Alfred I. duPont Testamentary Trust Sells 6.0 Million Shares of St. Joe Common Stock.Business Editors JACKSONVILLE, Fla.--(BUSINESS WIRE)--Feb. 11, 2004 The St. Joe Company The St. Joe Company (NYSE: JOE)is a land development company and Florida's largest private landowner, owning about 805,000 acres (0 km) in the state [1]. (NYSE NYSE See: New York Stock Exchange :JOE) and its principal shareholder, the Alfred I. duPont Testamentary Trust testamentary trust n. a trust created by the terms of a will. Example: "The residue of my estate shall form the corpus (body) of a trust, with the executor as trustee, for my children's health and education, which shall terminate when the last child attains the age (the Trust), announced today the sale of 6.0 million shares of St. Joe common stock by the Trust. The common stock was sold in an underwritten offering Underwritten offering A purchase and sale. to the public at $39.20 per share. The closing of the transaction is scheduled for Friday, February 13, 2004. The offering was made pursuant to a shelf registration statement that was filed on December 31, 2003. St. Joe did not receive any proceeds from the sale of shares by the Trust. The underwriters were Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. and Legg Mason. As a result of this transaction the Trust and its primary beneficiary, The Nemours Foundation, together now own 17,926,165 shares, or approximately 23.6 percent, of the outstanding common stock of St. Joe. The St. Joe Company The St. Joe Company, a publicly held company based in Jacksonville, is one of Florida's largest real estate operating companies. It is engaged in community, resort, commercial and industrial real estate development, land sales and commercial real estate services. The St. Joe Company also has significant interests in timber. Alfred I. duPont Testamentary Trust The Alfred I. duPont Testamentary Trust was established under the Last Will and Testament of Alfred I. duPont. Mr. duPont was a descendant of the Delaware family that founded E.I. duPont de Nemours & Company. The Trust was formed to provide testamentary dispositions to persons named in the Will and to benefit The Nemours Foundation. The Nemours Foundation is a charitable foundation which provides for the care and treatment of disabled children and the elderly. Forward-Looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are made as of the date hereof based upon current expectations, and we undertake no obligation to update the information in this release. Forward-looking statements involve risk and uncertainty, and there can be no assurance that the results described in such forward-looking statements will be realized. Risk factors that may cause the actual results to differ materially from that suggested by any forward-looking statement contained in this press release are described in documents we file from time to time with the Securities and Exchange Commission, including the Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2002 and the registration statement on Form S-3 filed December 31, 2003. Copyright 2004, The St. Joe Company. "St. Joe" and the "taking flight" logo are registered service marks of The St. Joe Company. |
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