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. The common stock of the new holding company will continue to trade on the Nasdaq National Market under the symbol "ATVI." Under Delaware law, the reorganization was done in a way that didnt need action by Activision's stockholders, whose rights, privileges and interests will remain the same with respect to the new holding company. The change was also tax free to the company's stockholders. The by-laws, executive officers and board of directors of the new holding company will remain the same.