Atlas Air Worldwide Holdings, Inc. Announces Stockholder Rights Plan.Business Editors PURCHASE, N.Y.--(BUSINESS WIRE)--June 19, 2001 Atlas Air Atlas Air is an American cargo airline based in Purchase, New York, United States. It operates scheduled freight flights on an ACMI contract basis for some of the world's leading airlines, flying to 101 cities in 46 countries. Worldwide Holdings, Inc. announced today that its Board of Directors declared a dividend distribution of Rights, which are designed to ensure that stockholders receive better value and equitable treatment in the event of an unsolicited proposal to acquire control of the Company. One Right to purchase one one-thousandth of a share of a new series of junior 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. will be issued to Atlas Air Worldwide Holding's stockholders for each share of the Company's common stock held as of the close of business on July 2, 2001. On May 31, 2001, Atlas Air Worldwide Holdings had outstanding 38,229,422 shares of common stock. Each Right will entitle 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: holders thereof to purchase one one-thousandth of a share of junior preferred stock at an exercise price of $115 per share, subject to adjustment. The Rights will be exercisable, and will detach de·tach v. 1. To separate or unfasten; disconnect. 2. To remove from association or union with something. from the respective shares of common stock, only if a person or group acquires common stock and/or other voting capital stock of the Company which has 20% or more of the voting power of all outstanding capital stock of the Company, or announces a tender or exchange offer that, if consummated, will result in a person or group beneficially owning any such capital stock of the Company which has 20% or more of the voting power of all outstanding capital stock of the Company. In the event that a person or group acquires capital stock of the Company that has 20% or more of the voting power of all outstanding capital stock of the Company, each Right will entitle the holder (other than such acquiring person or group) to purchase Atlas Air Worldwide Holdings common stock with a value of $230, subject to adjustment. Atlas Air Worldwide Holdings will generally be entitled to redeem the Rights at $.001 per Right at any time prior to the close of business on the tenth business day after the Rights become exercisable. The Rights expire at the close of business on July 2, 2011. The Rights are not being distributed in response to any specific effort to acquire control of the Company, and the Board is not aware of any such effort. Details of the Rights and the related Rights Agreement are outlined in materials that are being mailed to all stockholders. Atlas Air Worldwide Holdings, Inc. (NYSE NYSE See: New York Stock Exchange :CGO CGO Cargo CGO Code Generation and Optimization CGO Cogeco Inc (stock symbol) CGO Zhengzhou, China (Airport Code) CGO Chief Globalization Officer CGO Company Grade Officer ) is the holding company of Atlas Air, Inc., a 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. certificated air carrier that operates a fleet of Boeing 747 freighters under ACMI ACMI Aircraft, Crew, Maintenance and Insurance (wet lease) ACMI Art & Creative Materials Institute ACMI Air Combat Maneuvering Instrumentation ACMI American College of Medical Informatics ACMI Australian Center for the Moving Image contracts. These contracts include the provision by Atlas Air of the Aircraft, Crew, Maintenance and Insurance for some of the world's leading international carriers. |
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