Popular Announces Voluntary Delisting of its Preferred Stock from the Nasdaq
September 18 2009 - 8:16AM
PR Newswire (US)
SAN JUAN, Puerto Rico, Sept. 18 /PRNewswire-FirstCall/ -- Popular,
Inc. (the "Corporation") (NASDAQ:BPOP) today announced that it will
delist its 6.375% Non-cumulative Monthly Income Preferred Stock,
2003 Series A (NASDAQ: BPOPO) and 8.25% Non-cumulative Monthly
Income Preferred Stock, Series B (NASDAQ:BPOPP) (together, the
"Preferred Stock") from the Nasdaq. On September 18, 2009, the
Company provided written notice to The NASDAQ Stock Market (the
"Nasdaq") that the Company expects to voluntarily cease trading of
the Preferred Stock on the Nasdaq, effective October 8, 2009. The
Corporation has not arranged for listing and / or registration on
another national securities exchange or for quotation of the
Preferred Stock in a quotation medium. The Corporation initially
announced its intention to delist the Preferred Stock in an
exchange offer of its common stock for any and all outstanding
shares of the Preferred Stock (the "Exchange Offer"). The Exchange
Offer, which was conducted pursuant to a prospectus dated August 7,
2009, expired 11:59 p.m., New York City time, on August 20, 2009.
For more information, please visit
http://www.popular.com/investors. Founded in 1893, Popular, Inc.
(NASDAQ:BPOP) is the No. 1 bank by both assets and deposits in
Puerto Rico and ranks 33rd by assets among U.S. banks. In the
United States, Popular has established a community-banking
franchise providing a broad range of financial services and
products with branches in New York, New Jersey, Illinois, Florida
and California. Popular also continues to expand its expertise in
processing technology through its subsidiary EVERTEC, which
processes approximately 1.1 billion transactions annually in the
Caribbean and Latin America. Forward-Looking Statements: The
information included in this press release may contain certain
forward-looking statements. These statements are based on
management's current expectations and involve certain risks and
uncertainties that may cause actual results to differ materially
from those expressed in forward-looking statements. Factors that
might cause such a difference include, but are not limited to (i)
the rate of declining growth in the economy and employment levels,
as well as general business and economic conditions; (ii) changes
in interest rates, as well as the magnitude of such changes; (iii)
the fiscal and monetary policies of the federal government and its
agencies; (iv) changes in federal bank regulatory and supervisory
policies, including required levels of capital; (v) the relative
strength or weakness of the consumer and commercial credit sectors
and of the real estate markets in Puerto Rico and the other markets
in which borrowers are located; (vi) the performance of the stock
and bond markets; (vii) competition in the financial services
industry; (viii) possible legislative, tax or regulatory changes;
and (ix) difficulties in combining the operations of acquired
entities. For a discussion of such factors and certain risks and
uncertainties to which the Corporation is subject, see the
Corporation's Annual Report on Form 10-K for the year ended
December 31, 2008 as well as its filings with the U.S. Securities
and Exchange Commission. Other than to the extent required by
applicable law, including the requirements of applicable securities
laws, the Corporation assumes no obligation to update any
forward-looking statements to reflect occurrences or unanticipated
events or circumstances after the date of such statements. Contact:
Investor Relations: Jorge A. Junquera Chief Financial Officer
Senior Executive Vice President 787-754-1685 Media Relations:
Teruca Rullan Senior Vice President Corporate Communications
787-281-5170 or 917-679-3596 (mobile) DATASOURCE: Popular, Inc.
CONTACT: Jorge A. Junquera, Chief Financial Officer, Senior
Executive Vice President, +1-787-754-1685; or Teruca Rullan, Senior
Vice President, Corporate Communications, +1-787-281-5170, mobile,
+1-917-679-3596 Web site: http://www.popular.com/investors
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