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LM » Topics » Other Information

This excerpt taken from the LM 10-Q filed Aug 7, 2008.

Item 5.    Other Information   


On June 19, 2008 the Company purchased $57 million in face amount of securities issued by a structured investment vehicle from a money market fund managed by one of its subsidiaries (the “Fund”).  The Company had previously acquired a letter of credit from a large bank to support the Fund’s investment in these securities.  Upon the purchase of the securities, the letter of credit and a related letter agreement among the Company, the Company’s subsidiary The Baltimore Company and the Fund, the Prime Cash Reserves Portfolio, a series of Master Portfolio Trust, were terminated in accordance with their terms. Under the letter of credit and related agreement, the Fund was able to draw up to $35 million under the letter of credit if it realized a loss on disposition or restructuring of the securities. In addition, the Fund was required to draw on the full amount of the letter of credit upon the expiration of its one year term if the Fund continued to hold the securities and the securities had not been restructured into securities that met certain requirements.





37




Item 6.    Exhibits

 

3.1

Articles of Incorporation of Legg Mason (incorporated by reference to Legg Mason’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2006)

 

 

3.2

By-laws of Legg Mason as amended and restated January 23, 2007 (incorporated by reference to Legg Mason, Inc.’s Current Report on Form 8-K for the event on January 23, 2007)

4.1

Form of Purchase Contract and Pledge Agreement, among Legg Mason, Inc. and The Bank of New York as Purchase Contract Agent and The Bank of New York as Collateral Agent, Custodial Agent and Securities Intermediary (incorporated by reference to Legg Mason’s Current Report on Form 8-K for the event on May 6, 2008)

4.2

Form of Corporate Units and Treasury Units (included in Exhibit 4.1)

4.3

Form of First Supplemental Indenture, between Legg Mason, Inc. and The Bank of New York, as Trustee (incorporated by reference to Legg Mason’s Current Report on Form 8-K for the event on May 6, 2008)

4.4

Form of 5.60% senior notes due June 30, 2021 (included in Exhibit 4.3)

10.1

$125 million Capital Support Agreement dated June 30, 2008 among Legg Mason, Inc., LM Capital Support V, LLC and the Western Asset Money Market Fund (incorporated by reference to Legg Mason’s Current Report on Form 8-K for the event on June 30, 2008)

10.2

$55 million Capital Support Agreement dated June 30, 2008 among Legg Mason, Inc., LM Capital Support V, LLC and the Western Asset Money Market Fund (incorporated by reference to Legg Mason’s Current Report on Form 8-K for the event on June 30, 2008)

10.3

$20 million Capital Support Agreement dated June 30, 2008 among Legg Mason, Inc., LM Capital Support V, LLC and the Legg Mason Global Funds plc (incorporated by reference to Legg Mason’s Current Report on Form 8-K for the event on June 30, 2008)

12

Computation of consolidated ratios of earnings to fixed charges

 

 

31.1

Certification of Chief Executive Officer

 

 

31.2

Certification of Chief Financial Officer

 

 

32.1

Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

 

 

32.2

Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002



38




SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.



 

LEGG MASON, INC.

 

(Registrant)

 

 

 

 

 

 

 

 

DATE:   August 7, 2008

/s/ Mark R. Fetting

 

Mark R. Fetting

 

President and

 

Chief Executive Officer

 

 

 

 

 

 

 

 

DATE:   August 7, 2008

/s/ Charles J. Daley, Jr.

 

Charles J. Daley, Jr.

 

Senior Vice President,

 

Chief Financial Officer  

and Treasurer




39




INDEX TO EXHIBITS

 

3.1

Articles of Incorporation of Legg Mason (incorporated by reference to Legg Mason’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2006)

 

 

3.2

By-laws of Legg Mason as amended and restated January 23, 2007 (incorporated by reference to Legg Mason, Inc.’s Current Report on Form 8-K for the event on January 23, 2007)

4.1

Form of Purchase Contract and Pledge Agreement, among Legg Mason, Inc. and The Bank of New York as Purchase Contract Agent and The Bank of New York as Collateral Agent, Custodial Agent and Securities Intermediary (incorporated by reference to Legg Mason’s Current Report on Form 8-K for the event on May 6, 2008)

4.2

Form of Corporate Units and Treasury Units (included in Exhibit 4.1)

4.3

Form of First Supplemental Indenture, between Legg Mason, Inc. and The Bank of New York, as Trustee (incorporated by reference to Legg Mason’s Current Report on Form 8-K for the event on May 6, 2008)

4.4

Form of 5.60% senior notes due June 30, 2021 (included in Exhibit 4.3)

10.1

$125 million Capital Support Agreement dated June 30, 2008 among Legg Mason, Inc., LM Capital Support V, LLC and the Western Asset Money Market Fund (incorporated by reference to Legg Mason’s Current Report on Form 8-K for the event on June 30, 2008)

10.2

$55 million Capital Support Agreement dated June 30, 2008 among Legg Mason, Inc., LM Capital Support V, LLC and the Western Asset Money Market Fund (incorporated by reference to Legg Mason’s Current Report on Form 8-K for the event on June 30, 2008)

10.3

$20 million Capital Support Agreement dated June 30, 2008 among Legg Mason, Inc., LM Capital Support V, LLC and the Legg Mason Global Funds plc (incorporated by reference to Legg Mason’s Current Report on Form 8-K for the event on June 30, 2008)

12

Computation of consolidated ratios of earnings to fixed charges

 

 

31.1

Certification of Chief Executive Officer

 

 

31.2

Certification of Chief Financial Officer

 

 

32.1

Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

 

 

32.2

Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002




40



This excerpt taken from the LM 10-Q filed Nov 9, 2007.

    Other Information


In November 2007 we borrowed $500 million in debt under our revolving credit facility.  See Managements Discussion and Analysis of Financial Condition and Results of Operations – Liquidity.  




26




Item 6.    Exhibits

 

3.1

Articles of Incorporation of Legg Mason (incorporated by reference to Legg Mason’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2006)

 

 

3.2

By-laws of Legg Mason as amended and restated January 23, 2007 (incorporated by reference to Legg Mason, Inc.’s Current Report on Form 8-K for the event on January 23, 2007)

 

 

10

Legg Mason & Co., LLC Deferred Compensation/ Phantom Stock Plan

 

 

12

Computation of consolidated ratios of earnings to fixed charges

 

 

31.1

Certification of Chief Executive Officer

 

 

31.2

Certification of Chief Financial Officer

 

 

32.1

Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

 

 

32.2

Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002




27




This excerpt taken from the LM 10-Q filed Nov 7, 2006.

Item 5.    Other Information


On July 31, 2006, Legg Mason’s wholly owned subsidiary, Permal Group Ltd., entered into a four-year agreement with a financial institution to finance, on a non-recourse basis, commissions to be paid to financial intermediaries in connection with future sales of certain share classes of proprietary funds.  The maximum amount that may be financed under the agreement is $90 million.    



40




This excerpt taken from the LM 10-Q filed Feb 9, 2006.

Item 5.    Other Information


In the acquisition of Permal Group on November 3, 2005, Legg Mason, Inc. issued 1,889,322 shares of common stock to the stockholders of Permal as a portion of the consideration payable in the transaction.  The issuance of this common stock was made pursuant to an exemption from registration provided by Section 4(2) of the Securities Act of 1933, as amended.  




39





EXCERPTS ON THIS PAGE:

10-Q
Aug 7, 2008
10-Q
Nov 9, 2007
10-Q
Nov 7, 2006
10-Q
Feb 9, 2006

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