Triarc Sets Date for Distribution of DFR Common Stock
March 19 2008 - 5:24PM
Business Wire
As previously announced, Triarc Companies, Inc. (NYSE: TRY; TRY.B)
said today, to complete its transition to a �pure play� restaurant
company, it will distribute 9,835,010 shares of common stock (the
�Deerfield Shares�) of Deerfield Capital Corp. (�DFR�) to holders
of Triarc�s Class A Common Stock and Class B Common Stock through a
special dividend. The special dividend will be accomplished through
a pro rata distribution of the Deerfield Shares to Triarc
stockholders of record as of March 29, 2008. Based on the number of
Triarc shares currently outstanding, holders of Triarc�s Class A
Common Stock and Triarc�s Class B Common Stock will receive
approximately 0.106028 Deerfield Shares for each share of Class A
Common Stock and/or Class B Common Stock held as of the record
date. The final distribution ratio will be set on the record date
and will be calculated by dividing the Deerfield Shares by the
total number of shares of Triarc�s Class A Common Stock and Class B
Common Stock outstanding on March 29. Stockholders will receive a
pro rata cash distribution in lieu of receiving fractional shares.
The special dividend of the Deerfield Shares will be payable on
April 4, 2008. Triarc stockholders will not be required to take any
action to receive Deerfield Shares on the distribution date.
American Stock Transfer & Trust Company, Triarc�s transfer
agent (tel. # 1-800-937-5449; info@amstock.com), is serving as the
distribution agent for the special dividend. DFR�s common stock is
listed on the New York Stock Exchange under the symbol �DFR.� The
Deerfield Shares received by holders of Class A Common Stock and
Class B Common Stock will be freely tradeable by such holders. The
distribution of the Deerfield Shares will generally be taxable to
Class A Common Stock and Class B Common Stock holders for Federal
income tax purposes. Under applicable Federal income tax laws, the
value for Federal income tax purposes of the distribution will be
determined by the trading price of the Deerfield Shares on the date
of distribution to Triarc�s stockholders. Stockholders are advised
to consult with their own tax advisors regarding the application of
Federal, state, local and foreign tax laws to them with respect to
this matter. Triarc is a holding company and, through its
subsidiaries, is currently the franchisor of the Arby's restaurant
system which is comprised of approximately 3,700 restaurants, of
which, as of December 30, 2007, 1,106 were owned and operated by
our subsidiaries. NOTES TO PRESS RELEASE There can be no assurance
that any additional regular or special dividends will be declared
or paid, or of the amount or timing of such dividends, if any.
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