Alcoa Inc. (NYSE:AA) announced today that it has completed the
previously-announced reverse stock split of Alcoa Inc. common stock at a
ratio of 1 for 3 and a proportionate reduction in the number of
authorized shares of its common stock, from 1,800,000,000 shares to
600,000,000 shares.
The reverse stock split and authorized share reduction were approved by
Alcoa shareholders at a special shareholder meeting earlier today. The
applicable articles of amendment were filed in the Pennsylvania
Department of State on October 5, 2016.
Alcoa Inc. common stock will begin trading on a split-adjusted basis at
market open on October 6, 2016. Alcoa Inc. common stock will continue to
trade on the New York Stock Exchange under the symbol “AA,” although a
new CUSIP number (013817507) has been assigned to it as a result of the
reverse stock split.
No fractional shares have been issued in connection with the reverse
stock split. Shareholders otherwise entitled to receive fractional
share(s) as a result of the reverse stock split will receive cash
payments in lieu of such shares.
Additional information about the reverse stock split can be found in
Alcoa’s definitive proxy statement on Schedule 14A filed with the U.S.
Securities and Exchange Commission (the “SEC”), available free of charge
at the SEC’s website, www.sec.gov,
or at Alcoa’s website, www.alcoa.com.
Dissemination of Company Information
Alcoa intends to make future announcements regarding Company
developments and financial performance through its website at www.alcoa.com
About Alcoa
A global leader in lightweight metals technology, engineering and
manufacturing, Alcoa innovates multi-material solutions that advance our
world. Our technologies enhance transportation, from automotive and
commercial transport to air and space travel, and improve industrial and
consumer electronics products. We enable smart buildings, sustainable
food and beverage packaging, high-performance defense vehicles across
air, land and sea, deeper oil and gas drilling and more efficient power
generation. We pioneered the aluminum industry over 125 years ago, and
today, our approximately 57,000 people in 30 countries deliver value-add
products made of titanium, nickel and aluminum, and produce
best-in-class bauxite, alumina and primary aluminum products. For more
information, visit www.alcoa.com,
follow @Alcoa on Twitter at www.twitter.com/Alcoa
and follow us on Facebook at www.facebook.com/Alcoa.
Forward-Looking Statements
This communication 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,”
“intends,” “may,” “outlook,” “plans,” “projects,” “seeks,” “sees,”
“should,” “targets,” “will,” “would,” or other words of similar meaning.
All statements that reflect the Company’s expectations, assumptions or
projections about the future, other than statements of historical fact,
are forward-looking statements, including, without limitation,
statements regarding the separation transaction. 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 the Company 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. The Company disclaims any obligation to update
publicly any forward-looking statements, whether in response to new
information, future events or otherwise, except as required by
applicable law.
Alcoa Inc.
Investor Contact:
Matt Garth, 212-836-2674
Matthew.Garth@alcoa.com
or
Media Contact:
Shona Sabnis, 212-836-2626
Shona.Sabnis@alcoa.com