PITTSBURGH, June 11 /PRNewswire-FirstCall/ -- Maxim Crane Works Holdings, Inc. (OTC Pink Sheets: MXMC.PK) ("Maxim Crane Works" or the "Company"), announced today that it is postponing its 2007 Annual Meeting of Shareholders, originally scheduled for June 19, 2007, until it has completed its traditional "Dutch auction" tender offer to purchase up to 2,500,000 shares of its common stock, and share equivalents, at per share prices (which may vary among stockholders), not greater than $51.00 nor less than $45.75 per share. The tender offer commenced on June 4, 2007 and will expire, unless extended, at midnight, New York City time, on June 29, 2007. Maxim Crane Works intends to promptly reschedule its 2007 Annual Meeting as soon as practical following completion of the tender offer.
None of the Company, its Board of Directors, the dealer manager, or the information agent makes any recommendations to holders of shares and share equivalents as to whether to tender or refrain from tendering their shares (including shares underlying share equivalents) into the tender offer. Holders of shares and share equivalents must decide how many shares they will tender, if any, and the price within the stated range at which they will offer their shares for purchase by the Company.
The dealer manager for the tender offer is Goldman, Sachs & Co., and the information agent is D. F. King & Co., Inc. The depositary is American Stock Transfer & Trust Company. The offer to purchase, letters of transmittal and related documents are being mailed to holders of record of shares of common stock and share equivalents and also will be made available for distribution to beneficial owners of the Company's common stock.
This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell shares of Maxim Crane Holdings, Inc. common stock or share equivalents. The tender offer is being made only pursuant to the offer to purchase, letters of transmittal and related materials that the company will shortly be distributing to its holders of shares and share equivalents. Holders of shares and share equivalents and investors should read carefully the offer to purchase, letters of transmittal and related materials because they contain important information, including the various terms of, and conditions to, the tender offer. Holders of shares and share equivalents and investors may obtain a free copy of the offer to purchase, letters of transmittal and other documents by calling D. F. King & Co., Inc., the information agent for the tender offer, toll-free at (888) 549-6746. Holders of shares and share equivalents are urged to carefully read these materials prior to making any decision with respect to the tender offer.
About Maxim Crane Works
Maxim Crane Works, the nation's leading coast-to-coast, full-service crane rental company, currently operates over 35 branch offices in six regions. Maxim specializes in the rental and sale of cranes, aerial work platforms, rough-terrain telescopic forklifts, boom trucks and other ancillary equipment. With Maxim's expansive resource network, each branch has the capability to provide management, rigging, engineering and outsourcing, making Maxim's product and service offerings the most comprehensive in the industry. More information about Maxim can be found on the company's website at http://www.maximcrane.com/ .
Safe Harbor for Forward-Looking Statements
This press release contains statements that are not historical facts and constitute projections, forecasts or forward-looking statements. In addition, we or others on our behalf may make forward-looking statements from time to time in oral presentations, including telephone conferences and/or web casts open to the public, in press releases or reports, on our Internet web site or otherwise. Statements that are not historical are forward looking and reflect expectations and assumptions. These statements may be identified by the use of forward-looking words or phrases such as "intend," "plan," "may," "will," "project," "estimate," "anticipate," "believe," "expect," "continue," "potential," "opportunity" and similar expressions, whether in the negative or affirmative. We cannot guarantee that we actually will achieve these plans, intentions or expectations. All statements regarding our expected financial position, business and financing plans are forward-looking statements. A number of factors could cause our actual results, performance, or achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include risks related to our businesses as well as the factors relating to the transactions discussed in the offer to purchase. Holders of shares and share equivalents should not place undue reliance on the forward-looking statements, which speak only as to the date of the offer to purchase.
Contact: D. F. King & Co., Inc.
Tel. (888) 549-6746
