Eastman Chemical Company : Eastman Warrants Set to Expire on February 27, 2013
KINGSPORT, Tenn., Feb. 13, 2013 - Eastman Chemical Company (NYSE:EMN) is
advising holders of its publicly traded warrants (NYSE:EMN.WS) that the
warrants will expire and not be exercisable after 5:00 p.m., New York City
time, on Feb. 27, 2013 (the "Expiration Date").
The warrants, which were assumed by Eastman in its acquisition of Solutia Inc.
("Solutia") in July 2012, were originally issued by Solutia and were
exercisable for shares of its common stock. As a result of that acquisition,
upon the payment of the warrant exercise price of $29.70, each warrant is
exercisable for $22.00 in cash and 0.12 shares of Eastman common stock.
Warrants can be exercised by payment of the cash exercise price, or on a net
issuance basis, at the option of the warrant holder. A warrant holder can
obtain further information on exercising the warrants, including how to
exercise on a net issuance basis, by contacting his or her broker or American
Stock Transfer & Trust Company, the Company's warrant agent. Brokers are
encouraged to contact American Stock Transfer & Trust Company in advance of
the Expiration Date to confirm the procedures for exercising warrants.
Any warrant not exercised prior to the Expiration Date will expire and the
holder thereof will not receive any cash, shares of Eastman common stock or
other consideration for such unexercised warrants.
The NYSE has notified Eastman that trading in the warrants on the NYSE will be
suspended after the close of business Feb. 21, 2013 to ensure all trades in
the warrants settle in time to allow the purchasers of such warrants to
exercise the warrants on or before the Expiration Date.
Eastman is a global specialty chemicals company that produces a broad range of
products found in items people use every day. With a portfolio of specialty
businesses, Eastman works with customers to deliver innovative products and
solutions while maintaining a commitment to safety and sustainability. Its
market-driven approaches take advantage of world-class technology platforms
and leading positions in attractive end-markets such as transportation,
building and construction and consumables. Eastman focuses on creating
consistent, superior value for all stakeholders. As a globally diverse
company, Eastman serves customers in approximately 100 countries and had 2012
pro forma combined revenues, giving effect to the Solutia acquisition, of
approximately $9.1 billion. The company is headquartered in Kingsport,
Tennessee, USA and employs approximately 13,500 people around the world. For
more information, visit www.eastman.com.
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Media: Tracy Kilgore
Investors: Greg Riddle
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Eastman Chemical Company via Thomson Reuters ONE
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