Cal-Maine Foods, Inc. Withdraws Proposed Public Offering of
5,000,000 Shares of Common Stock
JACKSON, Miss., April 29 /PRNewswire-FirstCall/ -- Cal-Maine Foods, Inc.
announced today that it will not proceed with its proposed public offering of
5,000,000 shares of its Common Stock, including 1,000,000 shares that were to
be sold by Fred R. Adams, Jr., Cal-Maine's Chairman of the Board and Chief
Executive Officer. Cal-Maine has concluded that a public offering of its Common
Stock at current market prices is not in the best interests of Cal-Maine or its
existing stockholders. Cal-Maine expects to finance any acquisitions of
additional shell egg production facilities through its internal resources,
including the use of its Common Stock and borrowings. At this time, Cal-Maine
has no undertakings or agreements with respect to any such acquisition.
Cal-Maine is the largest producer and marketer of shell eggs in the United
States. In fiscal 2003, Cal-Maine sold 571 million dozen eggs, representing
about 13% of domestic shell egg consumption. Cal-Maine's total flock, which is
comprised of approximately 21 million layers and 5 million pullets and
breeders, is the largest in the United States.
Forward-looking statements in this release, including statements related to any
future acquisitions, are made pursuant to the safe harbor provisions of the
federal securities laws. Information contained in forward-looking statements is
based on current expectations and is subject to change, and actual results may
differ materially from the forward-looking statements. Cal- Maine Foods, Inc. does not undertake to update any such forward-looking statements or to publicly
announce developments or events relating to the matters described herein. DATASOURCE: Cal-Maine Foods, Inc.
CONTACT: Fred Adams, Jr., Chairman and CEO of Cal-Maine Foods, Inc., +1-601-948-6813
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