Pulte Homes, Inc. (NYSE: PHM) today announced it has entered into a
second amendment (the “Rights Amendment”) to the Section 382 Rights
Agreement between Pulte and Computershare Trust Company, N.A., as rights
agent, dated as of March 5, 2009 as amended as of April 7, 2009 (as
amended, the “Rights Plan”).
The Rights Amendment made a number of revisions to the expiration date
of the rights. If the Pulte shareholders do not approve the Rights Plan
at the 2010 Annual Meeting of Shareholders, it will expire on June 1,
2010. The final expiration date was changed from March 16, 2019 to June
1, 2013.
The Rights Amendment revised the definition of beneficial ownership to
mean securities which such person directly owns, or would be deemed to
constructively own, pursuant to Section 382 of the Internal Revenue Code
and related regulations.
“Pulte’s Board of Directors is submitting the Rights Plan for
shareholder approval in response to shareholder concerns expressed at
our 2009 annual meeting,” said Richard J. Dugas, Jr., Chairman,
President and CEO of Pulte Homes, Inc. “The Board remains on track to
address the other recommendations put forth by the Board’s nominating
and governance committee regarding declassification of the Board in time
for action at the 2010 annual meeting.”
About Pulte Homes
Pulte Homes, Inc., based in Bloomfield Hills, Mich., is America’s
largest home building company with operations in 29 states and the
District of Columbia. The Company has an unmatched capacity to meet the
needs of all buyer segments through its brand portfolio that includes
Pulte Homes, Centex and Del Webb, as well as its regional brands of
DiVosta Homes (Florida) and Fox & Jacobs (Texas). Pulte Mortgage LLC is
a nationwide lender offering Pulte customers a wide variety of loan
products and superior service.
Web sites: www.pulteinc.com;
www.pulte.com;
www.centex.com;
www.delwebb.com;
www.divosta.com;
www.foxandjacobs.com.
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