Printer Friendly

ROCKEFELLER CENTER PROPERTIES TO ADJUST EXERCISE PRICE FOR WARRANT

 ROCKEFELLER CENTER PROPERTIES TO ADJUST EXERCISE PRICE FOR WARRANT
 NEW YORK, July 27 /PRNewswire/ -- Rockefeller Center Properties, Inc. (RCPI) (NYSE: RCP) announced today that it will adjust the exercise price for the warrants that will be issued to class members as part of the settlement of the Pruitt v. Rockefeller Center Properties, Inc. et. al. litigation. The new exercise price will be the lower of $16.32 (the price originally specified in the settlement agreement announced on June 1, 1992) and the average composite closing price at which RCPI's common stock trades during the 30-day period preceding the date the warrants are issued (anticipated to take place mid-Fall, 1992), but not less than $9.88 a share.
 The warrants, which will be non-transferable, will be exercisable during the 30-day period after they are issued. The warrants will be for approximately 3 million shares of RCPI's common stock. The offering of the common shares issuable upon exercise of the warrants will be made only by means of a prospectus.
 The settlement agreement, including the adjustment to the warrant exercise price, is subject to court approval. The other terms of the settlement agreement remain unchanged.
 RCPI's management believes that this modification is in the best interest of the company's shareholders because it will facilitate obtaining court approval of the settlement by having the adjusted exercise price take into account market conditions just prior to the time the warrants are exercisable.
 -0- 7/27/92
 /CONTACT: Fredric J. Spar of Kekst and Company, 212-593-2655, for Rockefeller Center Properties/
 (RCP) CO: Rockefeller Center Properties Inc. ST: New York IN: FIN SU:


TS -- NY071 -- 3507 07/27/92 12:03 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 27, 1992
Words:276
Previous Article:COMMUNITY PSYCHIATRIC CENTERS NAMES EXECUTIVES TO HEAD TRANSITIONAL CARE SUBSIDIARY
Next Article:CHEVRON ANNOUNCES SECOND QUARTER FINANCIAL RESULTS
Topics:


Related Articles
ROCKEFELLER CENTER PROPERTIES DECLARES 48 CENTS DIVIDEND FOR FIRST QUARTER
ROCKEFELLER CENTER PROPERTIES ANNOUNCES AGREEMENT IN LITIGATION
ROCKEFELLER CENTER PROPERTIES, INC. DECLARES 48 CENTS DIVIDEND FOR SECOND QUARTER
ROCKEFELLER CENTER PROPERTIES, INC. DECLARES 48 CENTS DIVIDEND FOR THIRD QUARTER
REORGANIZATION AND $1.235 BILLION RECAPITALIZATION PROPOSED BY TISHMAN SPEYER AND ROCKEFELLER GROUP, INC.
ZELL GROUP PROPOSES OFFER TO PURCHASE LOAN ON ROCKEFELLER CENTER
ZELL GROUP PROPOSES ENHANCEMENTS TO DEFINITIVE AGREEMENT FOR RCPI
Rockefeller Center deal: it's a long way from over.
Gazit(1995), Inc. and MGN(USA), Inc. Exercises Equity One Series C Warrants.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters