Post Holdings Announces Redemption of 2.5% Series C Convertible Preferred Stock and Declares Dividend on Series C Convertible...
January 10 2019 - 8:00AM
Post Holdings, Inc. (NYSE:POST) (the “Company” or “Post”) today
announced it has given notice for the redemption of all outstanding
shares of the Company’s 2.5% Series C Cumulative Perpetual
Convertible Preferred Stock (CUSIP: 737446807) (the “Series C
Preferred Stock”).
Also, today Post announced its Board of Directors declared a
quarterly dividend of $0.625 per share on the Series C Preferred
Stock for the dividend period from the date of November 15, 2018 to
February 14, 2019. The dividend will be paid on February 15, 2019
to preferred shareholders as of the close of business on February
1, 2019.
The redemption date of the Series C Preferred Stock will be on
February 15, 2019 (the “Redemption Date”). The Series C Preferred
Stock will be redeemed at a redemption price equal to $100.00 per
share of Series C Preferred Stock, plus accrued and unpaid
dividends up to, but excluding, the Redemption Date (the
“Redemption Price”). With the payment of the quarterly dividend on
the Series C Preferred Stock described above, which will be paid on
the same date as the Redemption Date, the amount of accrued and
unpaid dividends on the Series C Preferred Stock will be $0.00 per
share, and the Redemption Price will be $100.00 per share. Unless
the Company defaults in making the payment of the Redemption Price,
the Series C Preferred Stock will no longer be deemed outstanding
and dividends on the Series C Preferred Stock will cease to accrue
on and after the Redemption Date.
Holders of Series C Preferred Stock may convert their shares of
Series C Preferred Stock at any time before 5:00 p.m., New York
City time, on February 14, 2019. Holders of Series C Preferred
Stock will no longer be able to exercise their conversion rights
after 5:00 p.m., New York City time, on February 14, 2019. Holders
of Series C Preferred Stock who wish to convert their Series C
Preferred Stock must satisfy the requirements set forth in Section
11 of the Series C Preferred Stock Certificate of Designation.
Holders of Series C Preferred Stock who wish to have their
shares of Series C Preferred Stock redeemed must surrender the
shares of Series C Preferred Stock to the Paying Agent to collect
the Redemption Price. The Company has designated Computershare
Trust Company, N.A. to act as the Paying Agent and Conversion
Agent. Questions regarding redemption of the Series C Preferred
Stock and conversion of the Series C Preferred Stock may be
directed to Computershare at the following address and telephone
numbers: Computershare Trust Company, N.A., 462 South 4th Street,
Suite 1600, Louisville, KY 40202, Attn: Corporate Action Team,
Telephone: 877-498-8861 in the United States or 312-360-5193
outside the United States.
This press release does not constitute a notice of redemption
under the Certificate of Designation governing the Series C
Preferred Stock and is qualified in its entirety by reference to
the redemption notice issued by or on behalf of the Company.
Cautionary Statement on Forward-Looking
Language
Forward-looking statements, within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, are made throughout this press release. These
forward-looking statements are sometimes identified from the use of
forward-looking words such as “believe,” “should,” “could,”
“potential,” “continue,” “expect,” “project,” “estimate,”
“predict,” “anticipate,” “aim,” “intend,” “plan,” “forecast,”
“target,” “is likely,” “will,” “can,” “may,” “would” or the
negative of these terms or similar expressions elsewhere in this
release. All forward-looking statements are subject to a number of
important factors, risks, uncertainties and assumptions that could
cause actual results to differ materially from those described in
any forward-looking statements. These factors and risks include,
but are not limited to, unanticipated developments that prevent,
delay or negatively impact the redemption and other financial,
operational and legal risks and uncertainties detailed from time to
time in the Company’s cautionary statements contained in its
filings with the Securities and Exchange Commission. These
forward-looking statements represent the Company’s judgment as of
the date of this press release. The Company disclaims, however, any
intent or obligation to update these forward-looking statements.
There can be no assurance that the proposed redemption or related
transactions will be completed as anticipated or at all.
Contact:Investor RelationsJennifer
Meyerjennifer.meyer@postholdings.com(314) 644-7665
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