HIGHLAND HEIGHTS, Ky.--(BUSINESS WIRE)--Nov. 8, 2013--
General Cable Corporation (NYSE: BGC) (the “Company”) announced today
that the Company’s outstanding shares (the “Shares”) of 5.75% Series A
Redeemable Convertible Preferred Stock (the “Preferred Stock”) will be
mandatorily redeemed on November 24, 2013. Pursuant to the terms of the
Preferred Stock, the redemption price of $50.00 per share (the
“Redemption Price”), plus all accrued and unpaid or accumulated
dividends through November 24, 2013, will be paid in cash on November
25, 2013 to holders of the Shares who properly deliver their Shares.
The payment of the Redemption Price (together with accrued and unpaid or
accumulated dividends) is conditioned upon book-entry transfer of or
physical delivery of the certificates representing the Shares, together
with necessary endorsements, on or before November 24, 2013 to
Computershare. If delivered by mail, certificates should be sent to
Computershare at 250 Royall Street, Canton MA 02021, Attn: Corporate
Actions. Questions relating to the mandatory redemption should be
directed to Computershare at (800) 777-3674.
The redeemed Shares will no longer be deemed outstanding on and after
November 24, 2013 and all rights with respect to the Shares will cease,
except only the right of the holders thereof to receive the Redemption
Price (together with accrued and unpaid or accumulated dividends). As a
result of the mandatory redemption, the right of the holders to convert
Shares will terminate at the close of business on November 22, 2013.
Unless the Company defaults in the deposit of the Redemption Price
(together with accrued and unpaid or accumulated dividends) with
Computershare, dividends on the Shares will cease to accrue on and after
November 24, 2013 and the only remaining right of the holders thereof is
to receive payment of the Redemption Price (together with accrued and
unpaid or accumulated dividends) upon surrender to Computershare of the
certificates representing the redeemed Shares.
General Cable Corporation, a Fortune 500 Company, is a global leader in
the development, design, manufacture, marketing and distribution of
copper, aluminum and fiber optic wire and cable products and systems for
the energy, industrial, specialty, construction and communications
markets. Visit our website at www.generalcable.com.
Source: General Cable Corporation
General Cable Corporation
Len Texter, Vice President, Investor