Aames Announces Updated Preliminary Results of Cash and Stock Elections by Aames Stockholders in Connection with Accredited Merg
30 9์ 2006 - 10:03AM
Business Wire
Aames Investment Corporation (๏ฟฝAames๏ฟฝ) (NYSE: AIC), received an
update from U.S. Stock Transfer Corporation, the exchange agent in
connection with the merger of Aames with a subsidiary of Accredited
Home Lenders Holding Co. (๏ฟฝAccredited๏ฟฝ) (Nasdaq: LEND), with
respect to the preliminary results of the cash and stock elections
by Aames stockholders. Accordingly, the updated preliminary results
are as follows: Cash Elections: Elections to receive cash were made
with respect to approximately 39.5 million shares of Aames common
stock, of which approximately 4.0 million shares remain subject to
outstanding guarantees of delivery; Stock Elections: Elections to
receive Accredited common stock were made with respect to
approximately 23.1 million shares of Aames common stock, of which
approximately 0.3 million shares remain subject to outstanding
guarantees of delivery; These elections are subject to proration
and allocation provisions as described in the joint proxy statement
and prospectus mailed to stockholders of Aames in connection with
the September 14, 2006 special meeting of stockholders. Based on
these preliminary results of the elections and subject to
confirmation of the validity of elections made, the number of
failed guaranteed deliveries, whether the failed deliveries relate
to stock or cash elections and final proration calculations, the
merger consideration currently estimated to be paid to Aames
stockholders is as follows: Cash Elections: Aames stockholders who
validly elected cash would be expected to receive $4.8616 per share
for approximately 40% of their shares and 0.0936 of a share of
Accredited common stock for approximately 60% of their shares with
respect to which that election was made; Stock Elections: Aames
stockholders who validly elected to receive Accredited stock would
be expected to receive 0.0936 of a share of Accredited common stock
for each Aames share with respect to which that election was made;
and Non-Elections: Aames stockholders who did not make a valid
election would be expected to receive 0.0936 of a share of
Accredited stock for each of their shares. The final results of the
cash and stock elections, including the consideration to be
received by Aames stockholders who validly elected cash and those
who validly elected stock are expected to be announced by
Accredited on or about October 5, 2006. Further Information For
more information, contact Steven Canup, Senior Vice President,
Corporate Development and Investor Relations, in Aames Investment๏ฟฝs
Investor Relations Department at (323) 210-4709 or at
investorinfo@aamescorp.com via email. Alternatively, you may
contact Rick Howe, Director of Corporate Communications for
Accredited, at (858) 676-2148 or rhowe@accredhome.com. Aames
Investment Corporation ("Aames") (NYSE: AIC), received an update
from U.S. Stock Transfer Corporation, the exchange agent in
connection with the merger of Aames with a subsidiary of Accredited
Home Lenders Holding Co. ("Accredited") (Nasdaq: LEND), with
respect to the preliminary results of the cash and stock elections
by Aames stockholders. Accordingly, the updated preliminary results
are as follows: Cash Elections: Elections to receive cash were made
with respect to approximately 39.5 million shares of Aames common
stock, of which approximately 4.0 million shares remain subject to
outstanding guarantees of delivery; Stock Elections: Elections to
receive Accredited common stock were made with respect to
approximately 23.1 million shares of Aames common stock, of which
approximately 0.3 million shares remain subject to outstanding
guarantees of delivery; These elections are subject to proration
and allocation provisions as described in the joint proxy statement
and prospectus mailed to stockholders of Aames in connection with
the September 14, 2006 special meeting of stockholders. Based on
these preliminary results of the elections and subject to
confirmation of the validity of elections made, the number of
failed guaranteed deliveries, whether the failed deliveries relate
to stock or cash elections and final proration calculations, the
merger consideration currently estimated to be paid to Aames
stockholders is as follows: Cash Elections: Aames stockholders who
validly elected cash would be expected to receive $4.8616 per share
for approximately 40% of their shares and 0.0936 of a share of
Accredited common stock for approximately 60% of their shares with
respect to which that election was made; Stock Elections: Aames
stockholders who validly elected to receive Accredited stock would
be expected to receive 0.0936 of a share of Accredited common stock
for each Aames share with respect to which that election was made;
and Non-Elections: Aames stockholders who did not make a valid
election would be expected to receive 0.0936 of a share of
Accredited stock for each of their shares. The final results of the
cash and stock elections, including the consideration to be
received by Aames stockholders who validly elected cash and those
who validly elected stock are expected to be announced by
Accredited on or about October 5, 2006. Further Information For
more information, contact Steven Canup, Senior Vice President,
Corporate Development and Investor Relations, in Aames Investment's
Investor Relations Department at (323) 210-4709 or at
investorinfo@aamescorp.com via email. Alternatively, you may
contact Rick Howe, Director of Corporate Communications for
Accredited, at (858) 676-2148 or rhowe@accredhome.com.
Arlington Asset Investment (NYSE:AIC)
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