BCP International Bank Limited Announces Redemption of Its 8% Non-Cumulative Guaranteed Exchangeable Preference Shares, Series A, Symbol: BPCPrA, Cusip: G09047 20 3.Business Editors LISBON, Portugal--(BUSINESS WIRE)--May 23, 2003 BCP BCP Best Current Practice(s) BCP Business Continuity Planning BCP Business Continuity Plan BCP Book of Common Prayer BCP Banco Comercial Português BCP Bureau of Consumer Protection (US Federal Trade Commission) International Bank Limited has today given notice that it intends to redeem all of its outstanding 8% Non-Cumulative Guaranteed Exchangeable Preference Shares, Series A (the "Shares") on June 30, 2003, at the redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. of U.S.$50.00 per share plus U.S. $1.00 per share representing dividends from March 31, 2003 to June 30, 2003. The rights of holders to exchange their Shares for ordinary shares of Banco Comercial Portugues, S.A. (the "Bank") or American Depositary Shares American Depositary Share (ADS) Foreign stock issued in the US and registered in the ADR system. ("ADSs") representing the Bank's ordinary shares will terminate at 5:00 pm (New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time) on June 23, 2003, unless BCP International Bank Limited or the Bank default in making the payment due upon redemption, in which event the right to require exchange shall continue up to and until the date upon which the redemption price is paid in full to The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. , in its capacity as redemption agent. Holders of Shares desiring to exchange their Shares must make timely delivery (on any business day) of the certificate representing the Shares to be exchanged and a duly signed and completed notice of exchange to the Tender & Exchange Department of The Bank of New York, located at 101 Barclay Street, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10286. Based on the current Exchange Price of $2.15, each Share validly tendered for exchange would be exchanged for either 23.2619 ordinary shares of the Bank or 4.6511 ADSs, at the option of the holder of tendering such Share for exchange. Holders of the Shares are also advised that the Bank is currently reviewing whether to maintain its foreign stock exchange listings and may decide to focus on its listing on the Euronext Lisbon Euronext Lisbon is a Portuguese stock exchange headquartered in Lisbon. It belongs to the NYSE Euronext group, the first global stock exchange. Euronext Lisbon trades equities, public and private bonds, participation bonds, warrants, corporate warrants, investment trust exchange, where the majority of trading in its ordinary shares takes place. In line with this policy, the Bank has publicly announced its intention to de-list its ADSs from 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. and to de-register its securities under the U.S. Securities Exchange Act of 1934. The Bank of New York is acting as redemption agent for purposes of redeeming the Shares. The Company will not set a record date for the final dividend payment. Holders of the Shares will be paid upon surrender of their Shares to the redemption agent. Certificates representing the Shares should be surrendered to the redemption agent at any of the following addresses for payment of the redemption price: -O- By Mail: By Hand or Overnight Courier: The Bank of New York The Bank of New York Tender & Exchange Department Tender & Exchange Department P.O. Box 11248 101 Barclay Street Church Street Station New York, NY 10286 New York, NY 10286-1248 Certificates surrendered for payment of the redemption price need not be endorsed. |
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