DENVER, Nov. 25, 2020 /PRNewswire/ — Lumen Technologies* (NYSE: LUMN) introduced that it has prolonged the expiration date of its Amended and Restated Part 382 Rights Settlement (the “NOL Rights Plan”) from Dec. 1, 2020, to Dec. 1, 2023, with the unanimous approval of its board of administrators.
The corporate has prolonged its NOL Rights Plan by way of Dec. 1, 2023 to guard its federal web working loss carryforwards of roughly $6.2 billion as of Dec. 31, 2019, which, if out there, can be utilized to scale back its future funds of U.S. federal revenue taxes.
The NOL Rights Plan was authorised by the corporate’s shareholders at its 2019 Annual Assembly of Shareholders by roughly 90% of the votes solid. The corporate intends to submit the extension of the NOL Rights Plan for approval by the corporate’s shareholders at its 2021 Annual Assembly of Shareholders. If shareholder approval shouldn’t be obtained by Dec. 1, 2021, the NOL Rights Plan will terminate on such date.
Further details about the extension shall be contained in experiences on Type 8-Okay and Type 8-A/A that the corporate plans to file with the U.S. Securities and Alternate Fee.
Lumen is guided by our perception that humanity is at its finest when know-how advances the best way we stay and work. With roughly 450,000 route fiber miles and serving clients in additional than 60 international locations, we ship the quickest, most safe platform for purposes and information to assist companies, authorities and communities ship wonderful experiences.
Study extra in regards to the Lumen community, edge cloud, safety, communication and collaboration options and our goal to additional human progress by way of know-how at information.lumen.com, LinkedIn: /lumentechnologies, Twitter: @lumentechco, Fb: /lumentechnologies, Instagram: @lumentechnologies and YouTube: /lumentechnologies. Lumen and Lumen Applied sciences are registered logos of Lumen Applied sciences LLC in the US. Lumen Applied sciences LLC is a wholly-owned affiliate of CenturyLink Inc.
* The Lumen model was launched on Sept. 14, 2020. Because of this, CenturyLink Inc. is known as Lumen Applied sciences, or just Lumen. The authorized identify CenturyLink, Inc. is predicted to be formally modified to Lumen Applied sciences, Inc. upon satisfying all relevant authorized necessities.
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SOURCE Lumen Applied sciences