MEDINA, Ohio, March 9 /PRNewswire-FirstCall/ -- RPM International Inc. announced today, as required by the notice provisions of the Indenture related to its Senior Convertible Notes Due 2033, that the Notes are convertible during the company's fourth fiscal quarter.
As of the end of the company's third fiscal quarter, which ended February 28, 2007, the sale price of RPM's common stock exceeded the conversion trigger price per share as set forth in the Notes for at least 20 trading days in a period of 30 consecutive trading days ending on the last trading day of such fiscal quarter. Based on this condition, the Indenture provides that the Notes are convertible during the company's fourth fiscal quarter, which commenced on March 1, 2007. The holders of the Notes wishing to exercise their option to convert their Notes must follow the instructions and other conditions set forth in the Notes and the Indenture. Such right to convert based on the sale price of RPM's common stock may be extended, extinguished or reinstated in subsequent fiscal quarters depending on the sale price of RPM's common stock during the 30 consecutive trading days ending on the last trading day of the preceding fiscal quarter.
RPM International Inc., a holding company, owns subsidiaries that are world leaders in specialty coatings and sealants serving both industrial and consumer markets. RPM's industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and specialty chemicals. Industrial brands include Stonhard, Tremco, illbruck, Carboline, Day-Glo, Euco and Dryvit. RPM's consumer products are used by professionals and do-it- yourselfers for home maintenance and improvement, automotive and boat repair and maintenance, and by hobbyists. Consumer brands include Zinsser, Rust- Oleum, DAP, Varathane, Bondo and Testors.
For more information, contact P. Kelly Tompkins, executive vice president and chief administrative officer, at 330-273-8883 or
