Airland Corp. announces notice of record date and payment date for special distribution.MOBILE, Ala.--(BUSINESS WIRE)-- April 19, 1995--Airland Corporation released the following information today: -0-
AIRLAND CORPORATION
P.O. Box 2903
Mobile, Ala. 36652
334/432-3400 or
205/432-3400
Bondholder Distribution Agent
under
FINANCIAL CORPORATION OF SANTA BARBARA
Plan of Reorganization confirmed by
the United States Bankruptcy Court for the
District of California (No. LA90-23257-NRR)
Re: Santa Barbara Savings and Loan Association
and
Financial Corporation of Santa Barbara
9% Convertible Subordinated Debentures
Due 2012
CUSIP NO. 801380AH9
NOTICE OF RECORD DATE AND
PAYMENT DATE FOR SPECIAL DISTRIBUTION
Record Date: May 1, 1995
Payment Date: May 23, 1995
Total Distribution: $ 5,131,560
Airland Corporation, as the distribution agent (the "Agent") for the holders for the above referenced Debentures, has established a special payment date of May 23, 1995 (the "Payment Date") for the initial payment on the Debentures pursuant to a Chapter 11 Plan of Reorganization (the "Plan") of Financial Corporation of Santa Barbara Santa Barbara (săn'tə bär`brə, –bərə), city (1990 pop. 85,571), seat of Santa Barbara co., S Calif., on the Pacific Ocean; inc. 1850. , Debtor, confirmed by the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. for the Central District of California (Case No. LA90-23257-NRR). The special record date for determining Debenture debenture (dəbĕn`chər), document acknowledging indebtedness. In Great Britain a debenture is practically the same as a bond, and debenture stock is similar to preferred stock. holders entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to receive such payment is May 1, 1995 (the "Record Date"). On the Payment Date, the Agent will distribute an aggregate amount of $610.90 per each $1,000 par value of outstanding Debentures to the registered owners Registered Owner An individual or organization to whom certificates are directly issued and who, as a result, is recorded on the corporation's securityholder records (as maintained by the transfer agent). of the Debentures as of the Record Date (the "Registered Owners"). This payment represents the first distribution of monies by the Agent since the Plan was confirmed on March 31, 1995. In order to receive a distribution on the Payment Date, Registered Owners must physically present certificates representing the Debentures to the Agent so that it may affix affix v. 1) to attach something to real estate in a permanent way, including planting trees and shrubs, constructing a building, or adding to existing improvements. certain legends and an allonge Additional paper firmly attached to Commercial Paper, such as a promissory note, to provide room to write endorsements. An allonge is necessary when there is insufficient space on the document itself for the endorsements. thereto indicating that a payment has been made. Debentures surrendered for payment will be returned to the Registered Owners, together with payment of the distribution amount at the return address indicated by such Registered Owner or, in the absence of any such address, to the address of such Bondholder Bondholder A firm often has stockholders and bondholders. In a liquidation, the bondholders have first priority. bondholder An individual or institution that owns bonds in a corporation or other organization. as shown on the records of the indenture An agreement declaring the benefits and obligations of two or more parties, often applicable in the context of Bankruptcy and bond trading. The term indenture primarily describes secured contracts and has several applications in U.S. law. trustee on the Record Date. Debentures should be surrendered for payment, by mail or hand delivery at the following addresses: -0-
Mail Delivery: Physical Delivery:
-------------- ------------------
Airland Corporation Airland Corporation
P.O. Box 2903 56 St. Frances St.
Mobile, Ala. 36652 Mobile, Ala. 36602
Attn: Matthew Metcalfe Attn: Matthew Metcalfe
It is suggested that if Debenture certificates are not surrendered in person, they should be sent by certified or registered mail, return receipt requested, or some other secure means. Failure of a Registered Owner to present its Debenture certificate for payment or to cash a distribution check within 180 days of the Payment Date will result in a forfeiture The involuntary relinquishment of money or property without compensation as a consequence of a breach or nonperformance of some legal obligation or the commission of a crime. The loss of a corporate charter or franchise as a result of illegality, malfeasance, or Nonfeasance. of this distribution pursuant to Section 4.3 of the Plan of Reorganization. Consequently, certificates must be presented and distribution checks cashed on or before Nov. 20, 1995. The Agent will make payment to the order of each Registered Owner exactly as its name (or names) is (are) shown on the face of the Debenture certificate. Consequently, if any Debenture or denomination Denomination The stated value found on financial instruments. Notes: This term applies to most financial instruments with monetary values. The denomination for bonds and securities would be face value or par value. thereof is transferred and registered in the name of a subsequent holder after the Record Date and before presentation for payment, the Agent, upon presentation, will not make payment to the person(s) shown as Registered Owner(s) on the Record Date but rather will make payment to the person(s) in whose name(s) the Debenture certificate is (are) registered. CONTACT: Airland Corp., Mobile Matthew Metcalfe Phone: 334/432-2600 or 205/432-2600 |
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