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Journal Communications Inc Message Board

  • tuscontee tuscontee May 26, 2005 8:19 PM Flag

    stock conversion price

    Check the original prospectus on stock conversion/pricing
    In 2003, the employee-owners held units of beneficial interest in the Journal Employees� Stock Trust. The Grant family did not; they owned common stock. They also had certain rights under the Stock Trust Agreement that employee-owners of units did not.
    The proposal to employee-owners was to exchange each unit of beneficial interest for three shares of class B stock. As you recall, the proposal was approved overwhelmingly.
    The proposed agreement with the Grant family was disclosed and discussed as part of the company�s proposal to unitholders for the permanent capital transaction. The full text of that agreement with the Grant family shareholders was filed with the SEC. A two-page summary of the agreement was distributed with the proxy statement and prospectus dated July 23, 2003, which was the document provided in connection with the unitholders vote on the transaction.
    As noted this was no secret to anyone. Is it fair, who knows.

    Bob Dye

    VP - Employee Investor Relations

    Journal Communications

    P.O. Box 661

    Milwaukee, WI 53201-0661


    f the Journal Inc.

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13.120.00(0.00%)Mar 13 4:08 PMEDT