Spin-Off Of Centex Construction Products Scheduled to be Completed On January 30, 2004
2003年12月23日 - 4:20AM
PRニュース・ワイアー (英語)
Spin-Off Of Centex Construction Products Scheduled to be Completed
On January 30, 2004 DALLAS, Dec. 22 /PRNewswire-FirstCall/ --
Centex Corporation announced today that its board of directors has
authorized the distribution to its stockholders on a tax-free basis
of all shares of common stock of Centex Construction Products, Inc.
held by Centex, subject to certain conditions. The record date for
the distribution will be January 14, 2004, and the distribution is
scheduled to be completed on January 30, 2004. Stockholders will
receive approximately 0.19 shares of CXP common stock (consisting
of approximately 0.15 shares of CXP's new Class B common stock and
approximately 0.04 shares of CXP's existing class of common stock)
for each Centex share held on the record date. The final
distribution ratios will be determined based on the number of
shares of Centex common stock outstanding on the record date, but
are not expected to differ significantly from the above ratios.
Certificates representing the CXP shares to be distributed by
Centex will be delivered beginning January 30, 2004. No fractional
shares of CXP common stock will be distributed, and stockholders
who otherwise would receive fractional shares will instead receive
a cash payment, which will be taxable. After the distribution,
CXP's existing class of common stock will trade on the New York
Stock Exchange under the Symbol "EXP". CXP's Class B common stock
has been approved for listing on the New York Stock Exchange and
will trade under the symbol "EXP.B". The distribution is subject to
certain conditions, including the approval by CXP stockholders of
the reclassification of CXP's capital stock into CXP common stock
and Class B common stock at the stockholders' meeting to be held on
January 8, 2004. CXP is a Dallas-based company that manufactures
and distributes cement, gypsum wallboard, recycled paperboard and
concrete and aggregates. Through its subsidiaries, Centex, a
Fortune 250 company, ranks as one of the nation's premier companies
in the Home Building, Financial Services, Home Services and
Construction Services industries. Forward-Looking Statements. This
press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, Section 21E
of the Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act of 1995. Forward-looking statements may be
identified by the context of the statement and generally arise when
Centex is discussing its beliefs, estimates or expectations. These
statements are not guarantees of future performance and involve a
number of risks and uncertainties. Actual results and outcomes may
differ materially from what is expressed or forecast in such
forward-looking statements. With respect to any statements relating
to the proposed spin-off of CXP, such statements are subject to the
approval of the reclassification of CXP's common stock by the
stockholders of CXP and satisfaction of the other conditions set
forth in the definitive agreements entered into by Centex and CXP.
With respect to any discussions of the expected performance and
results of operations of Centex, risks and uncertainties include
the following: general economic conditions and interest rates; the
cyclical and seasonal nature of Centex's businesses; adverse
weather; changes in property taxes and energy costs; changes in
federal income tax laws and federal mortgage financial programs;
governmental regulations; changes in governmental and public
policy; changes in economic conditions specific to any one or more
of Centex's markets and businesses; competition; availability of
raw materials; and unexpected operations difficulties. These and
other factors are described in Centex's most recent Annual Report
on Form 10-K for the fiscal year ended March 31, 2003, and its
quarterly reports on Form 10-Q for the quarters ended June 30 and
September 30, 2003, which are filed with the Securities and
Exchange Commission. CPLBF DATASOURCE: Centex Corporation CONTACT:
Leldon E. Echols, Executive Vice President & Chief Financial
Officer, or Matthew G. Moyer, Vice President - Investor Relations,
both of Centex Corporation, +1-214-981-5000 Web site:
http://www.centex.com/
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