USEC Sets Effective Date For Emergence From Chapter 11 Bankruptcy - Quick Facts

(RTTNews) - USEC Inc. (USU) said it expects to complete the final steps necessary to emerge from its Chapter 11 restructuring on September 30, 2014, under the name Centrus Energy Corp. The firm's new common shares are likely to commence trading on the New York Stock Exchange or NYSE under the ticker "LEU" on that date.

The company's Plan of Reorganization was confirmed on September 5, which was the last major court action in the Chapter 11 bankruptcy process that USEC began March 5, 2014. Details regarding the cancellation of existing securities and the issuance of new LEU common stock and new notes are set forth in USEC's Plan of Reorganization, which is summarized in and attached to a Form 8-K filing issued by the Company on September 5. Holders of record as of September 29 need not take any action as the existing securities are expected to be cancelled prior to the opening of trading on September 30, and new securities would be distributed electronically via. the Depository Trust Corp. or the company's transfer agent Computershare on September 30.