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Show Page Industrial Power Equipment..................................................................... 29 International.......................................................................................................... 30 General Electric Credit Corporation....................................................................... 31 Orders Backlog......................................................................................................... 31 Research and Development..................................................................................... 32 Expansion of Facilities............................................................................................. 32 Employee Relations................................................................................................. 32 Legal Proceedings.................................................................................................... 33 Management of General Electric.................................................................................... 34 Directors................................................................................................................... 34 Principal Executive Officers..................................................................................... 36 Remuneration of Directors and Officers.................................................................. 36 Retirement Benefits.................................................................................................. 38 Stock Options........................................................................................................... 39 Transactions with Directors, Officers and Others.................................................... 40 Description of Capital Stock of General Electric............................................................ 41 Business of Utah.............................................................................................................. 42 Mining...................................................................................................................... 44 Coal.......................................................................................................................... 45 Coking Coal.............................................................................................................. 46 Steam Coal............................................................................................................... 48 Uranium................................................................................................................... 50 Copper...................................................................................................................... 53 Iron Ore.................................................................................................................... 55 Ocean Shipping........................................................................................................ 58 Oil and Gas............................................................................................................... 59 Land Acquisition and Development....................................................................... 61 Competitive Conditions........................................................................................... 62 Employee Relations................................................................................................ 62 Environmental Matters............................................................................................ 63 Pending Legal Proceedings..................................................................................... 63 Management of Utah...................................................................................................... 65 Directors................................................................................................................... 65 Principal Executive Officers..................................................................................... 66 Remuneration and Other Transactions with Directors and Officers...................... 67 Description of Capital Stock of Utah.............................................................................. 68 Experts.............................................................................................................................. 68 Additional Information................................................................................................. 68 Index to Financial Statements......................................................................................... F-1 Annex I Agreement and Plan of Reorganization, dated as of April 1, 1976, by and among General Electric Company, GESUB of Delaware, Inc. and Utah International Inc. Annex II Amendment, dated as of August 13, 1976, to the Agreement and Plan of Reorganization Annex III Opinion of Morgan Stanley & Co. Incorporated Annex IV Opinion of Lehman Brothers Incorporated Annex V Opinion of Dean Witter & Co. Incorporated ii GENERAL ELECTRIC COMPANY UTAH INTERNATIONAL INC. JOINT PROXY STATEMENT FOR SPECIAL MEETINGS OF STOCKHOLDERS TO BE HELD December 15, 1976 October 29, 1976 This Joint Proxy Statement is being furnished to share owners of General Electric Company, a New York corporation ("General Electric"), and to stockholders of Utah International Inc., a Delaware corporation ("Utah"), in connection with the solicitation of proxies by the managements of General Electric and Utah for use at their respective special meetings of stockholders to be held on December 15, 1976 and at any adjournments thereof for the purpose of considering and voting upon the matters set forth in their respective notices of special meetings. The first date on which this Joint Proxy Statement and forms of proxies are being sent to stockholders of General Electric and Utah is on or about October 29, 1976. The Board of Directors of General Electric has fixed the close of business on October 29, 1976 as the record date for the determination of holders of shares of common stock of General Electric entitled to vote at the special meeting of General Electric's share owners. As of September 20, 1976 there were 184,748,732 shares of common stock, par value $2.50 per share, of General Electric ("GE Common Stock") outstanding (excluding treasury shares), entitled to one vote per share on each matter submitted to a vote at the meeting. The Board of Directors of Utah has fixed the close of business on October 29, 1976 as the record date for the determination of the holders of shares of common stock of Utah entitled to vote at the special meeting of Utah's stockholders. As of September 30, 1976, there were 31,540,032 shares of common stock, par value $2 per share, of Utah ("Utah Common Stock") outstanding (excluding treasury shares), entitled to one vote per share on each matter submitted to a vote at the meeting. All shares represented by properly executed proxies will, unless such proxies have previously been revoked, be voted at the respective meetings in accordance with the directions on the proxies. If no direction is indicated, the shares will be voted in favor of all proposals set forth in the respective notices of special meetings. If any other matters are properly presented to the respective meetings for action, it is intended that the persons named in the respective proxies and acting thereunder will vote in accordance with their best judgment on such matters. A stockholder executing and returning a proxy has the power to revoke it at any time before it is voted. General Electric and Utah will each bear the costs of its solicitation of proxies. These costs will include printing and distribution expenses, presently estimated to aggregate approximately $1,570,000, of which General Electric will bear $1,413,000 and Utah will bear the remainder. In addition to the use of the mails, proxies may be solicited by personal interview, telephone and telegram by the respective directors, officers and employees of each company. Arrangements may also be made with brokerage houses and other custodians, nominees and fiduciaries for the forwarding of solicitation material to the beneficial owners of stock held of record by such persons, and General Electric and Utah may reimburse such custodians, nominees and fiduciaries for reasonable out-of-pocket expenses incurred by them in connection therewith. In addition, Georgeson & Co. and D. F. King & Co., Inc. have been engaged to solicit proxies for General Electric and Utah, respectively. The anticipated fees of such proxy solicitors are $15,000 and $6,000, respectively, plus costs and expenses. All information contained in this Joint Proxy Statement with respect to General Electric and Utah was supplied by General Electric and Utah, respectively, for inclusion herein. . |
