Continental Global Group, Inc. Announces Expiration of Tender For 11% Series B Senior Notes Due 2007.Business/Technology Editors WINFIELD, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. .--(BUSINESS WIRE)--May 15, 2001 Continental Global Group, Inc. announced the 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 its tender offer to purchase for cash up to $48,000,000, or 40%, of its outstanding 11% Series B Senior Notes Due 2007 for a consideration of $425 in cash, plus accrued ac·crue v. ac·crued, ac·cru·ing, ac·crues v.intr. 1. To come to one as a gain, addition, or increment: interest accruing in my savings account. 2. and unpaid interest on the Notes to their date of purchase, for each $1,000 principal amount of Notes. The principal amount of Notes tendered was not sufficient to meet the previously announced 30% minimum condition, as set forth in the Offer to Purchase, dated April 3, 2001 (filed with the Securities and Exchange Commission on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. ) as amended in the Supplement to the Offer to Purchase dated April 30, 2001. As a result, the Company has decided not to accept the tendered Notes for payment. Continental Global Group, Inc. is a leading worldwide manufacturer and distributor of bulk material handling and replacement conveyor Conveyor A horizontal, inclined, declined, or vertical machine for moving or transporting bulk materials, packages, or objects in a path predetermined by the design of the device and having points of loading and discharge fixed or selective. equipment, primarily for use in the mining industries. |
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