of distributable reserves. The reduction of Company capital remained subject to confirmation by the Irish High Court. On May 30, 2019, the Irish High Court confirmed this reduction of Company capital and the court order was filed with the Companies Registration Office in Ireland.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

    SEAGATE TECHNOLOGY PUBLIC LIMITED COMPANY
Date: June 18, 2019     By:  

/s/ Gianluca Romano

    Name:   Gianluca Romano
    Title:   Executive Vice President and Chief Financial Officer

Seagate Technology (NASDAQ:STX)
Historical Stock Chart

1 Year : From Oct 2018 to Oct 2019

Click Here for more Seagate Technology Charts.

Seagate Technology (NASDAQ:STX)
Intraday Stock Chart

Today : Monday 21 October 2019

Click Here for more Seagate Technology Charts.

Latest STX Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.