Mueller Water Products Announces Stockholder Approval of Conversion of Series B Common Stock Into Series A Common Stock
January 28 2009 - 12:14PM
PR Newswire (US)
ATLANTA, Jan. 28 /PRNewswire-FirstCall/ -- Mueller Water Products,
Inc. (NYSE:MWA.BNYSE:MWA) announced that its stockholders approved
a proposal to simplify the Company's capital structure by
converting its Series B common stock (NYSE:MWA.B) into its Series A
common stock (NYSE:MWA) pursuant to a provision for that conversion
in the Company's Restated Certificate of Incorporation. As a result
of the conversion, each outstanding share of Series B common stock
will be converted into one share of Series A common stock. Trading
of the Series B common stock on the New York Stock Exchange is
expected to cease prior to the open of trading on January 29, 2009.
All stockholders will have the same economic ownership of Mueller
Water Products that they had prior to the conversion. Each share of
common stock will be entitled to one vote. Class B stockholders had
eight votes per share under the dual-class structure, which was
established prior to Mueller Water Products' 2006 initial public
offering. About Mueller Water Products Mueller Water Products is a
leading North American manufacturer and marketer of infrastructure
and flow control products for use in water distribution networks
and treatment facilities. Its broad product portfolio includes
engineered valves, hydrants, ductile iron pipe and pipe fittings,
which are used by municipalities, as well as the residential and
non- residential construction, oil and gas, HVAC and fire
protection industries. With latest 12 months net sales of $1.9
billion, the Company is comprised of three operating segments:
Mueller Co., U.S. Pipe and Anvil. Based in Atlanta, Georgia, the
Company employs approximately 6,500 people. Mueller Water Products
Series B common stock and Series A common stock trade on the New
York Stock Exchange under the ticker symbols MWA.B and MWA,
respectively. For more information about Mueller Water Products,
please visit the Company's Web site at
http://www.muellerwaterproducts.com/. -MWA- Investor Contact:
Martie Edmunds Zakas Sr. Vice President - Strategic Planning &
Investor Relations 770-206-4237 Media Contact: John Pensec Director
- Corporate Communications and Public Affairs 770-206-4240
DATASOURCE: Mueller Water Products, Inc. CONTACT: Investors: Martie
Edmunds Zakas, Sr. Vice President - Strategic Planning &
Investor Relations, +1-770-206-4237, ; Media: John Pensec, Director
- Corporate Communications and Public Affairs, +1-770- 206-4240,
Web site: http://www.muellerwaterproducts.com/
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