STAMFORD, Conn., Oct. 30 /CNW/ -- 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.
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:
Director of Communications
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 www.centerplate.com.
For further information:
For further information: Gael Doar, Director of Communications,
Centerplate, Inc., +1-203-975-5941, email@example.com Web Site: