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Southern New England Telecommunications Corp – ‘S-3D’ on 5/31/95

As of:  Wednesday, 5/31/95   ·   Effective:  6/19/95   ·   Accession #:  790650-95-10   ·   File #s:  33-06320, 33-59713

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  As Of                Filer                Filing    For·On·As Docs:Size

 5/31/95  Southern New England Teleco… Corp S-3D        6/19/95    4:48K

Registration of Securities Pursuant to Dividend or Interest Reinvestment Plan   —   Form S-3
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: S-3D        Registration of Securities Pursuant to Dividend or    18±    70K 
                          Interest Reinvestment Plan                             
 2: EX-5        Opinion re: Legality                                   1      7K 
 3: EX-23       Consent of Experts or Counsel                          1      6K 
 4: EX-24       Power of Attorney                                      4±    16K 


S-3D   —   Registration of Securities Pursuant to Dividend or Interest Reinvestment Plan
Document Table of Contents

Page (sequential) | (alphabetic) Top
 
11st Page   -   Filing Submission
"Item 14. Other Expenses of Issuance and Distribution
"Item 15. Indemnification of Directors and Officers
"Item 16. Exhibits
"Item 17. Undertakings


Registration No. 33- SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM S-3 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 SOUTHERN NEW ENGLAND TELECOMMUNICATIONS CORPORATION A Connecticut I.R.S. Employer Corporation No. 06-1157778 227 Church Street, New Haven, Connecticut 06510 Telephone Number 203 771-5200 SHAREHOLDER DIVIDEND REINVESTMENT AND STOCK PURCHASE PLAN Agent for Service MADELYN M. DEMATTEO Vice President, General Counsel and Secretary 227 Church Street, New Haven, Connecticut 06510 Telephone Number 203 771-2110 Approximate date of commencement of proposed sale to the public: As soon as practicable after this Registration Statement becomes effective. If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box X If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box CALCULATION OF REGISTRATION FEE _________________________________________________________________ + + Proposed + Proposed + + + maximum + maximum + Title of each class + Amount + offering + aggregate + Amount of of securities + to be + price + offering + registration to be registered + registered + per share + price + fee Common Stock +5,000,000shs.+ $33.0625 + $165,312,500 + $57,005 ($1 Par Value) * Pursuant to Rule 457(c), the proposed maximum offering price per share of $33.0625 was derived from calculating the average of the high and low sale prices for the registrant's common stock as recorded on May 30, 1995 on the New York Stock Exchange Composite Transactions. Prospectus herein also relates to Registration No. 33-6320 pursuant to Rule 429. PROSPECTUS =========================================================== SOUTHERN NEW ENGLAND TELECOMMUNICATIONS CORPORATION SHAREHOLDER DIVIDEND REINVESTMENT AND STOCK PURCHASE PLAN The Shareholder Dividend Reinvestment and Stock Purchase Plan ("Plan") of Southern New England Telecommunications Corporation ("Corporation") provides holders of shares of the Corporation's common stock ("Common Shares") with a simple and convenient method of purchasing additional Common Shares without payment of any brokerage commission or service charge. Any holder of record of Common Shares is eligible to join the Plan. Investment options offered under the Plan are: Full Dividend Reinvestment - Reinvest dividends on all Common Shares held. Participants may also make optional cash payments up to an aggregate of $10,000 per quarter. Optional Cash Payments Only - Invest by making optional cash payments at any time in any amount up to an aggregate of $10,000 per quarter without reinvesting dividends on Common Shares held. The price of Common Shares purchased by participants in the Plan depends upon whether shares are newly issued by the Corporation or purchased by an independent agent in the open market. The price of shares newly issued by the Corporation will be the average of the high and low sale prices of the Common Shares on the New York Stock Exchange on the dividend payment date. The price of shares purchased by an independent agent will be the average price paid by that agent. This Prospectus relates to authorized and unissued Common Shares registered for purchase under the Plan, which shares, at the sole discretion of the Corporation, may be newly issued shares, shares purchased in the open market by an agent independent of the Corporation, or a combination of both. It is suggested that this Prospectus be retained for future reference. THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. Dated May 31, 1995 AVAILABLE INFORMATION The Corporation is subject to the informational requirements of the Securities Exchange Act of 1934 ("Exchange Act") and in accordance therewith files reports, proxy statements and other information with the Securities and Exchange Commission ("SEC"). Such reports, proxy statements and other information filed by the Corporation can be inspected and copied at the public reference facilities of the SEC, Room 1024, Judiciary Plaza, 450 Fifth Street, N.W., Washington, DC 20549, as well as the following SEC Regional Offices: 7 World Trade Center, Suite 1300, New York, NY 10048; and 500 W. Madison Street, Suite 1400, Chicago, IL 60661. Such material can also be inspected at the New York and Pacific Stock Exchanges on which the Common Shares are listed. Copies can be obtained from the SEC by mail at prescribed rates. Requests should be directed to the SEC's Public Reference Section, Room 1024, Judiciary Plaza, 450 Fifth Street, N.W., Washington, DC 20549. INCORPORATION OF DOCUMENTS BY REFERENCE The following documents have been filed by the Corporation with the SEC (File No. 1-9157) and are incorporated herein by reference: (1) The Corporation's Annual Report on Form 10-K for the fiscal year ended December 31, 1994; (2) The Corporation's Quarterly Report on Form 10-Q for the quarter ended March 31, 1995; (3) The Corporation's Current Reports on Form 8-K dated January 24, 1995, April 20, 1995, and May 18, 1995; and (4) The description of the Common Shares contained in Form 8-B dated May 21, 1986 and Form 8-K dated February 11, 1987. All documents filed by the Corporation pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date of this Prospectus shall be deemed to be incorporated by reference in this Prospectus and to be part hereof from the date of filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Prospectus to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein or in any prospectus supplement modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Prospectus. Copies of the above documents (excluding exhibits to such documents, unless such exhibits are specifically incorporated by reference therein) and of the Corporation's 1994 Annual Report to Shareholders may be obtained upon written or oral request without charge by each person, including beneficial owners, to whom this Prospectus is delivered, from the Director-Investor Relations of the Corporation, Shareholder Services Center, 1st Floor, 300 George Street, New Haven, Connecticut 06511 (telephone number 1-800-243-1110). 2 THE CORPORATION The Corporation was incorporated in 1986 under the laws of the State of Connecticut and has its principal executive offices at 227 Church Street, New Haven, Connecticut 06510 (telephone number (203) 771-5200). TABLE OF CONTENTS Available Information 2 Incorporation of Documents by Reference 2 The Corporation 3 The Plan 3 Purpose 3 Advantages 4 Administration 4 Participation 4 Costs 5 Purchases 5 Optional Cash Payments 6 Reports to Participants 6 Dividends 6 Certificates for Common Shares 7 Termination 7 Other Information 8 Use of Proceeds 10 Legal Opinion 10 Experts 10 Indemnification of Directors and Officers 10 SHAREHOLDER DIVIDEND REINVESTMENT AND STOCK PURCHASE PLAN The following is a question and answer statement of the provisions of the Shareholder Dividend Reinvestment and Stock Purchase Plan of the Corporation. Purpose 1. What is the purpose of the Plan? The purpose of the Plan is to provide holders of record of Common Shares with a simple and convenient method of investing cash dividends and optional cash payments in additional Common Shares at a price equal to market value, without payment of any brokerage commission or service charge. The Common Shares purchased from the Corporation with reinvested cash dividends and supplemental cash payments will, at the option of the Corporation, be newly issued shares, shares purchased in the open market by an independent agent, or a combination of both. - 3 - Advantages 2. What are the advantages of the Plan? Participants in the Plan may: (a) have cash dividends on their Common Shares automatically reinvested; (b) continue to receive their cash dividends on Common Shares registered in their names and invest by making optional cash payments up to an aggregate of $10,000 per quarter; or (c) invest both their cash dividends and such optional cash payments. No commission or service charge is paid by participants in connection with purchases under the Plan. Full investment of funds is possible under the Plan because the Plan permits fractions of Common Shares, as well as full Common Shares, to be credited to a participant's account. In addition, dividends in respect of such fractions, as well as full Common Shares, will be credited to a participant's account. Dividends on Common Shares in the participant's account are automatically reinvested in additional Common Shares. The Corporation assures safekeeping of Common Shares credited to a participant's account under the Plan since certificates for such Common Shares are not issued unless requested by the participant. Regular quarterly statements of account provide simplified recordkeeping. Administration 3. Who administers the Plan for participants? The Corporation administers the Plan for participants, keeps records, sends quarterly statements of account to participants and performs other duties relating to the Plan. Participation 4. How does a shareholder participate? All holders of record of Common Shares are eligible to participate in the Plan. A holder of record of Common Shares may join the Plan by completing and signing the Authorization Form and returning it to the Corporation. A return envelope is provided for this purpose. An Authorization Form may be obtained at any time by written request to Southern New England Telecommunications Corporation Shareholder Services, P. O. Box 1101, New Haven, Connecticut 06504, or by calling the Corporation toll free at 1-800-243-1110 from anywhere in the continental United States; if within the New Haven area, call 771-6542. 5. When may a shareholder join the Plan? A holder of record of Common Shares may join the Plan at any time. An optional cash payment may be made when joining by enclosing a check or money order (payable in United States dollars) with the Authorization Form. The Authorization Form must be received by the twentieth day of the month preceding the month in which a dividend is paid in order to reinvest that dividend. Any optional cash payments received prior to the dividend payment date will be invested on such dividend payment date. For example, in the case of a July 15 dividend, if the Authorization Form is received by the Corporation not later than June 20, the July 15 dividend would be reinvested-if the Authorization Form is received after June 20 the first dividend reinvested would be the October dividend. However, any optional cash payments received before July 15 would be invested on July 15. - 4 - 6. What does the Authorization Form provide? The Authorization Form provides for the purchase of additional Common Shares through the following investment options offered under the Plan: FULL DIVIDEND REINVESTMENT - Reinvest dividends on all Common Shares held by a participant. Optional cash payments in any amount up to an aggregate of $10,000 per quarter may also be invested. OPTIONAL CASH PAYMENTS ONLY - Invest by making optional cash payments at any time in any amount up to an aggregate of $10,000 per quarter without reinvesting dividends on Common Shares held. Cash dividends on Common Shares credited to the participant's account under the Plan are automatically reinvested to purchase additional Common Shares. 7. How may a participant change options under the Plan? A participant may change the investment option at any time by signing a new Authorization Form and returning it to the Corporation. An Authorization Form may be obtained at any time. (See Question 4 for address and telephone number.) Any change in option with respect to reinvestment of dividends must be received by the Corporation by the twentieth day of the month preceding a dividend payment date to allow sufficient time for processing. Costs 8. Are there any expenses to participants in connection with purchases under the Plan? No. Participants pay no brokerage fees. Any and all fees, commissions and expenses incurred in administration of the Plan are paid by the Corporation. Purchases 9. How many Common Shares will be purchased for participants? Each participant's account will be credited with that number of Common Shares, including fractions computed to three decimal places, equal to the total amount to be invested divided by the purchase price. 10. What will be the price of Common Shares purchased under the Plan? The price of Common Shares newly issued by the Corporation on any dividend payment date will be the average of the high and low sale prices for such Common Shares on the New York Stock Exchange (the ''NYSE'') on the dividend payment date (or the next preceding day on which there is a sale of Common Shares on the NYSE if there are no sales of such Common Shares on the dividend payment date). The price of Common Shares purchased in open market transactions will be the average price paid by an independent agent who will obtain them during the 2 week period preceding each dividend payment date. No Common Shares will be sold under the Plan at less than the $1.00 par value of such Common Shares. In the event the purchase price of the Common Shares is below par value, the dividend for that payment period will be sent to the shareholder and any optional cash payments received will be refunded. - 5 - Optional Cash Payments 11. How does the cash payments option work? On each dividend payment date any optional cash payments received from the participant prior to such dividend payment date will be applied by the Corporation to the purchase of additional Common Shares. Dividends on Common Shares registered in the participant's name will also be invested unless the participant has checked the "optional cash payments only" box on the Authorization Form. Dividends payable on Common Shares credited to the account of the participant under the Plan will be reinvested in additional Common Shares. 12. How are optional cash payments made? The option to make cash payments is available to each participant each quarter. Optional cash payments by a participant cannot exceed an aggregate of $10,000 per quarter. An optional cash payment may be made by a participant when enrolling by enclosing a check or money order (payable in United States dollars) with the Authorization Form. Thereafter, to insure the proper crediting of accounts, such payments should be made through the use of cash payment forms sent to participants by the Corporation. The same amount of money need not be sent each quarter and there is no obligation to make an optional cash payment each quarter. If a participant wishes to make optional cash payments on a regular basis, the Corporation will, on request, mail to the participant a notice shortly before each dividend payment date as a reminder of the time to make the cash payment. 13. When will optional cash payments received by the Corporation be invested? Optional cash payments received on or after a given dividend payment date will be held by the Corporation until the next dividend payment date. (Dividend payment dates ordinarily are the fifteenth of January, April, July and October.) No Interest Will Be Paid By The Corporation On Cash Payments. Optional cash payments will be returned if written notification is received by the Corporation not later than the day preceding the dividend payment date. Reports To Participants 14. What reports will be sent to participants in the Plan? Each participant in the Plan will receive a quarterly statement of account. These statements are a participant's continuing record of the cost of purchases and should be retained for income tax purposes. In addition, each participant will receive a Prospectus for the Plan and copies of the same communications sent to every other registered holder of Common Shares. Dividends 15. Will a participant's account be credited with dividends on fractions of Common Shares? Yes. A participant's account will be credited with dividends on fractions of Common Shares. - 6 - Certificates For Common Shares 16. Will certificates be issued for Common Shares purchased? Common Shares purchased under the Plan will be registered in the name of the Corporation, as agent for participants in the Plan, and certificates for such Common Shares will not be issued to participants unless requested. The number of Common Shares credited to an account under the Plan will be shown on the participant's quarterly statement of account. This protects against loss, theft or destruction of stock certificates. Certificates for any number of whole Common Shares credited to an account under the Plan will be issued within ten business days after receipt of a written request from a participant who wishes to remain in the Plan. This request should be mailed to Southern New England Telecommunications Corporation Shareholder Services, P. O. Box 1101, New Haven, Connecticut 06504. Any remaining full Common Shares and fractions of a Common Share will continue to be credited to the participant's account. Common Shares credited to the account of a participant under the Plan may not be pledged. A participant who wishes to pledge such Common Shares must request that certificates for such Common Shares be issued in the participant's name. Certificates for fractions of Common Shares will not be issued under any circumstances. 17. In whose name will certificates be registered when issued? Accounts under the Plan are maintained in the names in which certificates of the participants were registered at the time they entered the Plan. Certificates for whole Common Shares will be similarly registered when issued. Termination 18. How is participation in the Plan terminated? In order to terminate participation in the Plan, a participant must send a written request to Southern New England Telecommunications Corporation Shareholder Services, P.O. Box 1101, New Haven, Connecticut 06504. When participation in the Plan is terminated, whole Common Shares in a participant's account under the Plan will be credited to that shareholder's account in book-entry form, unless the participant requests stock certificates and a cash payment will be made for any fraction of a Common Share, based on the current market price of Common Shares less any related brokerage fees and any transfer tax. Upon termination from the Plan, the participant may request that all of the Common Shares be sold. Normally, the sale will be made for the account of the participant by an independent fiduciary institution designated by the Corporation, within seven business days after receipt of the request. The participant will receive the proceeds of the sale less any brokerage fees and any transfer tax. 19. When may participation in the Plan be terminated? Participation in the Plan may be terminated at any time. 20. When may an investment for a dividend payment date be stopped? Without terminating participation in the Plan, a shareholder may stop all investment on a dividend payment date if written instructions to stop such investment are received not later than the day preceding the dividend payment date. - 7 - Other Information 21. What happens when a participant sells or transfers all of the Common Shares registered in the participant's name? If a participant disposes of all Common Shares registered in the participant's name, the Corporation will continue to reinvest the dividends on the Common Shares credited to the participant's account under the Plan until otherwise notified. However, if the Plan account in such a case is credited with less than one full Common Share, the Corporation reserves the right to close the account and remit to the participant the value of such fractional Common Share determined in accordance with the procedure for the payment for fractional Common Shares described in answer to Question 18. 22. What happens if the Corporation issues a stock dividend or declares a stock split? Any Common Shares distributed as a result of a stock dividend or stock split by the Corporation on Common Shares credited to the account of a participant under the Plan will be added to the participant's account. Stock dividends or split Common Shares distributed on Common Shares registered in the name of the participant will be credited to that shareholder's account in book-entry form in the same manner as to shareholders who are not participating in the Plan. 23. How will a participant's Common Shares be voted at meetings of shareholders? Any Common Shares held in the Plan for a participating shareholder will be voted as the shareholder directs. Participating shareholders will receive a single proxy covering all Common Shares registered in their names as well as all whole Common Shares credited to their accounts under the Plan. If no Common Shares are registered in a participant's name, a proxy card will be furnished to the participant for whole Common Shares credited to the participant's account under the Plan. If no instructions are received on a proxy card returned, properly signed, with respect to any item thereon, all of a participant's Common Shares-those registered in the participant's name, if any, and those credited to the participant's account under the Plan-will be voted in the same manner as for non- participating shareholders who return proxies and do not provide instructions, in accordance with the recommendations of the Corporation's Board of Directors. If the proxy card is not returned or if it is returned unsigned, none of the participant's Common Shares will be voted unless the participant votes in person. 24. What are the Federal income tax consequences of participation in the Plan? A ruling was received from the Internal Revenue Service concerning Federal income tax consequences for Plan participants. Under the ruling: (1) A participant in the Plan will be treated for Federal income tax purposes as having received, on the dividend payment date, a dividend equal to the full amount of the cash dividend otherwise payable to the participant on such date with respect to the participant's Common Shares and the tax basis of Common Shares credited to the participant's account will equal the amount of such dividend. The tax basis of Common Shares purchased with an optional cash payment and credited to the participant's account will be the amount of such optional cash payment. (2) A participant's holding period for Common Shares credited to the participant's Plan account begins on the day following the dividend payment date. - 8 - (3) A participant will not realize any taxable income when the participant either receives book-entry credits or stock certificates for whole Common Shares credited to the participant's account, either upon the participant's request for certain of those Common Shares or upon termination of participation in or termination of the Plan. (4) A participant will realize gain or loss when Common Shares are sold or exchanged, whether pursuant to the participant's request upon termination of participation in the Plan (see Question 18) or by the participant after receipt of Common Shares from the Plan, and, in the case of a fractional Common Share, when the participant receives a cash adjustment for a fraction of a Common Share credited to the participant's account upon termination of participation in or termination of the Plan; and the amount of such gain or loss will be the difference between the amount which the participant receives for the Common Shares or fraction of a Common Share, and the tax basis therefor. 25. What are the effects of the Interest and Dividend Tax Compliance Act of 1983 on the Plan? If a participant has failed to furnish a valid taxpayer identification number to the Corporation, unless the participant is exempt from the withholding requirements described in section 3406 of the Internal Revenue Code, then the Corporation must withhold 31% from the amount of Common Share dividends, the proceeds of the sale of fractional Common Shares and the proceeds of any sale of whole Common Shares. In addition, section 3406 of the Internal Revenue Code provides that if a new participant, who enrolls after December 31, 1983, fails to certify that such participant is not subject to withholding on interest and dividend payments, then 31% must be withheld from the amount of Common Share dividends. The withheld amounts will be deducted from the amount of dividends and the remaining amount will be reinvested. 26. What is the responsibility of the Corporation under the Plan? The Corporation, in administering the Plan, will not be liable for any act done in good faith or for any good faith omission to act, including, without limitation, any claim of liability arising out of failure to terminate a participant's account upon such participant's death prior to receipt of notice in writing of such death. Participants should recognize that the Corporation cannot assure them of a profit or protect them against a loss on Common Shares purchased by them under the Plan. Although the Plan contemplates the continuation of quarterly dividend payments, the payment of future dividends will depend upon future earnings, the financial condition of the Corporation and other factors. 27. May the Plan be changed or discontinued? The Corporation reserves the right to suspend, modify or terminate the Plan at any time. All participants will receive notice of any such suspension, modification or termination. Upon termination of the Plan by the Corporation, either book-entry credits or certificates for whole Common Shares credited to a participant's account under the Plan will be issued and a cash payment will be made for any fraction of a Common Share. - 9 - USE OF PROCEEDS The Corporation does not know either the number of Common Shares that will ultimately be purchased under the Plan or the prices at which such Common Shares will be sold. The Corporation intends to apply such proceeds as are received for the construction of plant and facilities and for expansion and improvement of telephone services provided by the Corporation; for investment in its unregulated subsidiaries; and for general corporate purposes. The Corporation is unable to determine the amount of the proceeds which will be allocated to each of these purposes. LEGAL OPINION Madelyn M. DeMatteo, Vice President, General Counsel and Secretary of the Corporation, provided the opinion on the validity of the Common Shares being registered herein. As of May 18, 1995, Ms. DeMatteo owned 13,798 Common Shares and has options to acquire 69,550 additional Common Shares. EXPERTS The consolidated financial statements and financial statement schedule of the Corporation incorporated by reference or included in the Annual Report on Form 10-K for the fiscal year ended December 31, 1994 are incorporated herein by reference in reliance upon the reports of Coopers & Lybrand L.L.P., independent accountants, given on their authority as experts in accounting and auditing. INDEMNIFICATION OF DIRECTORS AND OFFICERS The general statutes of the State of Connecticut specify when a Connecticut corporation shall indemnify any shareholder, director, officer, employee or agent. Generally, the Connecticut statute (Conn. Gen. Stat. 33-320a) provides that in order to be indemnified the shareholder, director, officer, employee or agent (1) must not have been adjudged to have breached his duty to the corporation or (2) must have acted in good faith and in a manner he reasonably believed to be in the best interests of the corporation and, with respect to any criminal action or proceeding, he must have had no reasonable cause to believe his conduct was unlawful. As permitted under Section 33-290 of the Connecticut General Statutes, the registrant's certificate of incorporation (subject to certain specified exceptions involving violations of law, self- dealing, lack of good faith, abdication of duty, and illegal distributions and improper loans) limits the personal liability of its directors for monetary damages to the registrant or its shareholders for a breach of duty as a director to the amount of compensation received by the director for serving the registrant during the year of violation. The directors and officers of the registrant are covered by insurance policies indemnifying them against certain liabilities, including certain liabilities arising under the Securities Act of 1933, which might be incurred by them in such capacities and against which they cannot be indemnified by the registrant. - 10 - PART II INFORMATION NOT REQUIRED IN PROSPECTUS Item 14. Other Expenses of Issuance and Distribution. Securities and Exchange Commission Filing Fee.... $ 57,005 Printing of Prospectus............................ 20,000 * Accountant's Fees................................. 1,500 * Legal Fees........................................ 1,000 * Miscellaneous Expenses............................ 18,000 * Total.......................................... $ 97,505 * *Estimated. Item 15. Indemnification of Directors and Officers. The general statutes of the State of Connecticut specify when a Connecticut corporation shall indemnify any shareholder, director, officer, employee or agent. Generally, the Connecticut statute (Conn. Gen. Stat. 33-320a) provides that in order to be indemnified the shareholder, director, officer, employee or agent must not have been adjudged to have breached his duty to the corporation or must have acted in good faith and in a manner he reasonably believed to be in the best interests of the corporation and, with respect to any criminal action or proceeding, he must have had no reasonable cause to believe his conduct was unlawful. As permitted under Section 33-290 of the Connecticut General Statutes, the Corporation's certificate of incorporation (subject to certain specified exceptions involving violations of law, self-dealing, lack of good faith, abdication of duty, and illegal distributions and improper loans) limits the personal liability of its directors for monetary damages to the Corporation or its shareholders for a breach of duty as a director to the amount of compensation received by the director for serving the Corporation during the year of violation. The directors and officers of the registrant are covered by insurance policies indemnifying them against certain liabilities, including certain liabilities arising under the Securities Act of 1933, which might be incurred by them in such capacities and against which they cannot be indemnified by the registrant. Item 16. Exhibits. Exhibits identified in parentheses below, on file with the SEC, are incorporated herein by reference as exhibits hereto. Exhibit Number Description 4 Rights Agreement dated February 11, 1987 between Southern New England Telecommunications Corporation and The State Street Bank and Trust Company, as Rights Agent (Exhibit 1 to Form SE dated 2/13/87-1, File No. 1-9157). Amendment No. 1 dated December 13, 1989 (Exhibit 4 to Form SE dated 12/28/89, File No. 1-9157). Amendment No. 2 dated October 10, 1990 (Exhibit 4 to Form SE dated 10/12/90, File No. 1-9157). A-1 5 Opinion of Madelyn M. DeMatteo, Vice President, General Counsel and Secretary as to the legality of the securities being registered. 23.1 Consent of independent public accountants. 23.2 Consent of Madelyn M. DeMatteo, Vice President, General Counsel and Secretary is contained in Exhibit 5. 24 Powers of Attorney. Item 17. Undertakings The undersigned registrant hereby undertakes: (1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: (i) To include any prospectus required by section 10(a)(3) of the Securities Act of 1933; (ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement; and (iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement. Provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the registration statement is on Form S-3, and the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement. (2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. (3) To remove from registration by means of a post- effective amendment any of the securities being registered which remain unsold at the termination of the offering. (4) That, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. A-2 Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the provisions described in Item 15 above, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue. A-3 SIGNATURES Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City of New Haven, State of Connecticut, on the 31st day of May, 1995. SOUTHERN NEW ENGLAND TELECOMMUNICATIONS CORPORATION By: /s/ Madelyn M. DeMatteo Madelyn M. DeMatteo Secretary Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below by the following persons in the capacities and on the date indicated. Principal Executive Officer: # # D. J. Miglio* # Chairman, President and Chief # Executive Officer and Director # # Principal Financial Officer: # # Donald R. Shassian* # Senior Vice President and # Chief Financial Officer # # Principal Accounting Officer: # # J. A. Sadek* # Vice President and Comptroller # # Directors: # By: /s/ Madelyn M. DeMatteo # Madelyn M. DeMatteo F. G. Adams* # as Attorney-in-Fact William F. Andrews* # Richard H. Ayers* # Zoe Baird* # R. L. Bennett* # Barry M. Bloom* # * by power of attorney F. J. Connor* # W. R. Fenoglio* # Claire L. Gaudiani* # May 31, 1995 J. R. Greenfield* # Burton G. Malkiel* # Frank R. O'Keefe, Jr. # EXHIBIT INDEX Exhibits identified in parentheses below, on file with the SEC, are incorporated herein by reference as exhibits hereto. Exhibit Number Description 4 Rights Agreement dated February 11, 1987 between Southern New England Telecommunications Corporation and The State Street Bank and Trust Company, as Rights Agent (Exhibit 1 to Form SE dated 2/13/87-1, File No. 1-9157). Amendment No. 1 dated December 13, 1989 (Exhibit 4 to Form SE dated 12/28/89, File No. 1-9157). Amendment No. 2 dated October 10, 1990 (Exhibit 4 to Form SE dated 10/12/90, File No. 1-9157). 5 Opinion of Madelyn M. DeMatteo, Vice President, General Counsel and Secretary as to the legality of the securities being registered. 23.1 Consent of independent public accountants. 23.2 Consent of Madelyn M. DeMatteo, Vice President, General Counsel and Secretary is contained in Exhibit 5. 24 Powers of Attorney.

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘S-3D’ Filing    Date    Other Filings
Effective on:6/19/95
Filed on:5/31/95
5/30/95
5/18/958-K
4/20/958-K
3/31/9510-Q
1/24/958-K
12/31/9410-K,  10-K405/A
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