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Hathaway Corporation (HWYI) Further Clarifies OptiCon Spin-Off
Monday December 4, 2006
December 19th Is Set as the "Record Date" for Shareholders to Receive Dividend
Hathaway Corporation, a leading global provider of communications and telecommunications software, issues the following statement to further clarify to all current and future Hathaway shareholders regarding the spin-off of OptiCon Systems, Inc.
1- 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." All Hathaway shareholders will maintain their current share positions in Hathaway after the spin-off.
2- 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.
3- All Hathaway shareholders that own free tradable shares (purchased in the open market) will receive free tradable shares of OptiCon as dividend. All Hathaway shareholders that own restricted 144 shares will receive restricted 144 non-tradable shares of OptiCon as dividend.
4- If your Hathaway shares reside at your brokerage firm, your dividend shares of OptiCon will be automatically deposited into your brokerage account. If you have your Hathaway shares in certificate format, the dividend shares of OptiCon will be sent to the address of record with the transfer agent.
5- Investors who would like to participate in the OptiCon spin-off must purchase Hathaway (HWYI) stock in the open market no later that ex-date.
To learn more about OptiCon please visit the website at:
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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