Ocwen revises record date for distribution of Altisource shares

By Lisa Kerner

Charlotte, N.C., July 23 - Ocwen Financial Corp. rescheduled the record date for its distribution of Altisource Portfolio Solutions SA common shares to Aug. 4 from July 30.

The distribution date of Aug. 10 remains the same, according to an Ocwen news release.

As previously reported, Ocwen shareholders will receive a pro rate distribution of one share of Altisource for every three shares of Ocwen common stock held as of the record date.

The distribution includes holders of Ocwen's 3.25% contingent convertible unsecured senior notes due 2024 on an as-if-converted basis, the release said.

As of July 15, there were 67,512,096 shares of Ocwen common stock issued and outstanding, said the company.

Ocwen said previously its shares of common stock will continue to trade "regular way" on the New York Stock Exchange through the period leading up to the record date.

Altisource shares are expected to begin trading on the Nasdaq Global Select Market beginning on Aug. 10.

Based in West Palm Beach, Fla., Ocwen is an asset manager and business process outsourcing provider to the financial services industry that specializes in loan servicing, mortgage fulfillment and receivables management services.

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