C&D Technologies Announces Adjournment of Stockholder Meeting and Extension of Exchange Offer |
(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)
C&D Technologies, Inc.
1400 Union Meeting Road
Blue Bell, PA, 19422
USA
Press release date: December 13, 2010
o Special Stockholder Meeting Adjourned Until 3:00 PM EST on December 20, 2010
o Exchange Offer to Expire at 11:59 PM EST on December 20, 2010
BLUE BELL, Pa., Dec. 13, 2010 - C&D Technologies, Inc. announced today that it has adjourned a special meeting of stockholders, which had been called in order to approve the exchange offers for its outstanding 5.25% Convertible Senior Notes due 2025 and 5.50% Convertible Senior Notes due 2026 in exchange for shares of the Company's common stock and certain amendments to the Company's certificate of incorporation in connection with the exchange offers until 3:00 PM EST on Monday, December 20, 2010 at the corporate offices of C&D located at 1400 Union Meeting Road, Blue Bell, Pennsylvania.
Dr Jeffrey Graves, President and Chief Executive Officer, said "the special meeting previously scheduled in connection with our financial restructuring was adjourned today to provide additional time to secure a quorum for the meeting. Given the voting timeline for the exchange was very compressed, an adjournment of the meeting to provide our stockholders additional time to submit their votes was considered the appropriate course of action."
The proposals to be voted on by the stockholders of the Company at the adjourned special meeting are more fully described in the Company's definitive proxy statement filed with the Securities and Exchange Commission (the "SEC") on November 30, 2010. Stockholders of record at the close of business on October 18, 2010 will be entitled to notice of and to vote at the meeting. Instructions for how to vote by proxy at the meeting, even if a stockholder is unable to attend the meeting, are included in the definitive proxy statement. THE COMPANY'S BOARD OF DIRECTORS RECOMMENDS A VOTE IN FAVOR OF EACH PROPOSAL INCLUDED IN THE DEFINITIVE PROXY STATEMENT.
Stockholders that have any questions or need assistance in voting their shares should call MacKenzie Partners, Inc., the Company's proxy solicitor, toll-free at (800) 322-2885 or collect at (212) 929-5500.
Additionally, the Company has extended the expiration time of the exchange offers and the solicitation period for acceptances under the prepackaged plan of reorganization until 11:59 PM EST on Monday, December 20, 2010. Validly tendered Notes may be validly withdrawn at any time prior to the expiration time.
The exchange offers are subject to and described more fully in the Company's effective Registration Statement on Form S-4 filed with the SEC on November 30, 2010.
Solicitation Participants
C&D Technologies and its directors, executive officers and certain other members of management and employees may be soliciting proxies from its stockholders in favor of the proposals to be voted on at the special stockholder meeting. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the C&D stockholders in connection with the exchange offer are set forth in the definitive proxy statement filed with the SEC on November 30, 2010. You can find information about C&D's executive officers and directors in its definitive proxy statement filed with the SEC on May 7, 2010. You can obtain free copies of these documents from C&D Technologies using the contact information below.
About C&D Technologies:
C&D Technologies, Inc. provides solutions and services for the switchgear and control (utility), telecommunications, and uninterruptible power supply (UPS), as well as emerging markets such as solar power. C&D Technologies' engineers, manufactures, sells and services fully integrated reserve power systems for regulating and monitoring power flow and providing backup power in the event of primary power loss until the primary source can be restored. C&D Technologies' unique ability to offer complete systems, designed and produced to high technical standards, sets it apart from its competition. C&D Technologies is headquartered in Blue Bell, Pennsylvania. For more information about C&D Technologies, visit http://www.cdtechno.com.
Stockholders or Noteholders with questions regarding the tender and exchange process or voting at the special stockholder meeting may also contact the Company by contacting Ian Harvie, Senior Vice President and Chief Financial Officer at (215) 619-7835.
SOURCE C&D Technologies, Inc.
CONTACT:
Shareholder Contacts,
Ian J. Harvie of C&D:
+1-215-619-7835;
or
Andrea Calise of Kekst & Co.:
+1-212-521-4845
Web Site: http://www.cdtechno.com
|
|
|
|
|
|
|
|
|
|
|
| 
