If a shareholder holds DPL common stock certificates, he is to complete the transmittal letter and mail it to Citibank with the certificates. If Citibank finds no problems with the documents, it is to mail payment to the shareholder within seven business days, AES said.
If a shareholder has uncertified or book entry shares, as is the case when shares are held by a broker, the shareholder will receive similar instructions, AES said. In this case, the shareholder will not surrender certificates and may receive further instructions from the broker, according to AES.
DPL said that, as a result of the merger, it has merged its employee stock ownership plan into DPL’s 401(k) plan so that stockholders could invest their share of the proceeds from AES into investments offered through the 401(k) plan.
Stock that was held in the ESOP accounts has been ex-changed for $30 per share, DPL said. That money will be held for up to several months during processing, but will draw interest, until those funds are transferred to retirement accounts within the 401(k) when account holders can sell the funds or exchange them for other funds within the 401(k), DPL said.
AES committed to buy all of DPL’s common stock. DPL said it will continue to pay dividends to holders of its preferred shares.
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