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A. Schulman, 6.00% Cumulative Perpetual Convertible Special Stock
Ticker Symbol: SLMNP     CUSIP: 808194302     Exchange: OTOTC
Security Type:   Traditional Preferred Stock

QUANTUMONLINE.COM SECURITY DESCRIPTION:  A. Schulman, Inc., 6.00% Cumulative Perpetual Convertible Special Stock, liquidation preference $1,000 per share, not redeemable at the issuer's option at any time, and with no stated maturity.

Cumulative distributions of 6.00% per annum ($60.00 per annum or $15.00 per quarter) will be paid quarterly on 2/1, 5/1, 8/1 & 11/1 to holders of record on the record date that will be 1/15, 4/15, 7/15 & 10/15 respectively (NOTE: the ex-dividend date is one business day prior to the record date). If a Dividend Penalty Event occurs and dividends are in arrears and unpaid for six or more quarterly dividend periods, the dividend rate shall be increased by 0.25% to 6.25% per share until the unpaid dividends on the convertible special stock have been paid in full, at which time the dividend rate shall revert to the rate of 6.00% per share (see prospectus for further information).

Dividends paid by this preferred are eligible for a preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under normal holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-35 of the prospectus for further information).

If a Fundamental Change occurs, the issuer will be required to increase the conversion rate for a holder who elects to convert its shares of convertible preferred stock in connection with such fundamental change and determination of the make-whole premium in certain circumstances (see the prospectus for further details).

The preferred shares are convertible any time at the holder's option into 19.1113 common shares of A. Schulman, Inc. (NYSE: SHLM), an initial conversion price of $52.33 per common share. On or after 5/1/2020, if the price of the common stock exceeds 150% of the conversion price for 20 of any 30 consecutive trading days, the company may, at their option, cause the preferred shares to be converted into common shares at the then prevailing conversion price.

This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the convertible preferred stock and the conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
OTOTCn
OTOTCps
6.00%
$60.00
$1,000.00
$1,000.00
Not Redeemable
None
NR NF
12/21/2022
2/1, 5/1, 8/1 & 11/1
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
YES

Go to Parent Company's Record (LYB)

Notes:  From the form 8-K filed with the SEC on 8/21/2018 -- At the Effective Time, each share of special stock of the Company, without par value (the “Convertible Special Stock”), became convertible into the Merger Consideration, with each share of the Convertible Special Stock becoming convertible into the Merger Consideration that a holder of a number of shares of Common Stock equal to the conversion rate would have been entitled to receive on the Closing Date, in accordance with the certificate of designation of the Convertible Special Stock. If a holder of the Convertible Special Stock elects to convert during the period beginning at the open of business on the trading day immediately following the Closing Date and ending at the close of business on the 30th trading day following the Closing Date, such holder will be entitled to an increase in the conversion rate specified in the certificate of designation of the Convertible Special Stock. After such 30th trading day, the increase to the conversion rate will no longer apply but the Convertible Special Stock will remain convertible into the Merger Consideration.

At the effective time of the Merger (the “Effective Time”) and in accordance with the terms of the Merger Agreement, each share of the Company’s common stock, par value $1.00 per share (the “Common Stock”), issued and outstanding immediately prior to the Effective Time (other than shares of the Common Stock held (a) in the treasury of the Company or by the Company or any wholly owned subsidiary of the Company, (b) by LYB, Merger Sub or any wholly owned subsidiary of LYB or (c) by any stockholder who is entitled to demand and properly demands appraisal of such shares pursuant to, and who complies in all respects with, Section 262 of the Delaware General Corporation Law (collectively, the “Cancelled Shares”)) was, by virtue of the Merger, cancelled and automatically converted into the right to receive (i) $42.00 in cash and (ii) one contractual contingent value right (each, a “CVR”), in each case, without any interest thereon and subject to any applicable withholding taxes (the “Merger Consideration”).

IPO - 4/30/2015 - 110,000 Shares @ $1000.00 /share.    Link to IPO Prospectus
Market Value $112.0 Million

Click for current SLMNP price quote from the PINK SHEETS
Click for current SLMNP price quote from the NASDAQ

Company's Online Information Links
HOME PAGE:     https://www.lyondellbasell.com/en/

(This parent company URL is for reference only and does not have specific information on the security.)
Company's Investor Relations Information Go to Investor Relations Information
Company's Online News Releases Go to News Releases
Online Company Profile Go to Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Go to SEC Filings

Company's Email Address Links
Inv Rel Email Address InvestorRelations@lyb.com
General Email Address info@aschulman.com
Email Contact Form on Website Go to Email Form

Address and Phone Numbers
Address:   3637 Ridgewood Road, Fairlawn, OH 44333
Main Phone Number 330-666-3751
Fax Number 330-668-7204
Investor Contact   David Kinney 713-309-7141
Toll Free Phone Number 800-547-3746
CEO - Bernard Rzepka CFO - Joseph J. Levanduski


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