Business Editors
EPHRATA, Pa.--(BUSINESS WIRE)--June 11, 2002
D&E Communications, Inc. ("D&E") (Nasdaq:DECC) reported today that the tabulation and calculation process for election forms submitted to D&E's exchange agent in connection with its recent acquisition
Later this week, D&E's exchange agent, StockTrans, Inc., will begin to mail the merger consideration to shareholders of Conestoga. As a result of the final election outcome, Conestoga shareholders who elected to receive their merger consideration 100% in cash are subject to a proration adjustment of 0.6704. Consequently, each such Conestoga shareholder will receive 67.04% cash and 32.96% D&E common stock. Conestoga shareholders electing to receive merger consideration either 100% in D&E common stock or 55% in cash and 45% in D&E common stock will receive all stock or cash and stock in accordance with their election. Fractional shares resulting from the conversion to D&E Communications common stock will be paid out to Conestoga shareholders in cash.
D&E Communications, Inc. is a provider of integrated communications services to residential and business customers in markets throughout central and eastern Pennsylvania. D&E offers its customers a comprehensive package of communications services including local and long distance telephone service, high-speed data services, Internet access service and cable television service. D&E also provides business customers with integrated voice and data network solutions.
Investors and security holders may obtain a free copy of D&E's registration statement on Form S-4, including the definitive Proxy Statement/Prospectus, at the SEC's web site at www.sec.gov. The documents filed with the SEC by D&E and Conestoga may also be obtained for free from D&E by directing a request to D&E Communications, Inc., 124 East Main Street, Ephrata, Pennsylvania 17522, Attn: Investor Relations. Certain of these documents may also be accessed on D&E's web site at www.decommunications.com.