Patapsco Bancorp, Inc. Announces Results of the Call of Series A Preferred Stock for Redemption or Conversion.BALTIMORE -- Please replace the release (dated April 6, 2006) with the following corrected version due to multiple revisions in Share Redemption Data. The corrected release reads: PATAPSCO BANCORP, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . ANNOUNCES RESULTS OF THE CALL OF SERIES A PREFERRED STOCK Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. FOR REDEMPTION OR CONVERSION Patapsco Bancorp, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). , Electronic Bulletin Board:PATD PATD Panic at the Disco (band) PATD Professional Association for Technical Diving PaTD Passing Touchdowns (football) PATD Post Advanced Trial Dog (dog training) ), announced today the holders of 82,375 shares of Series A Non-cumulative Perpetual 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 Preferred Stock"), or 96.9% of the total shares of Series A Preferred Stock outstanding, elected to convert their shares into Company common stock by the March 31, 2006 deadline (the "Redemption Date"). The holders of the remaining 2,676 shares of Series A Preferred Stock were redeemed by the Company at $25.00 per share, for a total of $66,900. As a result, the Company's common stock outstanding increased by 328,924 shares to 1,802,441 shares and shareholders equity decreased by $66,900. The final dividend on the Series A Preferred Stock was paid on March 31, 2006 to all shareholders of record as of February 18, 2006. Commenting on the Company's announcement, Joseph J. Bouffard, President, said, "the conversion of our Series A Preferred Stock demonstrates the strong on-going support by our shareholders and has improved our prospects for further growth." Patapsco Bancorp, Inc. is the holding company for The Patapsco Bank, which conducts business though its banking offices in Baltimore City and Baltimore County, Maryland Coordinates: For other uses of "Baltimore", see Baltimore (disambiguation). Baltimore County is a county located in the northern part of the U.S. state of Maryland. In 2004, its population was estimated to be 763,181.[1]. . |
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