On June 19, 2000, Activision, Inc. announced that on June 9, 2000, it reorganized into a holding company structure. The purpose of the reorganization was to provide the company with a more flexible organizational and capital structure and to enhance its financing options. As a result, the new Activision Inc. owns 100% of the previously publicly held Activision, Inc., which has been renamed Activision Publishing, Inc. The company structure will not change as a result of the reorganization. The company's existing stock certificates represent shares of the new holding company.