HOUSTON, April 16 /PRNewswire-FirstCall/ -- ICO, Inc.
(Nasdaq: ICOC), a global producer of custom polymer powders and
plastic film concentrates, today announced that the Company's Board
of Directors has declared a cash dividend of $0.05 per common share, payable April 29, 2010, to shareholders of record as of
April 23, 2010.
(Logo:
http://www.newscom.com/cgi-bin/prnh/20030509/ICOCLOGO)
On December 2, 2009, the Company
announced the execution of a merger agreement with A. Schulman,
Inc. (Nasdaq: SHLM). The transaction is expected to close on
April 30, 2010, subject to approval
of ICO's shareholders at a special meeting scheduled for
April 28, 2010. The merger
agreement allows ICO to issue a quarterly dividend, not to exceed
$0.05 per common share, and the
Company has obtained the consent of its lenders to pay this
dividend.
"We are very pleased that our strong performance enables us to
pay the $0.05 per share dividend this
month," said A. John Knapp, Jr.,
President and Chief Executive Officer of ICO, Inc. "According
to our preliminary figures for the fiscal second quarter ended
March 31, 2010, our earnings results
have exceeded the financial targets called for under the merger
agreement allowing us to pay the dividend."
About ICO, Inc.
With 20 locations in 9 countries, ICO produces custom polymer
powders for rotational molding and other polymer related
businesses, such as the textile, metal coating and masterbatch
markets. ICO remains an industry leader in size reduction,
compounding and other tolling services for plastic and non-plastic
materials. ICO's Bayshore Industrial subsidiary produces specialty
compounds, concentrates and additives primarily for the plastic
film industry. Additional information about ICO, Inc. can be
found on the Company's website at www.icopolymers.com.
Contact: CFO – Bradley T.
Leuschner at 713-351-4100.
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995
A number of the matters discussed in this document that are not
historical or current facts deal with potential future
circumstances and developments, in particular, information
regarding expected synergies resulting from the merger of A.
Schulman and ICO, combined operating and financial data, the
combined company's plans, objectives, expectations and intentions
and whether and when the transactions contemplated by the merger
agreement will be consummated. The discussion of such matters
is qualified by the inherent risks and uncertainties surrounding
future expectations generally, and also may materially differ from
actual future experience involving any one or more of such matters.
Such risks and uncertainties include: the risk that the
businesses will not be integrated successfully; the risk that the
cost savings and any other synergies from the transaction may not
be fully realized or may take longer to realize than expected;
disruption from the transaction making it more difficult to
maintain relationships with customers, employees or suppliers; the
failure to obtain governmental approvals of the transaction on the
proposed terms and schedule, and any conditions imposed on the
combined company in connection with consummation of the merger; the
failure to obtain approval of the merger by the shareholders of ICO
and the failure to satisfy various other conditions to the closing
of the merger contemplated by the merger agreement; and the risks
that are described from time to time in A. Schulman's and ICO's
respective reports filed with the SEC, including A. Schulman's
annual report on Form 10-K for the year ended August 31, 2009, and quarterly report on Form
10-Q for the quarter ended February 28,
2010, and ICO's annual report on Form 10-K for the year
ended September 30, 2009, and
quarterly report on Form 10-Q for the quarter ended December 31, 2009, in each case, as such reports
may have been amended. This document speaks only as of its
date, and A. Schulman and ICO each disclaims any duty to update the
information herein.
Additional Information and Where to Find It
In connection with the proposed transaction, A. Schulman has
filed a Registration Statement on Form S-4 with the SEC (Reg. No.
333-164085) on December 30, 2009,
containing a preliminary proxy statement/prospectus, and
Amendment Nos. 1, 2 and 3 to the Registration Statement on
February 8, 2010, March 11, 2010, and March
22, 2010, respectively. SHAREHOLDERS OF ICO ARE
ENCOURAGED TO READ THE REGISTRATION STATEMENT AND ANY OTHER
RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE DEFINITIVE
PROXY STATEMENT/ PROSPECTUS THAT IS PART OF THE REGISTRATION
STATEMENT, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE
PROPOSED MERGER. The definitive proxy statement/prospectus has been
mailed to shareholders of ICO. Investors and security holders may
obtain the documents free of charge at the SEC's web site,
www.sec.gov, from A. Schulman, Inc. at its web site,
www.aschulman.com, or from ICO, Inc. at its web site,
www.icopolymers.com, or 1811 Bering Drive, Suite 200, Houston, Texas, 77057, attention: Corporate
Secretary.
Participants in Solicitation
A. Schulman and ICO and their respective directors and executive
officers, other members of management and employees and the
proposed directors and executive officers of the combined company,
may be deemed to be participants in the solicitation of proxies in
respect of the proposed merger. Information concerning the proposed
directors and executive officers of the combined company, A.
Schulman's and ICO's respective directors and executive officers
and other participants in the proxy solicitation, including a
description of their interests, is included in the definitive proxy
statement/prospectus filed by A. Schulman's (Reg. No. 333-164085)
with the SEC on March 29, 2010 and in
each company's Form 10-K, as amended, for the year ended
August 31, 2009 in respect of A.
Schulman and for the year ended September
30, 2009 in respect of ICO.
SOURCE ICO, Inc.