STAMFORD, Conn., Jan. 28 /CNW/ -- Centerplate, Inc. (formerly AMEX: CVP;
TSX: CVP.un), today announced the tax treatment of its 2008 cash payments on
the common stock component of its former Income Deposit Securities (IDSs).
Each IDS unit was comprised of one share of common stock and a
subordinated note. In 2008, the company paid out a total of approximately
$0.33 per unit (January through May 2008) as a distribution on the common
stock component of the IDS and a total of approximately $0.71 per unit in
interest income (January through November 2008.) The company eliminated the
dividend on its common stock after the payment of the May 2008 dividend and
deferred interest on the subordinated notes after the November 20, 2008
payment. The company expects that, based on U.S. federal income tax laws, the
2008 distributions on the common stock should be treated as a return of
capital or capital gain.
Please consult your tax advisor if you have questions about proper tax
treatment of amounts reported on Form 1099.
IRS Circular 230 Notice
To ensure compliance with requirements imposed by the IRS, we inform you
that any U.S. tax advice contained herein is not intended or written to be
used, and cannot be used by any taxpayer, for the purpose of avoiding U.S. tax
For more information contact:
Director of Communications
Centerplate, Inc., with its principal executive office in Stamford, CT,
is a leading provider of food and related services including concessions,
catering, and merchandise 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, firstname.lastname@example.org Web Site: