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AMG Advanced Metallurgical Says Safeguard Int'l Completes Orderly Transition Of AMG Shareholdings - Quick Facts
(RTTNews) - AMG Advanced Metallurgical Group N.V. (AMG) announced that it was informed by its largest shareholder, Safeguard International Fund, L.P. and affiliates that Safeguard International has successfully completed an orderly transition of all of its shareholdings in AMG.
As previously announced, Safeguard International was an owner of 7.8 million AMG shares. Safeguard International is scheduled to dissolve on 31 March 2011 and it intended to transition its AMG shareholdings no later than 30 September 2010.
As part of the transition of its shareholdings, Safeguard International has distributed 4.7 million shares of AMG common stock to certain of its Limited Partners. The remaining Limited Partners of Safeguard International will receive the net proceeds of its private placement of 3.1 million shares of AMG common stock, which was priced on 2 September and is expected to be settled on 7 September.
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