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Callon Petroleum Co., $2.125 Convertible Exch Preferred Stock, Series A
Ticker Symbol: CPE-A** CUSIP: 13123X201 Exchange: NYSE
* NOTE: This security is no longer trading as of 7/14/2005
Security has been Called for: Thursday, July 14, 2005
June 13, 2005--Callon Petroleum Company announced today that it has called for redemption all of its outstanding shares of $2.125 Convertible Exchangeable Preferred Stock, Series A. A notice of redemption and letter of transmittal is being mailed to all holders of record as of the close of business on June 10, 2005. The preferred stock will be redeemed on July 14, 2005 at a redemption price equal to $25.213 per share, plus $0.525347, representing all accrued and unpaid dividends to the redemption date. Because the preferred stock is being redeemed prior to the regular quarterly dividend payment date, the company will not be declaring a dividend for this quarter. Each share of preferred stock is currently convertible into 2.273 shares of the company's common stock. The closing price of the company's common stock on the NYSE on June 10, 2005 was $14.46 per share. Any holders of preferred stock that elect to convert their shares of preferred stock into shares of the company's common stock will not be entitled to any accrued and unpaid dividends. The right of holders of shares of preferred stock to exercise their conversion right terminates at the close of business on July 7, 2005, the fifth business day prior to the redemption date.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Callon Petroleum Co., $2.125 Convertible Exchangeable Preferred Stock, Series A, liquidation preference $25 per share, redeemable at the issuer's option on or after 12/31/1998 at an initial $26.488 per share declining to $25 by 2005, plus accrued and unpaid dividends, maturing 2010, distributions of $2.125 per annum are paid quarterly on 1/15, 4/15, 7/15 & 10/15. The preferred shares are convertible any time at the holder's option into 2.273 common shares (calculated) of Callon Petroleum Co. (NYSE: CPE), an initial conversion price of $11 per common share. The preferred is also exchangeable at the company's option on or after 1/15/1998 for the 8.5% Convertible Subordinated Debentures due 2010.
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Stock
Exchange |
Cpn Rate
Ann Amt |
LiqPref
CallPrice |
Call Date
Matur Date |
Moodys/S&P
Dated |
Conv Shrs
Conv Price |
Distribution Dates |
15%
Tax Rate |
NYSE
Chart
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8.50%
$2.125
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$25.00
$26.49
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Called for
7/14/2005
N/A
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WR
NF
3/30/2005
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2.273
$11.00
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1/15, 4/15, 7/15 & 10/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
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YES
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Go to Parent Company's Record (CPE*)
IPO - 11/1/1995 - 1.32 Million Shares @ $25.00/share.
Market Value $12.2 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 200 North Canal Street, Natchez, MS 39120 |
| Main Phone Number |
601-442-1601 |
| Fax Number |
601-446-1410 |
| Investor Contact (CFO)
John S. Weatherly
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800-451-1294
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| Toll Free Phone Number |
800-451-1294 |
| CEO - Fred L. Callon |
CFO - John S. Weatherly |
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