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Price Legacy Corp., 8 3/4% Series A Cumul Redeem Preferred Stock
Ticker Symbol: PLREO* CUSIP: 74144P205 Exchange: OTOTC
* NOTE: This security is no longer trading as of 4/11/2005
Security has been Called for: Monday, April 11, 2005
March 11, 2005 -- PL Retail LLC, a joint venture between Kimco Realty Corporation (NYSE: KIM) and clients of DRA Advisors LLC, today announced that it will redeem all 2,424,494 outstanding depositary shares of the Company's 8.75% Series A Cumulative Redeemable Preferred Stock, par value $0.0001 per share (NASDAQ: PLREO), at the redemption price of $16.00 per depositary share plus accrued and unpaid dividends. PL Retail LLC has set April 11, 2005 as the redemption date on which all outstanding depositary shares of Price Legacy Series A Preferred Stock will be redeemed. Holders of the Series A depositary shares will receive cash consideration of $16.00 per depositary share plus 27.2 cents per depositary share representing accrued and unpaid dividends on the redemption date. ________
Dec. 21, 2004 -- Price Legacy Corporation (NASDAQ: PLRE) announced today that it has completed its merger with PL Retail LLC, a joint venture between Kimco Realty Corporation (NYSE:KIM) and clients advised by DRA Advisors LLC, pursuant to which PL Acquisition Corp., a wholly-owned subsidiary of PL Retail LLC, merged with and into Price Legacy with Price Legacy continuing as the surviving corporation, with all of its common stock owned by PL Retail LLC. Under the terms of the merger agreement, holders of Price Legacy's common stock will receive $18.85 per share in cash plus a prorated common dividend from October 1, 2004 through the closing of the merger. The total merger consideration to be received by holders of Price Legacy's common stock will equal $19.097 per share. Price Legacy's common stock, Series A Preferred Stock and Series 1 Preferred Stock will each be delisted from the Nasdaq National Market, effective as of the close of business today and deregistered under the Securities Exchange Act of 1934. ________ From the DEFM14A report filed with the SEC on 11/22/2004: "Holders of Price Legacy's Series A preferred stock and Series 1 preferred stock will continue to be entitled to receive the same dividends that they were entitled to receive prior to the signing of the merger agreement, which equal $0.35 and $0.29 per quarter per share, respectively. PL Retail has indicated that it may continue to redeem outstanding shares of Series A preferred stock subject to the availability of financing and may also redeem outstanding shares of Series 1 preferred stock subject to the availability of financing." ________ May 6, 2004 -- Price Legacy Corp. announced today the redemption of 1,000,000 shares of its 8 3/4 % Series A Preferred Stock. The redemption date will be June 7, 2004 at the stated redemption price of $16.00 per share and a dividend of $0.145 per share, which represents a quarterly dividend of $0.35 per share pro-rated for the period May 1, 2004 to June 7, 2004. The redemption will be made first to fully redeem shareholders holding 99 or fewer shares and next pro rata to the remaining shareholders of record. Shareholders of record will receive transmittal letters providing instructions as to the redemption process. Following the redemption, the Company will have 5,486,994 shares of its 8 3/4 % Series A Preferred Stock outstanding. As previously announced, the Company intends, subject to the availability of requisite financing, to redeem the remaining shares of its Series A Preferred Stock as soon as reasonably practicable.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Price Legacy Corp., formerly Price Enterprises Inc., 8 3/4% Series A Cumulative Redeemable Preferred Stock, liquidation preference $16.00 per share, redeemable at the issuer's option on or after 8/15/2003 at $16 per share plus accrued and unpaid dividends, with no stated maturity, and with distributions of 8 3/4% ($1.40) per annum paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the date fixed by the board. In regards to payment of dividends and upon liquidation, the preferred shares rank senior to the Series B preferred stock and to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below. XLG merged with Price Enterprises Inc. (NASDAQ: PREN) to form Price Legacy Corp. (NASDAQ: XLG) effective 9/18/2001.
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Go to Parent Company's Record (KIM)
IPO - 8/10/2001 -
Link to IPO Prospectus
Previous Ticker Symbol: PRENP Changed: 3/15/2004
Market Value $64.2 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: 17140 Bernardo Center Drive, Suite 300, San Diego, CA 92128 |
| Main Phone Number |
858-675-9400 |
| Fax Number |
858-675-9405 |
| Investor Contact (President)
Graham R. Bullick
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858-675-9400
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Toll Free Phone Number |
Unknown |
| CEO - Gary B. Sabin |
CFO - James Nakagawa |
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