Duke Realty Corporation Announces Redemption of Series D Preferred Shares.Business Editors/Real Estate Writers INDIANAPOLIS--(BUSINESS WIRE)--Feb. 13, 2004 Duke Realty Corporation (NYSE NYSE See: New York Stock Exchange :DRE DRE Digital rectal examination. Mentioned in: Rectal Examination ) announced today that it has called for redemption all of its outstanding 7.375% Series D Convertible Cumulative Redeemable Preferred Shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. , par value $.01 per share, and all of the Depositary Shares representing such Series D Preferred Shares (NYSE:DREPRD) (CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. No.: 264411877). The redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. is March 16, 2004. The cash 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. for the Series D Preferred Shares is $250.00 per share, which is equivalent to a cash redemption price of $25.00 per Series D Depositary Share. Holders of the Series D Depositary Shares as of the redemption date will also receive $0.38924 in accrued dividends, for an aggregate redemption price of $25.38924 per Series D Depositary Share. Dividends on the Series D Preferred Shares represented by the Series D Depositary Shares will cease to accrue on and after the redemption date, and holders will have no rights other than the right to receive the redemption price, without interest, upon surrender of their shares. Each of the Company's Series D Depositary Shares is convertible into 0.93677 common shares of Duke Realty Corporation (CUSIP No.: 264411505). Holders that convert to common stock prior to redemption of the Series D Depositary Shares will not receive fractional shares upon their conversion, but instead will receive a cash adjustment based on the market price of the common shares on the day prior to the conversion date. Holders that convert to common stock prior to redemption of the Series D Depositary Shares would not be entitled to receive any portion of the redemption price, including any accrued dividends. The Notice of Redemption and related materials will be mailed to holders of Duke's Series D Depositary Shares representing the Series D Preferred Shares on or before February 14, 2004. As specified in the Notice of Redemption, payment of the redemption price will be made only upon presentation and surrender of the Series D Depositary Shares representing the Series D Preferred Shares to American Stock Transfer and Trust Company, Duke's transfer agent and the redemption agent, by registered or certified mail certified mail n. Uninsured first-class mail for which proof of delivery is obtained. certified mail (US) n → Einschreiben nt , properly insured, or hand delivery during normal business hours BUSINESS HOURS. The time of the day during which business is transacted. In respect to the time of presentment and demand of bills and notes, business hours generally range through the whole day down to the hours of rest in the evening, except when the paper is payable it a bank or by a at 59 Maiden Lane, 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 , New York 10038. Questions relating to the Notice of Redemption and related materials should be directed to American Stock Transfer and Trust Company, telephone number 800/937-5449. Duke Realty Corporation is the largest publicly traded office and industrial real estate company in the United States. Offering a complete range of real estate products and services, Duke produces approximately $800 million in annual revenue from more than 4,100 tenants and focuses on building dominant market positions in each of its 13 geographic platforms across the Midwest and the Sunbelt. Duke owns interests in more than 109 million square feet of properties, has over 1,000 employees and owns or controls approximately 3,800 acres of undeveloped land that can support more than 60 million square feet of future development. Visit Duke Realty on the web at www.dukerealty.com. |
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