Centerplate Announces Interest Payments on Income Deposit Securities
October 30 2008 - 8:54AM
PR Newswire (US)
STAMFORD, Conn., Oct. 30 /PRNewswire-FirstCall/ -- Centerplate,
Inc. (Amex: CVP; TSX: CVP.un), announced today that a cash payment
of U.S. $0.064 per Income Deposit Security will be payable on
November 20, 2008 to holders of record of Income Deposit Securities
at the close of business on November 10, 2008. Each of the Income
Deposit Securities issued by the company is comprised of one share
of common stock and a subordinated note. The payment of U.S. $0.064
reflects an interest payment on the subordinated note for the
monthly period beginning October 20, 2008 and ending November 19,
2008 as provided in the subordinated notes. As previously
announced, the company's senior credit facility requires the
company to defer interest on the subordinated notes following the
November 20th payment until the closing of the transaction with
Kohlberg & Company. Deferred interest, and interest accrued
thereon, will be paid on the closing date of the transaction.
Forward-Looking Statements This news release includes
forward-looking statements within the meaning of Section 27A of the
Securities Act and Section 21E of the Securities Exchange Act.
These statements may involve risks and uncertainties that could
cause actual results to differ materially from those described in
such statements. Although Centerplate believes that the
expectations reflected in these forward-looking statements are
reasonable, the company can give no assurance that these
expectations will prove to have been correct or that they will
occur. Important factors beyond Centerplate's control, including
general economic conditions, the outcome of the company's
contemplated merger agreement, consumer spending levels, changing
trends in our business and competitive environment, the company's
borrowing capacity and the provisions of the credit agreement, the
provisions of its indenture, adverse weather conditions and other
factors, as well as the risks identified in the company's most
recent annual report on Form 10-K, preliminary Proxy Statement, and
other filings with the Securities and Exchange Commission, could
cause actual results to differ materially from Centerplate's
expectations. Centerplate undertakes no obligation to update or
review any forward-looking statement, whether as a result of new
information, future developments or otherwise. For more information
please contact: Gael Doar Director of Communications 203-975-5941
Centerplate, Inc., with its principal executive office in Stamford,
CT, is a leading provider of food, merchandise and related
services, including concessions and catering services in
approximately 130 sports facilities, convention centers and other
entertainment venues throughout the United States and Canada. Visit
the company online at http://www.centerplate.com/. DATASOURCE:
Centerplate, Inc. CONTACT: Gael Doar, Director of Communications,
Centerplate, Inc., +1-203-975-5941, Web site:
http://www.centerplate.com/
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