AptarGroup, Inc. Declares Quarterly Dividend, Replaces Rights Plan and Reports Termination of License Agreement.Business Editors CRYSTAL LAKE, Ill.--(BUSINESS WIRE)--Jan. 21, 2003 Company Also Announces Annual Meeting And Fourth Quarter Conference Call Information DIVIDEND The Board of Directors of AptarGroup, Inc. (NYSE NYSE See: New York Stock Exchange : ATR ATR Achilles tendon reflex, see Ankle reflex ) today declared a quarterly cash dividend of $.06 per share. The payment date is February 27, 2003, to stockholders of record as of February 5, 2003. RIGHTS PLAN AptarGroup also announced today that its Board of Directors adopted a stockholder rights plan to replace the existing rights plan upon its expiration in April 2003. Terms of this new rights plan are substantially similar to the expiring plan. Under the plan, AptarGroup will make a dividend of one preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. purchase right for each share of its common stock outstanding as of the close of business on April 7, 2003. Stockholders are not required to take any action to receive the rights distribution. The rights will expire in 10 years, unless earlier redeemed or exchanged by the Company. Carl A. Siebel, President and Chief Executive Officer, commented, "The rights plan is designed to preserve and maximize the value of the Company for stockholders by ensuring that stockholders receive fair and equal treatment in the event of an unsolicited takeover attempt Noun 1. takeover attempt - an attempt to take control of a corporation bear hug - a takeover bid so attractive that the directors of the target company must approve it or risk shareholder protest . We believe that the stockholder rights plan is an important tool for the Company." LICENSE AGREEMENT Valois S.A.S., a subsidiary of AptarGroup, Inc., today reported that a previously announced exclusive license agreement with Wyeth Pharmaceuticals, a division of Wyeth (NYSE:WYE), was terminated by Wyeth. The agreement related to Valois' "Combidose" intra-nasal drug delivery system for prophylactic and therapeutic human vaccines. The termination of the agreement enables Valois to offer this technology to other customers and does not have a material financial impact on the Company. ANNUAL MEETING The Board also announced that the 2003 Annual Meeting of Stockholders will be held at the offices of Sidley Austin Sidley Austin LLP, formerly known as Sidley Austin Brown & Wood LLP, is one of the oldest and most prestigious law firms in the world. It is the sixth-largest U.S.-based corporate law firm with over 1,700 lawyers, annual revenues of more than one billion dollars, and offices in 16 Brown & Wood, Bank One Plaza, 10 South Dearborn Street, 55th Floor Conference Room, Chicago, Illinois, on May 7, 2003, at 9:00 a.m. The record date for stockholders entitled to vote at the meeting is March 13, 2003. OPEN CONFERENCE CALL There will be a conference call on Thursday, February 13, 2003 at 8:00 a.m. CST CST abbr. 1. Central Standard Time 2. convulsive shock treatment CST Central Standard Time Noun 1. to discuss the Company's fourth quarter and annual results for 2002. The Company plans to announce its fourth quarter and annual results on Wednesday, February 12, 2003, after the close of trading on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . The call will last approximately one hour and feature remarks by Carl A. Siebel, President and Chief Executive Officer and Stephen J. Hagge, Executive Vice President and Chief Financial Officer. Interested parties are invited to listen to a live webcast by visiting the Investor Relations Investor relations The process by which the corporation communicates with its investors. page of the AptarGroup website at www.aptargroup.com. Replay of the conference call can also be accessed on the Investor Relations page of the website until 5:00 p.m. CST on March 12, 2003. AptarGroup, Inc. is a leading global supplier of a broad range of innovative dispensing systems for the fragrance/cosmetic, personal care, pharmaceutical, household and food/beverage markets. AptarGroup is headquartered in Crystal Lake, Illinois Crystal Lake is a city located in southeastern McHenry County in northeastern Illinois. It is named after Crystal Lake, a 230 acre (1 km²) lake 1.6 miles (2.6 km) west-southwest of downtown. The population was 38,000 at the 2000 census. , with manufacturing facilities in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, Asia and South America. For more information, visit the AptarGroup web site at www.aptargroup.com. |
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