December 21, 2009 (FinancialWire) — Zions Bancorporation (NASDAQ: ZION) said the exchange ratio for its offer to exchange Zions’ common stock for any and all of its Depositary Shares representing its series A preferred stock.

The Exchange Offer will expire at 11: 59 p.m., New York City time, on December 21, 2009, unless Zions extends it or terminates it early (such date and time, as the same may be extended, the Expiration Date). As described in the Offer to Exchange, dated November 23, 2009, as amended and supplemented on December 3, 2009, the exchange ratio was calculated based on the average Volume Weighted Average Price, or “Average VWAP,” of the common stock for each of the five consecutive trading days ended December 17, 2009, which was $13.2056 per share.

The “Depositary Shares” each represent a 1/40th ownership interest in a share of series A Floating-Rate Non-Cumulative Perpetual preferred stock (the “series A preferred stock) with a liquidation preference of $25.00 per Depositary Share (equivalent to $1,000 per share of series A preferred stock).

The total number of shares of common stock issuable for each Depositary Share accepted will be 0.9844 (or $13.00 divided by $13.2056 with cash in lieu of any fractional share). Each tendering holder of Depositary Shares who would otherwise be entitled to receive a fraction of a share of common stock will receive cash, without interest, in an amount equal to the fractional share to which such holder would otherwise be entitled multiplied by $13.2056. In addition, Zions will also pay cash for any accrued and unpaid dividends to but excluding the settlement date on any Depositary Shares accepted in the Exchange Offer. In addition, You may withdraw Depositary Shares that you tender at any time before the Expiration Date. In addition, you may withdraw any tendered Depositary Shares if we have not accepted them for exchange within 40 business days from the commencement of the Exchange Offer on November 23, 2009.

Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). Recently issued reports and filings include F & C Capital & Income Investment Trust PLC (LSE: FCI), Sarantel Group PLC (LSE: SLG), Pharmacyclics, Inc. (NASDAQ: PCYC), Niusule Biotech Corp. (OTCBB: NIUS), JPMorgan European Investment Trust PLC (LSE: JFF), Ecofin Water & Power Opportunities PLC (LSE: ECWO), Invesco Property Income Trust Ltd. (LSE: IPI), Hansa Trust PLC (LSE: HAN) (OTC: FSBTF), Perpetual Income & Growth Investment Trust PLC (LSE: PLI), New India Investment Trust PLC (LSE: NII), JPMorgan Fleming Smaller Japanese Companies Investment Trust PLC (LSE: JPS), Edinburgh Investment Trust PLC (LSE: EDIN) (OTC: EHITF), Armour Group PLC (LSE: AMR), Bravo Venture Group Inc. (TSX Venture: BVG), Bellway PLC (London Stock Exchange: BWY) (OTC: BLWYF), Chase Corp. (AMEX: CCF), Continental Materials Corp. (AMEX: CUO), Amcon Distributing Company (AMEX: DIT), Eaton Vance Enhanced Equity Income Fund (NYSE: EOI), Majedie Investments PLC (London Stock Exchange: MAJE) (OTC: MJENF), Morgan Stanley Income Securities, Inc. (NYSE: ICB), Grainger PLC (London Stock Exchange: GRI) (OTC: GRTGF), Eaton Vance Insured Municipal Bond Fund (AMEX: EIM), PIMCO High Income Fund (NYSE: PHK) and Shaw Communications, Inc. (NYSE: SJR).

FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors by the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/). Recently webcast company presentations, financial results & earnings calls now available include InSite Vision, Inc. (OTCBB: INSV), LocatePLUS Holdings, Inc. (OTC: LPHC), Rentech, Inc. (AMEX: RTK), CytRx Corp. (NASDAQ: CYTR), Santarus, Inc. (NASDAQ: SNTS) ADVENTRX Pharmaceuticals, Inc. (AMEX: ANX), Aastrom Biosciences, Inc. (NASDAQ: ASTM), Methode Electronics, Inc. (NYSE: MEI), White Electronic Designs Corp. (NASDAQ: WEDC), Cantel Medical Corp. (EXCH: CMN), Frequency Electronics Inc. (EXCH: FEIM), Pep Boys-Manny, Moe & Jack (NYSE: PBY) and Xeta Technologies, Inc. (NASDAQ: XETA). Recordings are accessible via the search function at http://infoescrow.net/f/?u=http://www.investorcalendar.com by entering any company’s ticker symbol into the search field.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.