Interpool gets noteholders' permission to delay shareholder vote for issuing warrants

By Ted A. Knutson

Washington, May 3 - Interpool, Inc. said holders of a majority of the principal amount of its 6% notes due 2014 and stock purchase warrants have agreed to extend the deadline for the company to seek shareholder approval for ratifying issuance of series B warrants.

The new deadline will be June 30 instead of April 30.

The agreement also provides that if stockholder approval of the issuance of common stock pursuant warrants is not obtained before June 30, the series B warrants holders will have the right to receive cash from Interpool equal to 105% of the current market price of the company's common stock on the day before exercise.

The Princeton, N.J.-based transport equipment manufacturer made the announcement in an 8-K filing with the Securities and Exchange Commission.

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