IDT Corporation (NYSE: IDT; IDT.C) said today that it has completed the
previously announced pro rata tax-free spin-off of the common stock of
CTM Media Holdings, Inc., a wholly-owned subsidiary of IDT, to IDT’s
stockholders.
CTM Media Holdings’ Class A common stock and Class B common stock are
now quoted on the Pink OTC Markets.
CTM Media Holdings’ Class A common stock and Class B common stock are
trading under the symbols CTMMA and CTMMB, respectively, in a change
from the symbols previously announced.
The CUSIP numbers for CTM Media Holdings’ Class A common stock and for
Class B common stock remain 22944D 104, and 22944D 203, respectively.
On September 14, 2009, the distribution date for the spin-off, each IDT
stockholder received one share of Holdings’ Class A common stock for
every three shares IDT common stock, one share of CTM Media Holdings’
Class B common stock for every three shares of IDT Class B common stock,
and one share of CTM Media Holdings’ Class C common stock for every
three shares of the Registrant’s Class A common stock.
As of August 3, 2009, the record date for the distribution, there were a
total of approximately 3.3 million shares of IDT Class A, approximately
15.5 million shares of IDT Class B and approximately 4.2 million shares
of IDT common stock issued and outstanding.
About CTM Media Holdings:
CTM Media Holdings is the holding company for: CTM Media Group (www.ctmmediagroup.com) -
a leading distributor of print and online advertising and information in
targeted North American tourist markets; Idea and Design Works, LLC (www.idwpublishing.com)
- IDW Publishing, a comic and book publisher with a diverse catalog of
licensed and independent titles including classic collections; and WMET
1160 AM (www.wmet1160.com)
-a paid programming radio station in the Washington, D.C. metropolitan
area. CTM Media Holdings Class A and Class B common stock are quoted on
the Pink OTC Markets under the ticker symbols CTMM and CTMX,
respectively.
About IDT Corporation:
IDT
Corporation (www.idt.net)
is a consumer focused company operating primarily in the
telecommunications and energy industries. IDT Corporation’s Class B
common stock and common stock trade on the New York Stock Exchange under
the ticker symbols IDT and IDT.C, respectively.
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