Baker Hughes Announces Odd-Lot Program
Baker Hughes Incorporated announced the commencement of a voluntary sale program (also known as an odd-lot program) for stockholders owning fewer than 100 shares of Baker Hughes common stock.
The shares will be sold on the open market by the program's administrator, Mellon Investor Services LLC.
Information about the odd-lot program, including how to participate, calculation of the sales price, and processing fees, is expected to be mailed directly to eligible stockholders of record as of September 3, 2004. The program is not conditioned on a receipt of a minimum number of tenders and is expected to expire on October 18, 2004, unless extended by the company. Baker Hughes is not recommending that any odd-lot holder sell his or her shares, and Baker Hughes encourages each odd-lot holder to make his or her own decision as to whether to participate in this voluntary program.
Source: Baker Hughes, a GE comany LLC