Regal Entertainment adjusts conversion price for 3.75% convertibles

By Jennifer Chiou

New York, April 16 - Regal Entertainment Group modified the conversion price of its 3.75% convertible senior notes due May 15, 2008 to $13.0075 per share from $14.3556 per share, according to an 8-K report filed with the Securities and Exchange Commission.

The adjustment follows a $2.00-per-share extraordinary cash dividend to holders of Regal's class A and class B common stock on March 28.

Regal is a Knoxville, Tenn.-based operator of movie theaters. Its stock (NYSE: RGC) closed at $20.98 on Monday.

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