Newmont to Redeem $3.25 Convertible Preferred Stock
siliconinvestor.com
Newmont to Redeem $3.25 Convertible Preferred Stock
DENVER, Apr 12, 2002 /PRNewswire-FirstCall via COMTEX/ -- Newmont Mining Corporation (NYSE: NEM chart, msgs; ASX chart, msgs) (TSE: NMC chart, msgs) announced that it is calling for redemption all the issued and outstanding shares of Newmont $3.25 Convertible Preferred Stock (NYSE: NEM chart, msgs Pr chart, msgs) as of the close of business on May 15, 2002.
Pursuant to the terms of the Convertible Preferred Stock, Newmont will pay a redemption price of $50.325 per share, plus $0.8125 per share in respect of all dividends that will have accrued on the Convertible Preferred Stock at the redemption date. Newmont does not intend to declare, or fix a record date for the payment of, the regular cash dividend payable on May 15, 2002. As provided by the terms of the Convertible Preferred Stock, in settlement of the total redemption price of $51.1375 per share, Newmont will issue to holders of record of the Convertible Preferred Stock 1.9187 shares of its common stock, par value $1.60 per share, except that in lieu of any fractional share of common stock, Newmont will pay cash (calculated to the nearest cent) in an amount equal to $26.6525 multiplied by any fractional interest that otherwise would have been deliverable.
A redemption notice will be sent on April 15, 2002 to all holders of record of the Convertible Preferred Stock as of that date.
Newmont, based in Denver, is the world's premier gold company and the largest gold producer with significant assets on five continents. |
