Corning: odd-lot program for small shareholders

Fiber optic and LCD glass leader Corning Inc. said 27 October 2004 that it has set up a voluntary odd-lot program, allowing eligible small stockholders to sell or increase their holdings.
Under the s…

Fiber optic and LCD glass leader Corning Inc. said 27 October 2004 that it has set up a voluntary odd-lot program, allowing eligible small stockholders to sell or increase their holdings. Under the scheme, shareholders owning fewer than 100 shares of Corning“s common stock may either sell all of their shares, or buy more to increase their holdings to 100 shares, the company said in a filing to the Securities and Exchange Commission. The company said the program would run from 29 October 2004 through 29 November 2004. Shareholders will receive or pay a uniform, market-based price per share, which Corning said it could not determine in advance. Informational letters were scheduled to go to eligible shareholders 29 October 2004, but Corning said it was not making any recommendations as to whether shareholders should participate in the program.