Citation Stockholder Meeting Adjourned Until October 22, 1999.BIRMINGHAM, Ala.--(BUSINESS WIRE)--Oct. 7, 1999-- Citation Corporation (Nasdaq: CAST) today announced that it had convened and then adjourned its special meeting of stockholders until October 22, 1999. As described in the Company's October 6 news release, this action is being taken in order to allow Citation and Kelso & Company to continue their discussions concerning financing arrangements to be made by Kelso for the acquisition of Citation and, if necessary, to disseminate dis·sem·i·nate v. dis·sem·i·nat·ed, dis·sem·i·nat·ing, dis·sem·i·nates v.tr. 1. To scatter widely, as in sowing seed. 2. updated or revised proxy materials Proxy Materials Documents regulated by the Securities & Exchange Commission in which a public company outlines its methods and procedures. These documents are used to inform shareholders and solicit votes for corporate decisions, such as the election of directors and other to stockholders. The adjourned meeting will be reconvened on Friday, October 22, 1999, at 10:00 a.m., Central Time, at the offices of the Company in Birmingham, Alabama Birmingham (pronounced [ˈbɝmɪŋˌhæm]) is the largest city in the U.S. state of Alabama and is the county seat of Jefferson County. , unless canceled by Citation prior to such time. There can be no assurance that the discussions described above will be completed in time to allow the meeting to go forward On October 22, nor can there be any assurance that adequate financing arrangements will be made or that the transaction will be completed. Citation Corporation is a metal components supplier to capital and durable goods durable goods Goods, such as appliances and automobiles, that have a useful life over a number of periods. Firms that produce durable goods are often subject to wide fluctuations in sales and profits. Also called consumer durables. industries. The Company currently operates 20 manufacturing divisions in 10 states and employs more than 7,000 employees. Note: This press release contains certain 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. , which Citation Corporation is making in reliance on the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements as a result of a number of factors, including, but not limited to, the successful closing of the proposed transaction and risks associated with acquisitions generally. Certain of these risks and uncertainties are described in the Company's filings with the Securities and Exchange Commission. Any offering of securities in connection with the merger will be made only by means of a prospectus. |
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