EX-99.(C)(20) 21 a09194a1exv99wxcyx20y.htm EXHIBIT 99.(C)(20) exv99wxcyx20y
 

Exhibit 99(c)(20)

Mercury Air Group, Inc.
Cash to Buyout Fractional Shares at Various Premiums

                                         
    Price As of:  
            Previous 10     Previous 20     Previous 30        
Date:   Today     Trading Days     Trading Days     Trading Days     1-Month  
Price:
   $ 3.41     $ 3.59     $ 3.54     $ 3.61     $ 3.53  
 
                                        
18% Premium:
   $ 4.02     $ 4.24     $ 4.18     $ 4.26     $ 4.17  
20% Premium:
   $ 4.09     $ 4.31     $ 4.25     $ 4.33     $ 4.24  
22% Premium:
   $ 4.16     $ 4.38     $ 4.32     $ 4.40     $ 4.31  
24% Premium:
   $ 4.23     $ 4.46     $ 4.39     $ 4.47     $ 4.38  
 
                                        
Fractional Shares Estimate:
   192,613                                
 
                                        
Cash to Buy Shares
                                        
18% Premium:
   $ 775,036     $ 816,856     $ 804,697     $ 819,584     $ 803,028  
20% Premium:
   $ 788,172     $ 830,701     $ 818,336     $ 833,475     $ 816,639  
22% Premium:
   $ 801,309     $ 844,546     $ 831,975     $ 847,366     $ 830,249  
24% Premium:
   $ 814,445     $ 858,391     $ 845,613     $ 861,257     $ 843,860  

 

(MERCURY HISTORICAL STOCK PRICE AND TRADING VOLUME CHART)

                 
Trading History
  
    Average     Average  
    Price     Volume  
Previous 10 Trading Days
   $ 3.59       17,650  
Previous 30 Trading Days
   $ 3.61       8,860  
Previous 60 Trading Days
   $ 3.88       10,127  
Previous 90 Trading Days (a)
   $ 3.88       19,658  
Previous 120 Trading Days (a)
   $ 3.75       20,742  
Previous 150 Trading Days (a)
   $ 4.01       18,096  
Previous 180 Trading Days (a)
   $ 4.22       15,910  
Previous 52-Weeks (a)
   $ 4.73       12,763  
Previous 2 Years (a)
   $ 5.54       8,742  
 
                
52-Week High
   $ 8.45  (b)     226,300  
52-Week Low
   $ 3.08  (c)     0  
 
                
(a)   Average prices have been adjusted to exclude the Special Dividend.
 
(b)   Occurred on November 5, 2004, the day the special dividend was paid.
 
(c)   Occurred on November 8, 2004, the first trading day after the special dividend was paid.