Why did Time Warner Cable plan to effect a reverse stock split of its common stock?
Time Warner Cable effected the reverse stock split in connection with the Company’s separation from Time Warner. As a result of the payment of the Company’s special dividend on March 12, 2009, the trading price of Time Warner Cable stock was significantly lower than its historical trading range because the trading price no longer reflected the value of the dividend. The Company believes that a reverse stock split may improve the marketability and liquidity of Time Warner Cable common stock and that, by increasing the market price of Time Warner Cable common stock, the reverse stock split may encourage interest and trading in the Time Warner Cable common stock. A more complete discussion of the business reasons for the reverse stock split can be found in the Time Warner Cable Definitive Information Statement on Schedule 14C dated February 20, 2009, which is available at the Investor Relations page of Time Warner Cable’s website: www.timewarnercable.com/investors. Did Time Warner Cable’s
