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Avaya Completes Contribution to Pension Plan

07-09-2004

Avaya completed a voluntary contribution of approximately $111 million of its common stock to its pension plan.

Avaya Inc., (NYSE:AV) a leading global provider of communications networks and services for businesses, today said that it completed a voluntary contribution of approximately $111 million of its common stock to its pension plan. Earlier today the Securities and Exchange Commission declared effective the Form S-3 registration statement filed on May 24, 2004 that registers the shares of common stock for resale by the pension plan.

Avaya funded the contribution with a combination of 2,448,602 shares of treasury stock and a new issuance of 4,510,646 shares of common stock. The number of common shares Avaya contributed was based on the average of the opening and closing prices of Avaya common shares on June 9, 2004 or $15.95 per share.

About Avaya
Avaya Inc. designs, builds and manages communications networks for more than one million businesses worldwide, including over 90 percent of the FORTUNE 500®. Focused on businesses large to small, Avaya is a world leader in secure and reliable Internet Protocol (IP) telephony systems and communications software applications and services.

Driving the convergence of voice and data communications with business applications - and distinguished by comprehensive worldwide services - Avaya helps customers leverage existing and new networks to achieve superior business results. For more information visit the Avaya Web site: http://www.avaya.com

This news release contains forward-looking statements regarding the company's view of the benefits of the contribution to the pension plan. This view is based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to, general industry market conditions and growth rates and general domestic and international economic conditions including interest rate and currency exchange rate fluctuations and the economic, political, and other risks associated with international sales and operations, U.S. and foreign government regulation, price and product competition, rapid technological development, dependence on new product development, the successful introduction of new products, the mix of our products and services, customer demand for our products and services, the ability to successfully integrate acquired companies, control of costs and expenses, the ability to implement in a timely manner our restructuring plans, and the ability to form and implement alliances. For a further list and description of such risks and uncertainties, see the reports filed by Avaya with the Securities and Exchange Commission. Avaya disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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