HOFFMAN ESTATES (dpa-AFX) - Sears Holdings Corp. (SHLD) announced that it has completed its spin-off of its interest in Orchard Supply Hardware Stores Corp. Orchard is now independent from Holdings and its Class A Common Stock will begin trading on the NASDAQ Capital Market under the ticker symbol 'OSH' from Jan. 3, 2012 and Orchard's Series A Preferred Stock will be quoted on the OTCQB.
Sears Holdings will continue to be listed on the NASDAQ Global Select Market under the symbol 'SHLD.'
The spin-off was effective at 11:59 p.m. EST on Dec. 30, 2011. Holdings' shareholders of record as of the close of business on Dec. 16, 2011, the record date for the spin-off, received shares of Orchard Class A Common Stock and Orchard Series A Preferred Stock, on a pro-rata basis, that were held by Holdings immediately prior to the spin-off.
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© 2011 AFX News
