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) March 7, 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 March 7, 2000, General Motors Corporation (GM) issued a press release
announcing redemption of Series-D Depositary Shares and Series-D TOPrS. The
release is as follows:
GM ANNOUNCES REDEMPTION OF SERIES-D DEPOSITARY SHARES
AND SERIES-D TOPrS
NEW YORK - General Motors Corp. (NYSE: GM) today announced the redemption
of a total of approximately 3 million outstanding depositary shares, each of
which represents a one-fourth interest in a GM Series-D 7.92% Preference Share
(NYSE: GM.D), and approximately 3.1 million outstanding Series-D 8.67% Trust
Originated Preferred Securities (TOPrS) (NYSE: GM.X). The securities together
have a total face value of approximately $150 million.
The redemption date is May 2, 2000. Investors will receive notice of the
redemptions by publication and by mail.
"These redemptions extinguish two expensive, debt-like obligations for
General Motors, while having a positive impact on GM $1-2/3 common stock
earnings per share," said GM Vice President and Treasurer Eric A. Feldstein.
The Series-D depositary shares will be redeemed at a price of $25 per
depositary share, plus accrued and unpaid dividends of $0.18 per share, for a
total redemption price of $25.18 per depositary share. In addition, as
previously announced, a dividend of $0.495 per Series-D depositary share for the
quarter ended March 31, 2000 will be paid on May 1, 2000 to the holders of
record on April 3, 2000. The Series-D depositary shares, issued in July 1992,
first became redeemable at GM's option beginning Aug. 1, 1999.
The Series-D TOPrS will be redeemed at a price of $25 per security, plus
an accrued and unpaid distribution of $0.01 per share, for a total redemption
price of $25.01 per Series-D TOPrS. Additionally, a distribution of
approximately $0.542 per Series-D TOPrS will be paid on May 1, 2000 to holders
of record on April 15, 2000 for the period beginning Feb. 1, 2000 and ending
April 30, 2000. The Series-D TOPrS first became redeemable at GM's option
beginning Aug. 1, 1999. They were issued in July 1997.
The redemption/paying agent for the redemption of the Series-D depositary
shares and the Series-D TOPrS is BankBoston N.A., 150 Royall Street, Canton,
Mass., 02021. Stockholders with questions about their Series-D preference shares
or Series-D TOPrS may call the information agent, Georgeson Shareholder
Communications Inc., at 1-800-223-2064.
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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 March 7, 2000
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By
s/Peter R. Bible
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(Peter R. Bible,
Chief Accounting Officer)
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