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Marvel Enterprises Inc., 8.00% Cumul Convertible Exch Preferred Stock
Ticker Symbol: MVLEP* CUSIP: 57383M207 Exchange: OTCBB
* NOTE: This security is no longer trading as of 3/31/2003
Security has been Called for: Monday, March 31, 2003
March 19, 2003 -- Marvel Enterprises, Inc. (NYSE: MVL) today announced that it is converting all remaining approximately 3.3 million outstanding shares of its 8% Cumulative Convertible Exchangeable Preferred Stock (OTC BB: MVLEP; CUSIP No. 57383M207) at the stated conversion rate of 1.039 shares of Marvel Common Stock for each share of Convertible Preferred Stock. Pursuant to the terms of the Convertible Preferred Stock, Marvel is able to force the conversion of all outstanding Convertible Preferred Stock following the completion of 10 consecutive trading days in which Marvel's Common Stock closes above $11.55 per share. Tuesday, March 18 marked the 10th consecutive day of trading in which Marvel's closing share price met this criterion. Marvel will issue approximately 3.4 million shares of Common Stock in the conversion. No one-time charges are required for this action, as the conversion is taking place at the stated conversion ratio of the Convertible Preferred Stock.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Marvel Enterprises Inc., 8% Cumulative Convertible Exhangeable Preferred Stock, liquidation preference $10.00, maturing 10/01/2011, distributions are paid quarterly on 3/31, 6/30, 9/30 & 12/31 at the issuer's option in cash or additional preferred shares.
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Go to Parent Company's Record (MVL)
Market Value $122.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 10 East 40th Street, New York, NY 10016 |
| Main Phone Number |
212-576-4000 |
| Fax Number |
212-576-4017 |
| Public Relations
Richard Land
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212-835-8500
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Toll Free Phone Number |
Unknown |
| CEO - F. Peter Cuneo |
CFO - Ken West |
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