This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Ingersoll Rand Announces Record And Distribution Dates For Spin-Off Of Allegion

Stocks in this article: IR

Ingersoll-Rand plc (NYSE:IR) (the “Company” or “lngersoll Rand”) announced today that it has set the record and distribution dates for the spin-off of its commercial and residential security businesses, which will be effected through the distribution of 100% of the ordinary shares of Allegion plc (“Allegion”) to holders of Ingersoll Rand ordinary shares.

Allegion ordinary shares will be distributed on December 1, 2013, with Ingersoll Rand shareholders receiving one Allegion ordinary share for every three Ingersoll Rand ordinary shares held at the close of business on the record date of November 22, 2013. Fractional shares will not be distributed. Fractional shares will be sold in the open market at current prices. The net proceeds will be distributed ratably to Ingersoll Rand shareholders who were entitled to receive Allegion fractional shares. Ingersoll Rand shareholders entitled to receive the distribution will receive a book-entry account statement or a credit to their brokerage accounts reflecting their ownership of Allegion ordinary shares.

Following the distribution of Allegion ordinary shares on December 1, Allegion will be an independent, publicly traded company. Allegion has received approval for the listing of its ordinary shares on the New York Stock Exchange (the “NYSE”) under the symbol “ALLE.”

“Allegion’s brands pioneered industry-leading security products that have helped keep people around the world safe for more than a century,” said Dave Petratis, Allegion chairman and CEO.

“Today’s announcement signals an exciting new beginning for Allegion as a standalone company, focused on adding value for our customers, shareholders, company and employees, and positioning us for future growth.”

Prior to the distribution, Ingersoll Rand expects to mail an information statement or a notice of the availability of an information statement relating to Allegion to all shareholders entitled to receive the distribution of Allegion ordinary shares. The information statement will describe Allegion, including the risks of owning Allegion ordinary shares, and other details regarding the spin-off.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs