Cleco Corp. Announces Redemption of 4.5% Preferred Stock
May 23 2011 - 4:30PM
Marketwired
Cleco Corp. (NYSE: CNL) today announced that it has called for
redemption all 10,288 outstanding shares of its 4.5% Preferred
Stock. The redemption date for the 4.5% Preferred Stock is June 24,
2011, and the redemption price is $101.00 per share, plus accrued
and unpaid dividends to the redemption date, or $101.296 per share.
After Cleco deposits the aggregate redemption price in trust for
holders of the stock, all shares of the 4.5% Preferred Stock, as of
the redemption date, will no longer be deemed outstanding. Holders
will not be entitled to dividends and all rights of such holders as
shareholders of Cleco by reason of their ownership of such 4.5%
Preferred Stock (except their right to receive the redemption
price) will cease.
Cleco mailed the notice of redemption and related materials to
registered holders of the 4.5% Preferred Stock as of the close of
business on May 20, 2011.
In order to receive the redemption price, stock certificates
must be surrendered to the redemption agent, Computershare
Shareholder Services, by overnight delivery or certified mail at
the addresses set forth in the redemption form that accompanied the
notice of redemption.
Cleco Corp. is a regional energy company headquartered in
Pineville, La. It operates a regulated electric utility company,
Cleco Power LLC, which serves about 279,000 retail customers across
Louisiana. Cleco also operates a wholesale energy business, Cleco
Midstream Resources LLC. For more information about Cleco, visit
www.cleco.com.
Please note: This news release contains forward-looking
statements. Actual events and results may differ materially from
those projected. There are many risks and uncertainties with
respect to such forward-looking statements, including the risks and
uncertainties more fully described in Cleco's latest Annual Report
on Form 10-K and Quarterly Report on Form 10-Q.
Analyst Contact: Cleco Corporation Russell Davis (318)
484-7501 Russell.Davis@cleco.com Media Contact: Cleco
Corporation Susan Broussard (318) 484-7773
Cleco (NYSE:CNL)
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