NYMEX Holdings, Inc. announced that the NYMEX Board of Directors and the COMEX Governors Committee have reached an agreement in principle today regarding COMEX Division member rights, including electronic trading rights. The terms of the transaction will include the issuance of NYMEX common stock. Details of the transaction will be disclosed upon completion of a definitive agreement.
The transaction is subject to a number of conditions, including the completion of a definitive agreement, final approvals by the NYMEX Board of Directors and the COMEX Governors Committee, COMEX member approval, NYMEX shareholder approval, and applicable regulatory approvals. There can be no assurance that this transaction will be completed.
As a result of this contemplated transaction, the COMEX Board of Governors has approved the temporary suspension of trading in COMEX memberships, effective immediately, pending completion of a definitive agreement or the termination of discussions.
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state.
