Kansas City Southern holders convert all series C 4.25% convertible preferreds

By Jennifer Chiou

New York, July 16 - Kansas City Southern said that holders of all of its series C 4.25% redeemable cumulative convertible perpetual preferred shares elected to convert their securities ahead of the July 15 redemption date.

As a result, the company issued 13,389,109 shares and also paid a cash amount of $492.35 in lieu of fractional shares.

The preferreds were to be redeemed at $500 each.

The company intended to pay the full redemption amount in cash.

Holders elected to convert each preferred into 33.4728 common shares. Each converted preferred is also entitled to receive an appropriate number of stock purchase rights under the company's 2005 rights agreement. All converted preferreds stopped accumulating dividends on the day immediately preceding the conversion date.

The agent for the redemption and conversion agent was Computershare, Inc. (800 884-4225).

Based in Kansas City, Mo., Kansas City Southern is a transportation holding company.

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