RICHMOND, Va., Aug. 12 /PRNewswire-FirstCall/ -- Genworth Financial, Inc.
(NYSE: GNW) today filed a shelf registration statement on Form S-3 with the
Securities and Exchange Commission (SEC) registering for possible future sales
any or all of the 243.2 million shares of Genworth common stock currently held
by an affiliate of General Electric Company (NYSE: GE).
The registration statement was filed in connection with GE's stated intent
that, subject to market conditions, it expects to reduce its ownership in
Genworth in an orderly manner over the next two years as Genworth transitions
to full independence.
Once declared effective by the SEC, the shelf registration statement will
permit GE to offer and sell all or part of its current 52 percent equity
interest in Genworth over time through a series of transactions. However, the
filing of the shelf registration statement does not obligate GE to sell any
shares. At such time that any securities are offered for sale, a prospectus
supplement will be provided containing specific information about the terms of
any such offering. Genworth will not receive any proceeds from any sale of
shares by GE.
The registration statement relating to these securities has not yet become
effective. These securities may not be sold, nor may offers to buy be
accepted, prior to the time the registration statement becomes effective.
This announcement shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any state
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state.
About Genworth Financial
Genworth (NYSE: GNW) is a leading insurance holding company, serving the
lifestyle protection, retirement income, investment and mortgage insurance
needs of more than 15 million customers, and has operations in 23 countries,
including the U.S., Canada, Australia, the U.K., and more than a dozen other
European countries. For more information, visit http://www.genworth.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995. Forward-
looking statements may be identified by words such as "expects," "intends,"
"anticipates," "plans," "believes," "seeks," "estimates," "will," or words of
similar meaning and include, but are not limited to, statements regarding the
outlook for the company's future business and financial performance. Forward-
looking statements are based on management's current expectations and
assumptions, which are subject to inherent uncertainties, risks and changes in
circumstances that are difficult to predict. Actual outcomes and results may
differ materially due to global political, economic, business, competitive,
market, regulatory and other factors.
SOURCE Genworth Financial, Inc.
CONTACT: Investors: Alicia Charity, +1-804-662-2248,
firstname.lastname@example.org; or Media: Tom Topinka, +1-804-662-2444,
email@example.com, both of Genworth Financial, Inc.