Capitol Bancorp Ltd. Extends Deadline for Acceptance of its Exchange Offers
September 30 2009 - 6:30PM
PR Newswire (US)
LANSING, Mich. and PHOENIX, Sept. 30 /PRNewswire-FirstCall/ --
Capitol Bancorp Ltd. (NYSE:CBC) (the "Corporation") today announced
that it has extended its pending offers to exchange any and all
issued and outstanding shares of Capitol Development Bancorp
Limited III, Capitol Development Bancorp Limited IV, Capitol
Development Bancorp Limited V and Capitol Development Bancorp
Limited VI (collectively, the "CDBLs") for units, consisting of
shares of Trust-Preferred Securities issued by Capitol Trust XII, a
Delaware statutory trust, and shares of the Corporation's Series A
Noncumulative Convertible Perpetual Preferred Stock (the "Exchange
Offers"). The exchange offers were previously scheduled to expire
at 11:59 p.m., Michigan time, on September 30, 2009, and have been
extended until 11:59 p.m., Michigan time, on October 7, 2009 for
Capitol Development Bancorp Limited IV, Capitol Development Bancorp
Limited V and Capitol Development Bancorp Limited VI and extended
until 11:59 p.m., Michigan time on October 14, 2009 for Capitol
Development Bancorp Limited III. This press release is for
informational purposes only and is not an offer to buy or the
solicitation of an offer to sell any securities. Solicitation of
offers to exchange shares of the CDBLs will only be made pursuant
to the effective registration statement that the Corporation will
file with the SEC. About Capitol Bancorp Limited Capitol Bancorp
Limited (NYSE:CBC) is a $5.6 billion national community banking
company, with a network of bank operations in 17 states. It is the
holder of the most individual bank charters in the country. Founded
in 1988, Capitol Bancorp Limited has executive offices in Lansing,
Michigan, and Phoenix, Arizona. Forward Looking Statement Certain
statements in this announcement contain forward-looking statements
that are based on management's expectations, estimates, projections
and assumptions. Words such as "expects," "anticipates," "plans,"
"believes," "scheduled," "estimates" and variations of these words
and similar expressions are intended to identify forward-looking
statements. Forward-looking statements are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995, as amended. These statements are not guarantees of
future performance and involve certain risks and uncertainties,
which are difficult to predict. Therefore, actual future results
and trends may differ materially from what is forecast in
forward-looking statements due to a variety of factors. All
forward-looking statements speak only as of the date of this press
release. All subsequent written and oral forward-looking statements
attributable to the company or any person acting on the
Corporation's behalf are qualified by the cautionary statements in
this press release. The Corporation does not undertake any
obligation to update or publicly release any revisions to
forward-looking statements to reflect events, circumstances or
changes in expectations after the date of this press release.
DATASOURCE: Capitol Bancorp Ltd. CONTACT: Michael M. Moran, Chief
of Capital Markets, +1-877-884-5662; Stephanie Swan, Director of
Shareholder Services, +1-517-487-6555 Web Site:
http://www.capitolbancorp.com/
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