Washington Mutual, Inc. Extends Release Deadline to March 7, 2012 for Holders of Preferred and Common Stock in Connection With the Company's Seventh Amended Plan of Reorganization
SEATTLE, Feb. 17, 2012 /PRNewswire/ --Washington Mutual, Inc. (Pink Sheets: WAMUQ.PK) ("WMI" or the "Company") and the Official Committee of Equity Security Holders of Washington Mutual, Inc. ("the Equity Committee"), in connection with WMI's chapter 11 case and with respect to the Seventh Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code (as has been modified, the "Plan"), today announced that Washington Mutual, Inc. is extending the deadline for holders of WMI preferred and common stock in Classes 19 and 22, respectively, to grant the releases set forth in Section 41.6 of the Plan until MARCH 7, 2012 (the "Release Deadline").
Pursuant to the order approving solicitation procedures for the Plan, the Release Deadline for holders in WMI preferred and common stock, in Classes 19 and 22, had originally been set as February 28, 2012.
As previously recommended by the Company and the Equity Committee, if you are a holder that holds WMI common or preferred stock through a bank or broker, you should NOT send your ballot to the Company's solicitation and tabulation agent, Kurtzman Carson Consultants, LLC ("KCC"). Rather, your ballot must be returned TO THE BANK OR BROKER and NOT KCC.
If stockholders return ballots without having checked the box opting out of granting the releases set forth in Section 41.6 of the Plan in sufficient time to permit the bank or broker to "block" the positions and return all ballots to KCC before the Release Deadline, those stockholders will be entitled to receive a distribution under the Plan. DO NOT DELAY IN RETURNING YOUR BALLOTS. Stockholders should allow enough lead time to make sure ballots are received by the bank or broker well in advance of the Release Deadline. Stockholders who elect to not grant the releases set forth in Section 41.6 of the Plan by checking the "opt out" box on the ballot will NOT receive any distribution under the Plan.
Again, note that, if you are a holder that holds WMI common or preferred stock through a bank or broker, your ballot must be returned TO THE BANK OR BROKER and NOT KCC.
Holders of WMI preferred and common stock are urged to contact KCC if they have any questions or need electronic access to a voting ballot. Similarly, banks and brokers that are voting nominees of beneficial owners of WMI preferred and common stock are urged to contact KCC if they have any questions.
WMI's Plan and Disclosure Statement are available at www.kccllc.net/wamu.
SOURCE Washington Mutual, Inc.
© 2012 PR Newswire
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