-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UwgFHeE9BmhwvVSDAGfFQqyPUYKJDONG5p5ZmuQR1gSowOaB4wdJbB9xeANkBrBZ sKB9s3LaOwBfuww3+Plr/A== 0000950123-01-002458.txt : 20010321 0000950123-01-002458.hdr.sgml : 20010321 ACCESSION NUMBER: 0000950123-01-002458 CONFORMED SUBMISSION TYPE: 425 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20010320 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN GENERAL CORP /TX/ CENTRAL INDEX KEY: 0000005103 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 740483432 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 425 SEC ACT: SEC FILE NUMBER: 001-07981 FILM NUMBER: 1572964 BUSINESS ADDRESS: STREET 1: 2929 ALLEN PKWY CITY: HOUSTON STATE: TX ZIP: 77019 BUSINESS PHONE: 7135221111 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL PLC CENTRAL INDEX KEY: 0001116578 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 000000000 STATE OF INCORPORATION: X0 FILING VALUES: FORM TYPE: 425 BUSINESS ADDRESS: STREET 1: LAURENCE POUNTNEY HILL STREET 2: LONDON, ENGLAND CITY: EC4R OHH STATE: X0 ZIP: 00000 BUSINESS PHONE: 011442075483737 MAIL ADDRESS: STREET 1: LAURENCE POUNTNEY HILL STREET 2: LONDON, ENGLAND CITY: EC4R OHH STATE: X0 ZIP: 00000 425 1 y46544ge425.txt 425 1 Filed by: Prudential plc Pursuant to Rule 425 under the Securities Act of 1933 Subject Company: American General Corporation Exchange Act Commission File No: 001-07981 Prudential plc and American General Corporation (the "Company") will be filing a proxy statement/prospectus and other relevant documents concerning the proposed transaction with the SEC. INVESTORS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ON THE PROPOSED TRANSACTION. Investors will be able to obtain the document free of charge at the SEC's website (www.sec.gov). In addition, documents filed with the SEC by Prudential plc and the Company may be obtained free of charge by contacting Prudential plc, Laurence Pountney Hill, London, EC4R OHH, England, Attention: Investor Relations (tel.: (44 20) 7548 3537), and the Company, 2929 Allen Parkway, Houston, Texas, 77019, Attention: Investor Relations (tel.: (713) 522-1111). INVESTORS SHOULD READ THE PROXY STATEMENT/PROSPECTUS CAREFULLY WHEN IT BECOMES AVAILABLE BEFORE MAKING ANY VOTING OR INVESTMENT DECISION. The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from Company shareholders. The directors and executive officers of the Company include: J. Evans Attwell, Brady F. Carruth, W. Lipscomb Davis Jr., J. Edward Easler II, Larry D. Horner, Richard J.V. Johnson, Morris J. Kramer, Michael E. Murphy, Michael J. Poulos, Robert E. Smittcamp, Anne M. Tatlock, Robert M. Devlin, Mark S. Berg, James P. Corcoran, David W. Entrekin, Frederick W. Geissinger, John A. Graf, John V. LaGrasse, Rodney O. Martin Jr., Nicholas R. Rasmussen, Gary D. Reddick and Richard W. Scott. Collectively, as of February 28, 2001, the directors and executive officers of the Company beneficially owned approximately 2% of the outstanding shares of the Company's common stock. Shareholders may obtain additional information regarding the interests of such participants by reading the proxy statement/prospectus when it becomes available. 2 THE FOLLOWING ARE SLIDES FOR USE IN ROADSHOW PRESENTATIONS. 3 [PRUDENTIAL LOGO] AMERICAN GENERAL FINANCIAL GROUP CALCULATION OF SPECIAL DIVIDEND TO AGC SHAREHOLDERS - - SPECIAL DIVIDEND AT CLOSING EQUALS DIFFERENCE BETWEEN DIVIDENDS OF RECORD FROM SIGNING TO CLOSE - -------------------------------------------------------------------------------- Analysis of Dividends Paid to AGC Shareholders from Signing to Closing Exchange Rate (USD per GBP) 1.46 Exchange Ratio (x) 3.662
Dividend Amount(1) Dividend to ------------------------------------ Record Date Pay Date Pence USD AGC Shareholders - ------------------------------------------------------------------------------------------------------------------- CLOSING ON OR BEFORE AUGUST 9TH Prudential March 30th May 30th 16.3p x1.46 exchg. rate= $0.24 x3.66 merger ratio= $0.87 AGC May 10th June 1st $0.24 Deduct 0.24 ----- SPECIAL DIVIDEND PAID ON OR ABOUT CLOSE $0.63 ===== CLOSING ON OR AFTER AUGUST 10TH AGC Aug. 10th Sep. 1st 0.24 Deduct 0.24 ----- SPECIAL DIVIDEND PAID ON OR ABOUT CLOSE $0.39 - -------------------------------------------------------------------------------------------------------------------
NOTE: 1 Assumes current Pound-to-Dollar exchange rate 4 [PRUDENTIAL LOGO] AMERICAN GENERAL FINANCIAL GROUP EXAMPLE OF DIVIDEND TAXATION FOR U.S. HOLDERS - --------------------------------------------------------------- GROSS VS. NET DIVIDEND - --------------------------------------------------------------- Announced Dividend $100.00 Add: Notional Tax Credit Gross-Up $11.11 (1/9 of announced dividend) GROSS DIVIDEND $111.11 Less: U.K. Withholding Tax ($11.11) (lesser of Notional Tax Credit or 15% of Gross Dividend) NET PRE-TAX DIVIDEND PAID $100.00 - --------------------------------------------------------------- - - ASSUME A $100 DIVIDEND IS ANNOUNCED - - NOTIONAL TAX CREDIT IS AWARDED TO U.S. HOLDERS, EQUAL TO 1/9 OF $100, OR $11 - - NOTIONAL TAX CREDIT IS OFFSET BY A U.K. WITHHOLDING TAX EQUAL TO THE LESSER OF 15% OF THE GROSS DIVIDEND OR THE AMOUNT OF THE TAX CREDIT - - THEREFORE, THE SHAREHOLDER RECEIVES $100 PRE-TAX (NET DIVIDEND) -----END PRIVACY-ENHANCED MESSAGE-----