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Hathaway Corporation Sets Shareholder "Record Date'' for the Spin-off of Its First Subsidiary, OptiCon Systems, Inc.
Monday November 6, 2006
December 19, 2006 is Date for Hathaway Shareholders to Be Eligible for Spin-off Shares
Hathaway Corporation, a leading global provider of communications and telecommunications software and services, today announced that the Company has established Dec.19th, 2006 as the "record date" for determining the record holders of Company common stock for purposes of receiving the "spin-off" distribution shares to all of the Company's shareholders.
All Hathaway shareholders of record at the close of business on December 19, 2006 will be eligible to receive one share of OptiCon Systems, Inc. common stock for every two shares of Hathaway common stock owned as of the "record date" on the "distribution date."
The "distribution date" of the spin-off dividend or shares of OptiCon will be announced when our registration statement with SEC is active and when NASD provides the trading authorization and a trading symbol. We expect the approximate "distribution date" to be in the beginning of the second quarter of 2007.
Hathaway Corporation initially announced the intent to Spin-Off OptiCon Systems, Inc. on May 3rd, 2006.
A complete summary of the spin-off can be found at .
About Hathaway Corporation
Hathaway Corporation develops and acquires undervalued companies that bring a shift in how communications are delivered and serviced globally. Hathaway continues to seek out and capitalize on emerging technologies. Their first acquisition, OptiCon Systems, was first developed by Corning and sold to their customers. Corning spent millions of dollars and over seven years developing the Fiber Optic Management System currently marketed and sold by OptiCon Systems Inc. OptiCon serves over 70% of the global 500 companies such as Adelphia, Charter, Comcast, Comcast/AT&T, Cox, Time Warner, and Bright House. Through companies like OptiCon and DDI, Hathaway brings the communication solutions of the future to today's business marketplace.
Safe Harbor
This release includes forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 27E of the
Securities Act of 1934. Statements contained in this release that
are not historical facts may be deemed to be forward-looking statements.
Investors are cautioned that forward-looking statements are inherently
uncertain. Actual performance and results may differ materially from
that projected or suggested herein due to certain risks and uncertainties
including, without limitation, ability to obtain financing and regulatory
and shareholder approval for anticipated actions.
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