Message #5 From:
NewsBot Date: November 6, 2006 05:31:00 AM
HWYI News Hathaway Corporation Sets Shareholder ``Record Date'' for the Spin-off of Its First Subsidiary, OptiCon Systems, Inc.
ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Hathaway Corporation (Pink Sheets:HWYI),
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.
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 and sold
by Corning. 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 BrightHouse. Through Companies such as OptiCon and DDI,
Hathaway brings the communication solutions of the future to today's
business marketplace. To request further information about Hathaway,
please email us at investors@hathawayglobal.com.
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.
