HP Announces Number of Shares to be Issued to Its LYONs Holders Who Elect to Exercise Their Option
PALO ALTO, Calif., Oct. 12, 2000
Hewlett-Packard Company (NYSE: HWP) today
announced the number of shares to be issued to holders of its Liquid Yield Option
Notes (LYONs) who elect to exercise their option on Oct. 16, 2000.
Each LYON will be purchased, at the option of the holder, by the company for
a purchase price per LYON of $590.29. The company has previously informed note
holders that it has elected to pay the purchase price in shares of common stock.
In accordance with Section 3.08(e) of the Indenture governing the LYONs, the
number of shares of regular way common stock to be issued for each $1,000 principal
amount of securities is 6.69.
Hewlett-Packard Company -- a leading global provider of computing and imaging
solutions and services -- is focused on making technology and its benefits accessible
to individuals and businesses through simple appliances, useful e-services and
an Internet infrastructure that's always on.
HP has 86,000 employees worldwide and had total revenue from continuing operations
of $42.4 billion in its 1999 fiscal year. Information about HP and its products
can be found on the World Wide Web at http://www.hp.com/.
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