Central Pacific Financial Corp. Common Stock Will Begin Trading Without the Value of the Rights on February 28, 2011
HONOLULU, Feb. 23, 2011 /PRNewswire/ -- Central Pacific Financial Corp. (NYSE: CPF) (the "Company"), parent company of Central Pacific Bank ("CPB"), today announced that the New York Stock Exchange ("NYSE") has set February 28, 2011 as the day CPF common stock will trade without the value for the subscription rights subject to its planned $20 million common stock rights offering (the "Rights Offering"). The Company previously announced the record date for the Rights Offering was the close of business on February 17, 2011; however, pursuant to normal practices of the NYSE, shares of common stock traded during the period from February 15, 2011 through February 25, 2011 will be traded with the rights (i.e., with "due bills" attached). Starting with the open of market on February 28, 2011, CPF common stock will trade without the rights (i.e., without "due bills" attached).
The Rights Offering will not commence until the registration statement relating to the Rights Offering to be filed by the Company with the Securities and Exchange Commission is declared effective. The Company will announce the commencement and expiration dates for the Rights Offering when the information is available.
About Central Pacific Financial Corp.
Central Pacific Financial Corp. is a Hawaii-based bank holding company with $3.9 billion in assets. Central Pacific Bank, its primary subsidiary, operates 34 branches, over 120 ATMs, and a residential mortgage subsidiary in the state of Hawaii. For additional information, please visit the Company's website at http://www.centralpacificbank.com.
Cautionary Statement
This press release shall not constitute an offer of any securities for sale. The shares that may be purchased in the rights offering described in this release will be offered by means of a prospectus. A registration statement relating to such securities has not been filed with the Securities and Exchange Commission. Such securities may not be sold nor may offers to buy be accepted prior to the time the registration statement is filed and becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction or state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or state.
SOURCE Central Pacific Financial Corp.
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