Northbrook, Illinois, USA, 04 August 2009 -- /PRNewswire/ -- KapStone Paper and Packaging Corporation (Nasdaq: KPPC) confirmed today that it will provide a three-day broker protection period in connection with its warrants trading under the ticker symbol "KPPCW" on the NASDAQ exchange.
Warrant holders have until 4:00 p.m. Eastern Time on 17 August 2009, to execute their warrants, and the warrant holders' brokers have until 4:00 p.m. Eastern Time on 20 August 2009, to complete the transaction with the transfer agent, American Stock Transfer.
The company had previously announced that the expiration date for its approximately 37 million outstanding warrants, dated as of 19 August 2005, has been extended through 17 August 2009. The original expiration date was set for 15 August 2009. Each warrant entitles the holder to exchange one warrant plus USD 5.00 for one share of Kapstone Paper and Packaging Corporation common stock.
Among the warrants expiring on 17 August 2009, are those warrants comprising a part of the units of the company trading on the Over-the Counter Bulletin Board under the symbol "KPPCU.OB." Each unit consists of one share of common stock of the company and two warrants.
Headquartered in Northbrook, Illinois, KapStone Paper and Packaging Corporation is a leading North American producer of unbleached kraft paper products and linerboard. The company is the parent company of KapStone Kraft Paper Corporation, which includes paper mills in Roanoke Rapids, North Carolina, and North Charleston, South Carolina, a lumber mill in Summerville, South Carolina, and five chipping mills in South Carolina. The business employs approximately 1550 people.