Phosphate Resource Partners Limited Partnership to Make No Cash Distribution for the Quarter Ended March 31, 2004
04 Maio 2004 - 9:28AM
PR Newswire (US)
Phosphate Resource Partners Limited Partnership to Make No Cash
Distribution for the Quarter Ended March 31, 2004 LAKE FOREST,
Ill., May 4 /PRNewswire-FirstCall/ -- Phosphate Resource Partners
Limited Partnership today announced that it will not make a cash
distribution for the quarter ended March 31, 2004. As referred to
in the PLP Form 10-Ks for the years ended December 31, 2003,
December 31, 2002 and December 31, 2001, PLP anticipates that for
the foreseeable future any available cash will be used to reduce
outstanding debt with IMC Global Inc. (NYSE:IGL), the indirect 51.6
percent owner of PLP and parent of PRP-GP LLC, the administrative
managing general partner of PLP. As a result, no PLP cash
distributions are planned in the foreseeable future. PLP is engaged
in the production and sale of phosphate crop nutrients and animal
feed ingredients. For more information, visit the PLP Web site at
phosplp.com . Statement of Distributable Cash (in millions)
Phosphate Resource Partners Limited (unaudited) Partnership Quarter
ended March 31, 2004 Loss $(14.6) PLP's share of IMC Phosphates
Company's gain (1.4) PLP's share of IMC Phosphates Company's first
quarter cash distribution 2.2 Adjusted loss (13.8) Other
adjustments: Interest accrual, net of payments (2.8) All other 5.3
Total available distributable cash $(11.3) Distributable cash per
unit $ - Units outstanding 103.5 DATASOURCE: IMC Global Inc.
CONTACT: Investor and Media, David A. Prichard of IMC Global,
+1-847-739-1810, Web site: http://www.phosplp.com/
http://www.imcglobal.com/
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