Exhibit 99.1
Continental Global Group, Inc. For Release: September 2, 2004
P.O. Box 400
438 Industrial Drive
Winfield, AL 35594
Contact: Jimmy Dickinson
(205) 487-6492
CONTINENTAL GLOBAL GROUP, INC.
EXTENDS DEADLINE FOR TENDER OF 11% SENIOR NOTES DUE 2007
TO SEPTEMBER 17, 2004
Winfield, Alabama -- Press Release
Amendment to the Offer to Exchange and Consent Solicitation Statement
CONTINENTAL GLOBAL GROUP, INC.
Offer to Exchange Cash and
9% Series A Senior Secured Notes due 2008 and
13% Series B Senior Secured Notes due 2008
For All Outstanding
11% Senior Notes due 2007
($120 million aggregate principal amount outstanding)
This Amendment ("Amendment") amends the Offer to Exchange and Consent
Solicitation Statement dated August 4, 2004 (the "Statement") and the
accompanying Letter of Transmittal and Consent, relating to the Exchange Offer
being made by Continental Global Group, Inc. (the "Company"), with respect to
its outstanding 11% Senior Notes due 2007 (the "Old Notes"). Unless otherwise
defined herein, capitalized terms used herein have the same meanings as in the
Statement.
As of September 2, 2004, the number of Old Notes tendered or with
respect to which consents have been given pursuant to the Exchange Offer was
approximately $98,215,000 or 81.8% of the $120,000,000 outstanding. The Company
hereby extends until 5:00 p.m., New York City time, on September 17, 2004, the
date upon which it will accept additional tenders of Old Notes.
Procedures for tendering Old Notes are set forth under "Procedures for
Tendering Old Notes and Delivering Consents" in the Statement. Holders tendering
Old Notes may continue to use the Letter of Transmittal and Consent and the
Notice of Guaranteed Delivery circulated with the Statement. Holders of Old
Notes who previously have validly tendered their Old Notes and/or delivered
their Consents pursuant to the Exchange Offer are not required to take any
further action.
Except as set forth above, all terms and conditions of the Exchange
Offer set forth in the Statement and the accompanying Letter of Transmittal and
Consent remain unchanged and in full force and effect, and this Amendment should
be read in conjunction therewith.
- -------------------------------------------------------------------------------
NO TENDERS OF OLD NOTES WILL BE ACCEPTED AFTER 5:00 P.M., NEW YORK CITY TIME,
ON SEPTEMBER 17, 2004.
- -------------------------------------------------------------------------------
None of the Company or any other person is making a recommendation as
to whether or not holders of the Old Notes should tender their Old Notes
pursuant to the Exchange Offer or consent to the Proposed Amendments to the
Existing Indenture and the Old Notes.
-------------------
September 2, 2004