Past year: ▼ 2%(51.78 – 64.15 USD)
Each one in plain English, with the numbers worked through for a shareholder.
3 July 2003business combination● Neutral
The company filed paperwork to swap its $175 million of 7% senior subordinated notes due 2013, privately sold on June 10, 2003, for identical notes registered with the SEC so they can trade freely. The company receives no cash from the exchange; it is a required follow-up to the private offering and does not change the amount of debt.
26 Feb 2003capital raising announcement● NeutralMajor
The company agreed with J.P. Morgan Securities to sell 3,300,000 new common shares (including 300,000 over-allotment shares) in a public offering, using the shelf registration filed in May 1999. At the same time it agreed to use the net proceeds to buy back an equal number of shares from THEC Holdings Corp. (tied to KeySpan Corporation), so the filing indicates the share count is not meant to rise overall.
5 Apr 2002auditor change● Neutral
The company said it will not renew Arthur Andersen LLP, its auditor for sixteen years, and has appointed Deloitte & Touche LLP instead, effective January 1, 2002. Andersen's reports for 2000 and 2001 had no adverse or qualified opinions and there were no disagreements; shareholders are asked to ratify Deloitte at the May 17, 2002 annual meeting.
