General Finance Corporation Announces Interim Results of its Warrant Exercise Program
23 Maggio 2008 - 1:00PM
PR Newswire (US)
PASADENA, Calif., May 23 /PRNewswire-FirstCall/ -- General Finance
Corporation (the "Company") (AMEX:GFNAMEX:GFN.WSAMEX:andAMEX:GFN.U)
today announced interim results to date, of its warrant exercise
program expiring May 30, 2008. In response to the tender offer, a
total of 1,445,736 warrants have been tendered for exercise so far,
of which 691,972 warrants were tendered by directors and officers
of the Company and 753,764 warrants were tendered by major
shareholders of the Company. The purpose of the tender offer is to
raise capital to fund future acquisitions and growth and to reduce
the number of warrants outstanding. The tender offer is scheduled
to expire at 11:59 p.m., Eastern Daylight Time, on May 30, 2008,
unless the offer is extended or withdrawn. Warrants must be
tendered prior to the expiration of the offer, and tenders of
existing warrants may be withdrawn at anytime on or prior to the
expiration of the offer or, if we have not accepted a holder's
exercise payment, a warrant holder may rescind its exercise at any
time for a period of 40 days from commencement of the offer. The
terms and conditions of the offer are as set forth in the offer
letter and related documentation and which are being mailed to
holders of the Company's warrants. Continental Stock Transfer &
Trust is acting as dealer manager in connection with the warrant
offer. A copy of the offering documents may be obtained from Bob
Marese of MacKenzie Partners, Inc., the Information Agent for the
offering. MacKenzie's telephone number for bankers, brokers and
warrant holders is (800) 322-2885. Please contact MacKenzie
Partners, Inc. with any questions regarding the offer. Investors
are urged to read the following documents to be filed with the
Securities Exchange Commission (SEC), as they may be amended from
time to time, relating to the offer as they contain important
information: (1) the Schedule TO and related Offer Letter; (2)
Amendment No. 1 to Schedule TO, (3) the prospectus supplement to
the registration statement on Form S-1 related to the offer; and
(4) the Company's other reports filed with the SEC for information
about the Company generally. Free copies of these and any other
documents relating to the offer, when they are filed with the SEC,
may be obtained at the SEC's website at http://www.sec.gov/, or
from the Information Agent as noted above. This press release
itself is not intended to constitute an offer or solicitation to
buy or exchange securities in the Company, nor shall there be any
sale or purchase of securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful. THE COMPANY'S BOARD
OF DIRECTORS HAS APPROVED THE WARRANT EXERCISE PRICE REDUCTION.
HOWEVER, NEITHER THE COMPANY NOR ANY OF ITS DIRECTORS, OFFICERS OR
EMPLOYEES MAKES ANY RECOMMENDATION AS TO WHETHER TO EXERCISE
WARRANTS. EACH HOLDER OF A WARRANT MUST MAKE ITS OWN DECISION AS TO
WHETHER TO EXERCISE SOME OR ALL OF ITS WARRANTS. The information
above does not constitute an offer to buy or exchange securities or
constitute the solicitation of an offer to sell or exchange any
securities in the Company. About General Finance Corporation The
Company, through its indirect 86.2%-owned subsidiary, Royal Wolf,
sells and leases portable storage containers, portable container
buildings and freight containers to a broad cross section of
industrial, commercial, educational and government customers
throughout Australia. Cautionary Statement About Forward-Looking
Statements Statements in this news release that are not historical
facts are forward- looking statements. Such forward-looking
statements include, but are not limited to, prospects of Royal
Wolf. Readers are cautioned that these forward-looking statements
involve certain risks and uncertainties, including those contained
in filings with the Securities and Exchange Commission; such as the
Company's revised definitive proxy statement with respect to the
Company's acquisition of Royal Wolf, its Transition Report on Form
10-K for the six months ended June 30, 2007 and its post-effective
amendment on Form S-1. Contact: John Johnson Chief Operating
Officer General Finance Corporation (626) 584-9722 ext. 1009
DATASOURCE: General Finance Corporation CONTACT: John Johnson,
Chief Operating Officer of General Finance Corporation,
+1-626-584-9722, ext. 1009 Web site: http://www.generalfinance.com/
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