Kaiser Aluminum Corporation Announces Filing of Shelf Registration Statement for VEBA Trust
April 02 2010 - 9:00AM
Kaiser Aluminum Corporation (Nasdaq:KALU) today announced the
filing of a shelf registration statement covering the possible sale
from time to time by a voluntary employees' beneficiary association
(VEBA) trust of up to 4,392,265 shares of Kaiser Aluminum's common
stock. The shares being registered were distributed by Kaiser
Aluminum to the VEBA trust when the Company emerged from chapter 11
bankruptcy in July 2006. The filing of the registration
statement by Kaiser Aluminum was made in response to a demand by
the VEBA trust under a registration rights agreement entered into
by Kaiser Aluminum and the VEBA trust in July 2006.
Pursuant to a stock transfer restriction agreement that Kaiser
Aluminum entered into with the trustee of the VEBA trust in July
2006, the VEBA trust may not sell more than 1,321,485 shares of
Kaiser Aluminum's common stock in any 12-month period without
consent of Kaiser Aluminum's board of directors. Currently,
under these restrictions, the VEBA trust is limited to the sale of
868,285 shares prior to March 24, 2011.
The registration statement relating to these securities has been
filed with the Securities and Exchange Commission, but has not yet
become effective. These securities may not be sold nor may offers
to buy be accepted prior to the time the registration statement
becomes effective. You may obtain a copy of the prospectus
included in the registration statement from the Securities and
Exchange Commission's website at
http://www.sec.gov. Alternatively, you may obtain a copy of
the prospectus included in the registration statement by writing
Kaiser Aluminum at the following address: Investor Relations
Department, Kaiser Aluminum Corporation, 27422 Portola Parkway,
Suite 200, Foothill Ranch, California, 92610-2831.
Kaiser Aluminum Corporation, headquartered in Foothill Ranch,
Calif., is a leading producer of semi-fabricated specialty aluminum
products, serving customers worldwide with highly-engineered
solutions for aerospace and high-strength, general engineering, and
custom automotive and industrial applications. The Company's North
American facilities produce value-added sheet, plate, extrusions,
forgings, rod, bar and tube products.
The Kaiser Aluminum Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6081
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by the use of forward-looking
terminology such as "expects," "may" or "will" or the negative of
the foregoing or other variations or comparable terminology, or by
discussions of strategy or intentions. These statements are
based on the beliefs and assumptions of Kaiser Aluminum's
management based on information available to management at the time
such statements are made. Readers are cautioned that any such
forward-looking statements are not guarantees of future performance
or events and involve significant risks and uncertainties, and that
actual results or events may vary materially from those in the
forward-looking statements as a result of various
factors. These factors include (a) conditions in the capital
markets; (b) general economic and business conditions,
including conditions in the aerospace and other end markets Kaiser
Aluminum serves; (c) changing prices and market conditions; and (d)
other factors summarized in Kaiser Aluminum's reports filed with
the Securities and Exchange Commission, including Kaiser Aluminum's
Annual Report on Form 10-K for the fiscal year ended December 31,
2009 and Current Report on Form 8-K filed with the Securities and
Exchange Commission on March 29, 2010. Kaiser Aluminum does
not know when or in what amounts the VEBA trust may sell shares of
its common stock, and, subject to the terms of the stock transfer
restriction agreement described above, the VEBA trust will act
independently of Kaiser Aluminum in making decisions with respect
to the timing, manner and size of such sales. All information
in this release is as of the date of the release. Kaiser
Aluminum undertakes no duty to update any forward-looking statement
to conform the statement to actual results or events or changes in
its expectations.
CONTACT: Kaiser Aluminum Corporation
Investor Relations Contact:
Melinda C. Ellsworth
(949) 614-1757
FD
Public Relations Contact:
Dave Quast
(646) 421-5341
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