Golden State Bancorp to Redeem Series A Preferred Stock.GLENDALE, Calif.--(BUSINESS WIRE)--Aug. 19, 1998--Golden State Bancorp (NYSE NYSESee: New York Stock Exchange :GSB GSB Graduate School of Business (Stanford) GSB Graduate School of Business (Chicago) GSB Government of the Student Body (Iowa State University, Ames, IA) ), parent company of Glendale Federal Bank, announced today it is calling for redemption its 8-3/4 Percent Noncumulative Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". , Series A (NYSE:GSBPrA), at a price of $26.09375 per share, plus any accrued and unpaid dividends to and including the redemption date. The redemption date is set for October 1, 1998. Each share of the Series A preferred stock is convertible into 2.404 shares of Golden State Bancorp common stock and 2.404 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. Tracking Warrants(tm) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :GSBNZ) at any time prior to the close of business on September 28, 1998. Holders of the Noncumulative Convertible Preferred Stock, Series A will receive written redemption instructions from Golden State's information agent, ChaseMellon Shareholder Services. For information regarding either conversion or redemption of the Series A preferred stock, holders should call 1-800-774-5469. For bank and broker inquiries, please call 1-212-273-8080. Golden State Bancorp, with $19 billion in assets, is the parent company of Glendale Federal Bank -- California's leading community bank, serving the business and consumer banking needs of Californians through 209 banking offices and 25 loan offices. Customers can reach the bank by calling 1-800-41FEDUP FEDUP Federation of the Urban Poor (South Africa) , or get information through its Internet site at http://www.glendalefederal.com CONTACT: Glendale Federal Bank, Glendale Ken Preston, 818/409-4550 Jeff Misakian, 818/500-2824 |
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