United Industrial Corporation's 3.75% Convertible Senior Notes Due 2024 Can Be Surrendered for Conversion
04 10월 2006 - 7:00AM
PR Newswire (US)
HUNT VALLEY, Md., Oct. 3 /PRNewswire-FirstCall/ -- United
Industrial Corporation (NYSE:UIC) announced today that holders of
the 3.75% Convertible Senior Notes due 2024 ("Senior Notes") can
convert their Senior Notes into shares of UIC common stock during
the next calendar quarter from October 1, 2006 through December 31,
2006. A holder electing to convert Senior Notes will receive either
cash or 25.4863 shares of UIC common stock (or a combination of
cash and common stock) per $1,000 principal amount of Senior Notes.
Conversion is at the option of the holder. Payment in cash and/or
UIC common stock is at the option of UIC. This event is triggered
by UIC's stock price remaining above $47.09 (120 percent of the
initial conversion price) for at least 20 consecutive trading days
during the last 30 trading days of the quarter ended September 30,
2006. If the Senior Notes are converted into common stock, holders
will forfeit their right to receive 3.75% annual interest on the
Senior Notes and will instead be entitled to receive future
dividends (if any) on UIC common stock. Such dividends are
currently $0.40 per share per year, equivalent to an annual
dividend yield of 0.70% based on the closing stock price on
September 28, 2006. The procedures that holders must follow in
electing to convert their Senior Notes are set forth in the
Indenture and were included in a notice delivered to DTC by U. S.
Bank National Association, as trustee for the Senior Notes. United
Industrial Corporation designs, produces, and supports defense
systems. Its products and services include unmanned aircraft
systems, training and simulation systems, automated aircraft test
and maintenance equipment, armament systems, logistical and
engineering services, and other leading-edge technology solutions
for defense needs. The company also manufactures combustion
equipment for biomass and refuse fuels. For more information, visit
http://www.unitedindustrial.com/. Except for the historical
information contained herein, information set forth in this news
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Words such as
"expects," "anticipates," "intends," "plans," "believes,"
"estimates," and variations of such words and similar expressions
that indicate future events and trends are intended to identify
such forward-looking statements, which include, but are not limited
to, projections of revenues, earnings, segment performance, cash
flows, and contract awards. These forward-looking statements are
subject to risks and uncertainties, including without limitation,
program cancellations and changes in program funding, which could
cause the company's actual results or performance to differ
materially from those expressed or implied in such statements. The
company makes no commitment to update any forward- looking
statement or to disclose any facts, events, or circumstances after
the date hereof that may affect the accuracy of any forward-looking
statement. For additional information about the company and its
various risk factors, please see the company's most recent Annual
Report on Form 10-K and other documents as filed with the
Securities and Exchange Commission. DATASOURCE: United Industrial
Corporation CONTACT: Stuart F. Gray of UIC, +1-410-628-8686, Web
site: http://www.unitedindustrial.com/ Company News On-Call:
http://www.prnewswire.com/comp/113559.html
Copyright
United Industrial (NYSE:UIC)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
United Industrial (NYSE:UIC)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024
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