Apple Press Release re: Calling Convertible Debentures
Well, here are the details! Very nice!
apple.com
Apple to Call Convertible Debentures
CUPERTINO, California—April 14, 1999—Apple Computer, Inc. today announced the
call for redemption on June 1, 1999 of all of its 6 percent convertible subordinated
debentures due June 1, 2001. Debentures in an aggregate principal amount outstanding
total approximately $661 million.
The redemption price is $1,024 plus accrued and unpaid interest of $30.00 from
December 1, 1998 to the redemption date, for a total of $1,054 for each $1,000 principal
amount of debentures.
As an alternative to redemption, holders of debentures have the option until 5:00 p.m.
Pacific Daylight Time on June 1, 1999 of converting their debentures into Apple
common stock at a conversion price of $29.205 per share. Each $1,000 principal amount
of debentures will be convertible into 34.2407 shares of Apple® common stock. Cash
will be paid in lieu of any fractional shares of Apple common stock upon conversion.
The details concerning terms and conditions of redemption or conversion will be more
fully described in a Notice of Redemption and Termination of Conversion Right to be
provided to the holders of the debentures.
Apple Computer, Inc. ignited the personal computer revolution in the 1970s with the
Apple II, and reinvented the personal computer in the 1980s with the Macintosh. Apple
is now recommitted to its original mission—to bring the best personal computing
products and support to students, educators, designers, scientists, engineers,
businesspersons and consumers in over 140 countries around the world.
Press Contact:
Rhona Hamilton
Apple Computer, Inc.
(408) 974-6439
hamilton@apple.com
Investor Relations Contact:
Nancy Paxton
Apple Computer, Inc.
(408) 974-5420
paxton1@apple.com |
