· Ford’s outstanding warrants to purchase common stock will expire on Jan. 1, 2013
· Because Jan. 1, 2013 is not a trading day, holders who wish to exercise their warrants must do so prior to the close of business on Dec. 31, 2012
· The New York Stock Exchange (NYSE) has notified Ford that trading in the warrants will be suspended after the close of business on Dec. 24, 2012
Ford Motor Company (NYSE: F) is reminding holders of its warrants to purchase Ford common stock (NYSE: F WS) (CUSIP Number 345370 134) (“Warrants”) that the Warrants will expire on Jan. 1, 2013 (the “Expiration Date”). The Warrants were issued on Dec. 11, 2009 and about 357,735,365 Warrants remain outstanding.
Each Warrant represents the right to purchase 1.0212 shares of Ford common stock, $0.01 par value per share, at an exercise price of $9.01 per share. The Warrants do not automatically exercise upon expiration. Any Warrant not exercised prior to the Expiration Date will expire unexercised and worthless and the holder thereof will not receive any shares of Ford common stock for such unexercised Warrants.
Because the Expiration Date of Jan. 1, 2013 is not a trading day on the New York Stock Exchange, holders will need to contact their broker or the Depository Trust Company (DTC) and have it exercise their Warrants on their behalf no later than Dec. 31, 2012. Because the Warrants are in Global Form, they will not be exercisable after DTC’s cutoff time for such exercises on Dec. 31, 2012. Holders who hold Warrants through DTC participants should contact their broker in advance as brokers may have earlier cut-off times.
NYSE Trading Suspension
The NYSE has notified Ford that trading in the Warrants on the NYSE will be suspended after the close of business Dec. 24, 2012 to ensure all trades in the Warrants settle in time to allow the purchasers of such Warrants to exercise the Warrants on or before Dec. 31, 2012.
Exercise and Settlement
Net share settlement is the only settlement option for Warrant exercises. This means that an exercising Warrant holder will receive for each Warrant a number of shares of Ford common stock equal in value to the difference between the exercise price and the last reported sales price of Ford common stock on the exercise date multiplied by 1.0212, together with cash in lieu of any fractional shares of Ford common stock.
A holder can obtain further information on exercising Warrants by contacting his or her broker or Computershare Trust Company N.A., the Company’s transfer agent and warrant agent. Brokers are encouraged to contact DTC in advance of the Expiration Date to confirm the procedures for exercising Warrants.
