TYPE: 425
SEQUENCE: 1
DESCRIPTION: FILING OF COMMUNICATION
Filed by General Motors Corporation (GM)
Subject Company - General Motors Corporation
Pursuant to Rule 425 under the Securities Act of 1933
File No. 333-30826
The following communications contain forward-looking statements within the
meaning of the Safe Harbor Provisions of the Private Securities Litigation
Reform Act of 1995. Reference made in the following are based on management's
current expectations or beliefs and are subject to a number of factors and
uncertainties that could cause actual results to differ materially from those
described in the forward-looking statements.
The principal risk factors that may cause actual results to differ materially
from those expressed in forward-looking statements contained in this
communication are described in various documents filed by GM with the U.S.
Securities and Exchange Commission (SEC), including GM's Annual Report on Form
10-K for the year ended December 31, 1999.
* * * * * * * * *
The following is a press release, regarding the exchange offer, issued in
Switzerland on April 27, 2000 in the French language:
GENERAL MOTORS CORPORATION
Detroit, Michigan, und New York, New York, USA
Certificats suisses - n(degree)de valeur 933'263 / ISIN CH0009332633
OFFRE D'ECHANGE (valable jusqu'au 19 mai 2000)
Dans le cadre d'un rachat d'actions ordinaires GM d'une valeur nominale de USD
12/3 par echange contre env. USD 9 milliards en actions ordinaires GM Class H,
General Motors Corporation (GM) offre aux detenteurs d'actions ordinaires la
possibilite d'echanger leurs actions en rapport 1,065 nouvelles actions
ordinaires Class H pour chaque action ordinaire de USD 12/3 nom. validement
apportee. Si plus de 86'396'977 actions ordinaires etaient presentees validement
a l'offre, l'echange aura lieu sur une base prorata. Les fractions revenant de
l'operation seront indemnisees en numeraire. L'offre est soumise a plusieurs
conditions. GM a le droit de retirer son offre ou d'en modifier en tout moment
les conditions.
Les detenteurs des certificats suisses GM enregistres au nom de SNOC qui
desirent apporter leurs actions a l'echange sont pries de remettre les
certificats a leur banque, en lui indiquant ou, aux Etats-Unis, il faut mettre a
disposition les nouvelles actions GM Class H.
Les actionnaires recevront de leur banque depositaire de plus amples
renseignements concernant les conditions de l'offre d'echange. Il est en outre
possible de commander sans frais, aupres de Credit Suisse First Boston,
Corporate Actions, PSOV 75, 8070 Zurich, un prospectus a ce sujet en anglais. GM
recommande de lire de pres ce prospectus. Pour obtenir plus d'information sur
l'offre d'echange, les actionnaires peuvent consulter le website de la SEC
(www.sec.gov) ou celui de GM (www.gm.com).
par ordre
CREDIT SUISSE FIRST BOSTON
le 27 avril 2000
* * * * * * * * *
The following is a press release, regarding the exchange offer, issued in
Switzerland on April 27, 2000 in the German language:
GENERAL MOTORS CORPORATION
Detroit, Michigan, und New York, New York, USA
Schweizer Zertifikate - Valoren-Nr. 933'263 / ISIN CH0009332633
UMTAUSCH-OFFERTE (gultig bis 19. Mai 2000)
Im Rahmen eines Ruckkaufes von GM-Stammaktien von $ 1 2/3 Nominalwert im
Umtausch gegen ca. $ 9 Mia. von GM Class H Stammaktien unterbreitet General
Motors Corporation (GM) den Stammaktionaren die Offerte, ihre Aktien im
Verhaltnis 1,065 neue Class H Stammaktien (Valoren Nr. 834'871) fur jede gultig
angediente Stammaktie von $ 1-2/3 Nominalwert (Valoren Nr. 933'263) zu tauschen.
Sollten mehr als 86'396'977 Stammaktien zur Offerte gultig angemeldet werden
erfolgt der Umtausch auf einer pro rata Basis. Entstehende Fraktionen werden in
bar abgegolten . Die Offerte ist an verschiedene Bedingungen geknupft. GM steht
das Recht zu, die Angebotsbedingungen jederzeit zu andern oder die Offerte
zuruckzuziehen.
Inhaber von auf den Namen SNOC eingetragenen GM - Schweizer Zertifikaten,die
ihre Aktien zum Umtausch anmelden wollen sind gebeten, die Zertifikate ihrer
Bank mit Instruktionen, wo die neuen GM Class H - Aktien in den USA zur
Verfugung gestellt werden sollen, einzureichen.
Einzelheiten zu den Bedingungen des Umtauschangebotes werden den Aktionaren uber
ihre Depotbank mitgeteilt und konnen ausserdem einem Prospekt in englischer
Sprache, der bei Credit Suisse First Boston, Corporate Actions, PSOV 75, 8070
Zurich kostenfrei angefordert werden kann, entnommen werden.
GM empfiehlt, diesen Prospekt zu lesen. Zusatzlich konnen Aktionare weitere das
Umtauschangebot betreffende Informationen von der Web Site der SEC (www.sec.gov)
oder von der GM Web Site (www.gm.com) erhalten.
Im Auftrag
CREDIT SUISSE FIRST BOSTON
27. April 2000
* * * * * * * * *
The following is an addition, first used on April 27, 2000, to a script to
answer questions from stockholders:
Q. As a participant in a GM or a GM-affiliated savings plan, why am I not
eligible for the preferential treatment that odd-lot holders receive?
A. A term of the exchange offer is that holders of an aggregate of less than
100 shares of $1-2/3 par value common stock who validly tender all of their
shares will not be subject to proration if the exchange offer is
oversubscribed. As a participant in one of the savings plans, this term
does not apply to you as you do not hold shares directly but rather hold
units which represent your interests in shares. The trustee of your savings
plan is the actual holder of the shares and the preferential treatment for
odd-lots would apply to them, however, as of April 20, 2000, none of such
plans held less than 100 shares and we currently expect that all such plans
will continue to hold more than 100 shares during the exchange offer period.
Q. What is "when issued" trading and will it apply to the exchange offer?
A. "When issued" trading is trading of shares that have not been issued yet
(i.e., the new shares that will be issued in connection with the exchange
offer). "When issued" trading allows investors to agree now to buy or sell
Class H stock once the exchange offer is completed. A buyer of a "when
issued" share is entitled to delivery of a Class H share following the
exchange offer while a seller of a "when issued" share is obligated to
deliver a Class H share following the exchange. The NYSE announced on April
26, 2000 that it would make a market for "when issued" trading in Class H
stock from May 1 until May 19. The "when issued" trades will all be settled
following the exchange offer, although the specific settlement date has yet
to be announced.
GM urges holders of GM $1-2/3 common stock to read the final Registration
Statement on Form S-4, including the final prospectus, regarding the exchange
offer referred to above, as well as the other documents which General Motors has
filed with the SEC, because they contain certain important information for
making an informed investment decision. Holders of GM $1-2/3 common stock may
obtain a free copy of the final prospectus and other documents filed by General
Motors at the SEC's web site at www.sec.gov, at General Motors' website at
www.gm.com, or from General Motors by directing such request in writing or by
telephone to: GM Fulfillment Center, 30200 Stephenson Hwy(MC 480-000-FC1),
Madison Heights, Michigan 48071, telephone: (313)667-1500, menu option #2. This
communication shall not constitute an offer to sell or a solicitation of an
offer to buy, nor shall there be any sale of securities in any jurisdiction in
which an offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. No offering of
securities shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as amended. Inquiries
from the news media should be directed to GM Corporate Communications at
212-418-6380.
* * * * * * * * *
The following information appears on the GM website at www.gm.com:
INVESTOR INFORMATION:
NEW FEATURES ON THIS SITE:
Get the facts about the GM $1-2/3- GM Class H Share Exchange.
FOR STOCKHOLDERS:
GM $1-2/3 --GM Class H Share Exchange:Read news releases and frequently asked
questions related to GM's proposed plans to repurchase GM $1-2/3 stock in
exchange for $9 billion of Class H stock and contribute $7 billion of Class H
stock to its benefit plans.
GM $1-2/3-- GM CLASS H SHARE EXCHANGE
On February 1, the GM Board of Directors approved a restructuring of GM's
economic interest in Hughes Electronics, which included an offer to its current
shareholders to repurchase GM $1-2/3 stock in exchange for approximately $8
billion of Class H stock and contributions of approximately $7 billion of Class
H stock to GM benefit plans. In March, the Board authorized an increase in the
amount of the share exchange to $9 billion to offset new stock issuances being
used to finance the acquisition of a 20% stake in Fiat Auto.
The following provides additional information on this announcement: [includes
and will include links to the text of materials previously filed with the
Securities and Exchange Commission pursuant to Rule 425 under the Securities Act
of 1933, as amended, each containing the legend required under Rule 425.]
