SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549-1004
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report
(Date of earliest event reported) June 6, 2000
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GENERAL MOTORS CORPORATION
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(Exact name of registrant as specified in its charter)
STATE OF DELAWARE 1-143 38-0572515
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
300 Renaissance Center, Detroit, Michigan 48265-3000
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (313) 556-5000
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ITEM 5. OTHER EVENTS
On June 6, 2000, General Motors Corporation (GM) issued a press release
announcing that GM declared a three-for-one stock split of GM Class H common
stock. The release is as follows:
GM ANNOUNCES THREE-FOR-ONE SPLIT OF CLASS H STOCK
WILMINGTON, Del. - The General Motors Corp. (NYSE: GM, GMH) Board of Directors
today declared a three-for-one stock split of GM Class H common stock. The stock
split will be in the form of a 200 percent stock dividend, payable on June 30,
2000 to GM Class H stockholders of record on June 13, 2000.
"The split will make the Class H stock substantially more liquid and accessible
to a broader range of investors," said General Motors Chairman John F. Smith,
Jr. "We believe that the appreciation in the value of the Class H stock has made
this the right course of action." The board's announcement follows stockholder
approval, received at this morning's GM annual stockholders' meeting, of a
management proposal to increase the number of authorized shares of GM Class H
common stock from 600 million shares to 3.6 billion shares. An amendment to GM's
certificate of incorporation implementing the increase was filed today.
GM announced, in February 2000, a broad restructuring of its economic interest
in Hughes in order for GM and its stockholders to realize more of the economic
value of Hughes. General Motors repurchased about 14 percent of its outstanding
GM $1-2/3 par value common stock using approximately $9 billion of GM Class H
common stock through a successful exchange offer completed in May 2000. During
the second quarter of 2000, GM also plans to contribute up to $7 billion of
Class H stock to certain of its employee benefit plans.
GM's Class H stock is a tracking stock designed to provide holders with
financial returns based on the financial performance of Hughes Electronics
Corporation, a wholly owned subsidiary of General Motors.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GENERAL MOTORS CORPORATION
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(Registrant)
Date June 12, 2000
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By
s/Peter R. Bible
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(Peter R. Bible,
Chief Accounting Officer)
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