NEW ORLEANS, May 6, 2011 (GLOBE NEWSWIRE) -- Westway Group, Inc. (Nasdaq:WWAY) ("Westway" or the "Company") stated that the Company's publicly traded warrants (Nasdaq:WWAYW) will expire in accordance with their terms on Tuesday, May 24, 2011 at 5 P.M. New York time. At that time the Company's publicly traded units (Nasdaq:WWAYU), comprised of one share of Class A Common stock (WWAY) and two warrants (WWAYW), will separate and the remaining share of Class A Common stock will trade under the stock symbol WWAY.
Any holder of the Company's warrants may exercise the warrant in accordance with its terms prior to 5 P.M. New York time on May 24, 2011, in order to receive one share of the Company's Class A Common stock for each warrant exercised.
However, the Company indicated that there will not be a Broker Protect Period. Therefore, trading of the warrants and units in the public market will be suspended by NASDAQ at the open of business on May 20, 2011, which is 3 days before the expiration date, to allow sufficient time for the settlement of any market trades before the securities expire.
About Westway Group, Inc. Westway is a leading provider of bulk liquid storage and related value-added services and a leading manufacturer and distributor of liquid animal feed supplements.
The Westway Group, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7654
CONTACT: Thomas A. Masilla, Jr. Chief Financial Officer 504-636-4245 firstname.lastname@example.org