Carlyle Statement on United Defense Industries Share Ownership.Business Editors WASHINGTON--(BUSINESS WIRE)--Sept. 24, 2003 Global private equity firm, The Carlyle Group  The of this article or section may be compromised by "weasel words".You can help Wikipedia by removing weasel words. The Carlyle Group is a Washington, D.C. , today issued the following statement regarding its ownership of shares in United Defense Industries. Several recent news articles implied that The Carlyle Group has plans to sell its remaining shares in United Defense Industries. This is incorrect. Statements made by a Carlyle official were taken out of context. At this time, Carlyle has no present intention to sell any shares in United Defense and is not able to do so until expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of a lock-up agreement Lock-Up Agreement A legally binding contract between the underwriters and insiders of a company prohibiting these individuals from selling any shares of stock for a specified period of time. on October October: see month. 29, 2003. As a financial investor, Carlyle continually con·tin·u·al adj. 1. Recurring regularly or frequently: the continual need to pay the mortgage. 2. evaluates its alternatives with respect to all of its investments and eventually exits each of its investments, though at this time Carlyle has no present intention to exit its investment in United Defense. Following expiration of the existing lock up agreement, Carlyle may retain its stake in United Defense or may, from time to time, sell all or part of its shares in United Defense, depending on the prevailing market conditions and other factors. |
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