Warum macht das eine Firma ?
Wenn sie mehr Wert ist, als der Börsenkapitalisierung und wenn man Angst hat vor feindlichen Übernahmen !
Harris & Harris Group Declares Deemed Dividend
NEW YORK--(BUSINESS WIRE)--Dec. 14, 2000--Harris & Harris Group, Inc. announced today that its Board of Directors, in accordance with rules governing a Regulated Investment Company (``RIC'') under Sub-Chapter M of the Internal Revenue Code, has declared a designated undistributed capital gain dividend (also known as a deemed dividend) for 2000. The Company intends to elect treatment as a RIC for 2000. There can be no assurance that the Company will qualify as a RIC for 2000.
This deemed dividend will be an amount equal to 100 percent of its 2000 net capital gain, minus $479,569. It is payable to shareholders of record as of December 29, 2000. The exact amount of the deemed dividend will not be known until the Company completes its year-end audit. Shareholders of record on the record date will be provided with the exact amount of the per share deemed dividend no later than March 1, 2001. At the present time, the unaudited amount of the 2000 net capital gain (minus $479,569) is approximately $15,827,822, or $1.73 per share. The full-year net capital gain and thus the deemed dividend will change to reflect full-year audited results.
The following simplified example illustrates the tax treatment under Sub-Chapter M of the Internal Revenue Code for the Company and its individual shareholders with regard to a theoretical $9,175,431 or $1.00 per share net long-term capital gain retained by the Company and designated as an undistributed capital gain or deemed dividend:
1. The Company would pay a corporate-level federal income tax of 35
percent or $3,211,401 on the undistributed capital gain, or $0.35
per share. 2. Individual shareholders who are taxable at the highest marginal
rate would increase their cost basis in their stock by $0.65 per
share. They would pay a 20 percent federal capital gains tax on
100 percent of the undistributed capital gain of $1.00 per share
or $0.20 per share in tax. Offsetting this tax, shareholders would
receive a tax credit from the Company equal to 35 percent of the
undistributed capital gain, or $0.35 per share.
For more complete information about the Company's tax status and the implications for the Company's shareholders, please see the Company's 1999 Annual Report on Form 10-K.
Harris & Harris Group is a Business Development Company with 9,175,431 common shares outstanding.
Detailed information about Harris & Harris Group and its holdings can be found on its website at www.hhgp.com
Wenn sie mehr Wert ist, als der Börsenkapitalisierung und wenn man Angst hat vor feindlichen Übernahmen !
Harris & Harris Group Declares Deemed Dividend
NEW YORK--(BUSINESS WIRE)--Dec. 14, 2000--Harris & Harris Group, Inc. announced today that its Board of Directors, in accordance with rules governing a Regulated Investment Company (``RIC'') under Sub-Chapter M of the Internal Revenue Code, has declared a designated undistributed capital gain dividend (also known as a deemed dividend) for 2000. The Company intends to elect treatment as a RIC for 2000. There can be no assurance that the Company will qualify as a RIC for 2000.
This deemed dividend will be an amount equal to 100 percent of its 2000 net capital gain, minus $479,569. It is payable to shareholders of record as of December 29, 2000. The exact amount of the deemed dividend will not be known until the Company completes its year-end audit. Shareholders of record on the record date will be provided with the exact amount of the per share deemed dividend no later than March 1, 2001. At the present time, the unaudited amount of the 2000 net capital gain (minus $479,569) is approximately $15,827,822, or $1.73 per share. The full-year net capital gain and thus the deemed dividend will change to reflect full-year audited results.
The following simplified example illustrates the tax treatment under Sub-Chapter M of the Internal Revenue Code for the Company and its individual shareholders with regard to a theoretical $9,175,431 or $1.00 per share net long-term capital gain retained by the Company and designated as an undistributed capital gain or deemed dividend:
1. The Company would pay a corporate-level federal income tax of 35
percent or $3,211,401 on the undistributed capital gain, or $0.35
per share. 2. Individual shareholders who are taxable at the highest marginal
rate would increase their cost basis in their stock by $0.65 per
share. They would pay a 20 percent federal capital gains tax on
100 percent of the undistributed capital gain of $1.00 per share
or $0.20 per share in tax. Offsetting this tax, shareholders would
receive a tax credit from the Company equal to 35 percent of the
undistributed capital gain, or $0.35 per share.
For more complete information about the Company's tax status and the implications for the Company's shareholders, please see the Company's 1999 Annual Report on Form 10-K.
Harris & Harris Group is a Business Development Company with 9,175,431 common shares outstanding.
Detailed information about Harris & Harris Group and its holdings can be found on its website at www.hhgp.com
