palmOne Presentation and Shareholder Vote
Palm has posted a corporate road show presentation titled "Defining Mobile Computing" that it is taking to institutional investors in anticipation of a stockholder meeting set for Oct. 28. The presentation relates to palmOne, Inc., the company that is expected to succeed Palm, Inc., pending a successful stockholder vote.
The presentation can be found here. It is a five minute video/webcast and requires windows media or realplayer. It comprises slides accompanied with narration from Todd Bradley, president and chief executive officer of Palm's Solutions Group; Ed Colligan, current president and chief operating officer of Handspring, Inc.; and Judy Bruner, senior vice president and chief financial officer, Palm, Inc.
Bradley is expected to become president and chief executive officer of palmOne. Colligan is expected to become a palmOne senior vice president and general manager of the Palm Wireless Business Unit. Bruner is expected to become the chief financial officer of palmOne. Other palmOne executives include:
- Ken Wirt, Palm senior vice president and general manager of the Palm Handheld Business Unit;
- Angel Mendez, senior vice president of Palm Global Operations; and
- Jeff Hawkins, current Handspring chairman and chief product officer, who is expected to become palmOne chief technology officer.
"We encourage all stockholders to view and listen to the presentation," said Bradley. "And we also encourage stockholders to vote."
Palm, Inc. stockholders will vote on a transaction that would result in the spin-off of PalmSource, Inc., the Palm subsidiary responsible for developing and licensing the world-leading Palm OS platform for handheld computers and smartphones, and the distribution of PalmSource common stock to Palm's stockholders.
The transaction also would result in the acquisition of Handspring, Inc., and the issuance of shares of Palm common stock -- immediately following the PalmSource distribution -- to Handspring stockholders. Following the spin-off of PalmSource and the acquisition of Handspring, Palm, Inc. will assume the new name, palmOne, Inc.
palmOne products will bear one of the company's three subbrands: Zire, aimed at consumers and multimedia enthusiasts; Tungsten, targeting mobile professionals and business; and Treo, the subbrand for smartphones, which are marketed to both individuals and businesses.
Palm stockholders of record as of Sept. 23 are eligible to vote on the transaction. Palm stockholders of record as of Oct. 28 are eligible to receive shares of stock of PalmSource. The Nasdaq ticker symbol for palmOne will be PLMO, beginning after Oct. 28.
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