AMCOL International (ticker: ACO, exchange: New York Stock Exchange (.N))
News Release -
13-Jun-2000
AMCOL (NYSE: ACO) Announces it Will be Trading Ex-Distribution Through Payable Date ARLINGTON HEIGHTS, Ill., June 13 /PRNewswire/ -- In connection with the
distribution of a liquidating dividend following the sale of AMCOL's
superabsorbent polymer business to BASF AG, as previously announced, the
following is an excerpt of information mailed to AMCOL shareholders on June
12, 2000.
If you are enrolled in AMCOL's Dividend Reinvestment Plan, the plan
states; if AMCOL makes a partial liquidating distribution resulting from
the sale of a portion of its business, the distribution is not reinvested
in AMCOL common stock. Rather, the distribution will be distributed to
the participants. You will be receiving a payment representing the
partial liquidating distribution paid with respect to your shares of AMCOL
common stock.
When there is a comparatively large cash distribution, it is the practice
of the New York Stock Exchange not to allow the stock to sell "ex-
distribution" until the cash is distributed. The purpose of this is to
maintain the full value of the stock until stockholders have received the
cash distribution. This is achieved by requiring that all certificates
delivered after the record date be accompanied by assignments of the cash
distribution. Therefore in order to receive the distribution from AMCOL
you must hold your AMCOL stock on the record date, June 16, 2000, thru
ex-date which will be on or about July 3, 2000, depending on the
distribution date. AMCOL shares sold between the record date and the
distribution date through a broker will be at a price that includes the
$14 per share distribution.
AMCOL produces and markets a wide range of specialty mineral products used
for industrial, environmental and consumer-related applications. AMCOL is the
parent of American Colloid Co., CETCO (Colloid Environmental Technologies
Co.), Nanocor and the transportation operations, Ameri-Co Carriers, Inc. and
Nationwide Freight Service, Inc. SOURCE AMCOL Web site: http: //www.amcol.com Company News On-Call: http: //www.prnewswire.com/comp/109852.html or fax, 800-758-5804, ext. 109852 CONTACT: Investor Relations, Jennifer Melsheimer of AMCOL International, 847-394-8730 |