UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 |
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Form 8-K |
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CURRENT REPORT |
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PURSUANT TO SECTION 13 or 15(d) OF THE |
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Date of Report (Date of earliest event reported) |
June 16, 2003 |
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PEPCO HOLDINGS, INC. |
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Delaware of incorporation) |
001-31403 |
52-2297449 Identification No.) |
701 Ninth Street, N. W., Washington, D. C |
20068 |
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Registrant's telephone number, including area code |
(202) 872-3526 |
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PEPCO HOLDINGS, INC |
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Item 5. |
Other Events .Pepco Holdings, Inc. (PHI) announced that it has discontinued all further new investment activity of its subsidiary, Potomac Capital Investment Corporation (PCI). PCI manages a portfolio of financial investments and strategic operating businesses. As a result, PHI intends to reduce staffing at PCI to a level necessary to maintain its corporate responsibilities, including managing existing investments, including its energy leveraged leases and a ten-story, 360,000 square foot office building in downtown Washington, D.C. (which serves as the corporate headquarters of PHI and its subsidiary Potomac Electric Power Company), paying all obligations and the previously disclosed disposition of its remaining aircraft as well as the disposition of marketable securities as required under the Securities and Exchange Commission order issued under the Public Utility Holding Company Act of 1935, as amended, approving the merger of Potomac Electric Power Company and Conectiv to form PHI. On August 1, 2003, PCI's strategic operating businesses, W. A. Chester and Severn Cable will be reorganized to become subsidiaries of Pepco Energy Services, Inc., another PHI subsidiary.
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Signatures
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PEPCO HOLDINGS, INC. |