Conversion of Securities
September 22 2003 - 2:01AM
UK Regulatory
RNS Number:9981P
United Technologies Corporation
19 September 2003
Contact: Paul Jackson FOR IMMEDIATE RELEASE
(860) 728-7912 www.utc.com
UTC'S PREFERRED ESOP SHARES WILL CONVERT TO COMMON STOCK
HARTFORD, Conn., Sept. 18, 2003 - Convertible preferred shares held in United
Technologies Corporation's Employee Stock Ownership Plan (ESOP) will convert to
common shares in the fourth quarter 2003. The conversion will have no effect on
UTC's fully diluted earnings per share and a slightly positive effect on its
debt-to-capital ratio as the shares are reclassified as equity.
Based in Hartford, Conn., United Technologies is a diversified company that
provides high technology products and services to the aerospace and commercial
building industries through its Pratt & Whitney, Hamilton Sundstrand, Sikorsky,
Otis, Carrier, UTC Power and Chubb companies.
This release includes "forward looking statements" that are subject to risks
and uncertainties. For information identifying economic, political, climatic,
currency, regulatory, technological, competitive and some other important
factors that could cause actual results to differ materially from those
anticipated in the forward looking statements, see UTC's SEC filings as updated
from time to time, including, but not limited to, the discussion included in the
Business section of UTC's Annual Report on Form 10-K under the headings "
General," "Description of Business by Segment" and "Other Matters Relating to
the Corporation's Business as a Whole" and the information included in UTC's
10-K and 10-Q reports under the heading "Management's Discussion and Analysis of
Financial Condition and Results of Operations."
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