This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Comverse, Inc. Spin-Off And Share Distribution Expected On October 31, 2012

Beginning on October 18, 2012 and continuing up to and including the October 31, 2012 distribution date for the spin-off, CTI common shares will trade in two markets on NASDAQ: a "regular-way" market and an "ex-distribution" market. CTI common shares held as of October 18, 2012 and sold in the regular-way market after October 18, 2012 and on or before October 31, 2012 will not be entitled to receive the shares of CNS's common stock in connection with the share distribution. CTI common shares held as of October 22, 2012 and sold in the ex-distribution market after October 22, 2012 and on or before October 31, 2012 will still receive the shares of CNS's common stock in the share distribution.

The Form 10 registration statement includes information regarding the spin-off that will be mailed to CTI shareholders shortly. As a result of the SEC declaring the Form 10 effective, CNS is now subject to the information and reporting requirements of the Securities Exchange Act of 1934, and will file periodic reports, proxy statements and other required information with the SEC. CNS intends to post these materials to the Investor Relations portion of its website promptly after filing with the SEC.

No action is required by CTI shareholders as of the record date to receive their shares of the common stock of CNS in the spin-off. The distribution agent, transfer agent, and registrar for CNS common stock will be American Stock Transfer & Trust Company, LLC ("AST"). For questions relating to the transfer or mechanics of the stock distribution, shareholders may contact AST, 6201 15 th Avenue, 3rd Floor, Brooklyn, NY, 11219 or via phone at 651-379-9102.

The Comverse Technology logo is available at

Cautions concerning forward-looking statements

This news release contains forward-looking statements addressing the planned spin-off of CNS from CTI as a separate company, which is dependent upon future events or developments. These matters are subject to risks and uncertainties that could cause actual events (including the planned spin-off) and results to differ materially from those projected, anticipated or implied. These risks and uncertainties include uncertainties regarding the planned spin-off of CNS, including the timing and terms of such spin-off and whether such spin-off will be completed as it is subject to a number of conditions. In addition, CTI and CNS are subject to additional risks and uncertainties described in CNS's Form 10, as amended, and CTI's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports) and exhibits to those filings and reports. Except to the extent required by applicable law, CTI and CNS undertake no obligation to update or revise any forward-looking statement.
CONTACT: Paul D. Baker, Comverse, Inc., , (212) 739-1060

Comverse Logo

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 -1.15%
FB $117.58 0.73%
GOOG $693.01 0.29%
TSLA $240.76 -2.81%
YHOO $36.60 0.03%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs