Choctaw Resort Development Enterprise Announces Results of Tender Offer and Consent Solicitation.CHOCTAW, Miss. -- Choctaw Resort Development Enterprise (the "Enterprise"), a business enterprise of The Mississippi Band of Choctaw Indians, a federally recognized Indian Tribe INDIAN TRIBE. A separate and distinct community or body of the aboriginal Indian race of men found in the United States. 2. Such a tribe, situated within the boundaries of a state, and exercising the powers of government and, sovereignty, under the national (the "Tribe") announced today the results to date of its previously announced cash tender offer (the "Offer") and consent solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with (the "Solicitation") for its 9-1/4% Senior Notes due 2009 (CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. No. 17037NAB6) (the "Notes"). As of 5:00 p.m., Eastern time, on October 22, 2004, which was the deadline for holders to submit tenders in order to receive the consent payment in connection with the Offer, tenders had been received for $195,775,000 in aggregate principal amount of the Notes, representing approximately 97.89% of the outstanding Notes. Accordingly, the required consents to adopt the proposed amendments, including the amendments to the change of control provisions, to the indenture relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Notes have been received. The proposed amendments, however, will become operative when the Notes are accepted and payment is made pursuant to the terms of the Offer. The Offer is scheduled to expire at 12:00 midnight, Eastern time, on November 10, 2004 (the "Expiration Date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. "), unless extended or earlier terminated. Holders validly tendering Notes after 5:00 p.m., Eastern time, on October 22, 2004, but prior to the Expiration Date will not be eligible to receive the consent payment of $30.00 per $1,000 principal amount of Notes. The Offer is subject to the satisfaction of certain conditions, including, but not limited to, the condition that all necessary approvals have been obtained from the Tribe and the Enterprise and the condition that appropriate financing is obtained. The terms of the Offer and the Solicitation are described in the Enterprise's Offer to Purchase and Consent Solicitation Statement dated October 8, 2004, copies of which may be obtained from Global Bondholder Services Corporation, the information agent for the Offer, at 866-294-2200 (US toll free) and 212-430-3774 (collect). The Enterprise has engaged Banc of America Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control to act as the exclusive dealer manager and solicitation agent in connection with the Offer and the Solicitation. Questions regarding the Offer and the Solicitation may be directed to Banc of America Securities LLC, High Yield Special Products, at 888-292-0070 (U.S. toll-free) and 704-388-9217 (collect). This announcement is for information purposes only and is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consents with respect to any securities. The Offer is being made solely by the Offer to Purchase and Consent Solicitation Statement dated October 8, 2004. Company Information The Mississippi Band of Choctaw Indians established the Choctaw Resort Development Enterprise to operate the Silver Star Hotel and Casino and to develop and operate the Golden Moon Hotel and Casino. The Enterprise markets the Silver Star and the Golden Moon, together with related amenities, as the Pearl River Pearl River, uninc. village (1990 pop. 15,314), Rockland co., SE N.Y., near the N.J. line. It is a residential suburb of New York City, and a computer and telecommunications research and development center. Pearl River River, central Mississippi, U. Resort. The Pearl River Resort is located on the Tribe's 35,000 acre reservation situated primarily in east central Mississippi. Forward-Looking Statements 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. Certain information included in this release and other materials filed or to be filed by the Enterprise with the Securities and Exchange Commission contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934. Such statements include information relating to plans for future expansion and other business development activities as well as other capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. , financing sources and the effects of regulation (including gaming and tax regulation) and competition. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of the Enterprise. These risks and uncertainties include, but are not limited to, those relating to development and construction activities, dependence on existing management, leverage and debt service, domestic or global economic conditions, pending litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , changes in federal tax laws or the administration of such laws and changes in gaming laws or regulations (including the legalization LEGALIZATION. The act of making lawful. 2. By legalization, is also understood the act by which a judge or competent officer authenticates a record, or other matter, in order that the same may be lawfully read in evidence. Vide Authentication. of gaming in certain jurisdictions). |
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