HAMILTON, Bermuda, Jun 11, 2008 (BUSINESS WIRE) -- Textainer Group Holdings Limited (NYSE:TGH) (“Textainer”), the world’s largest lessor of intermodal containers based on fleet size, today announced that John A. Maccarone (President, Chief Executive Officer and Director), Ernest J. Furtado (First Vice President, Senior Vice President, Chief Financial Officer and Secretary), Robert D. Pedersen (Executive Vice President) and James E. Hoelter (Director) have established pre-arranged stock trading plans in accordance with Rule 10b5-1 promulgated under the Securities Exchange Act of 1934.
Under the terms of Mr. Maccarone’s plan, he may sell up to 500,000 shares over a period of approximately nine months. Under the terms of Mr. Furtado’s plan, he may sell up to 60,000 shares over a period of approximately thirteen months. Under the terms of Mr. Pedersen’s plan, he may sell up to 200,000 shares over a period of approximately twelve months. Under the terms of Mr. Hoelter’s plan, he may sell up to 475,000 shares over a period of approximately seven months. These pre-arranged stock trading plans are intended to allow each of these persons to sell a portion of his shares as part of his individual long-term strategy for asset diversification and liquidity.
Rule 10b5-1 allows executive officers and directors to adopt written, pre-arranged stock trading plans when they do not have material non-public information. Using these plans, insiders can gradually diversify their investment portfolios, can spread stock trades out over an extended period of time to reduce any market impact and can avoid concerns about having material, non-public information when they sell their stock. Once established, the insider has no discretion over purchases and sales under a Rule 10b5-1 plan.
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is the world’s largest lessor of intermodal containers based on fleet size. We have a total of more than 1.3 million containers, representing over 2,000,000 twenty-foot equivalent units (TEU), in our owned and managed fleet. We lease containers to more than 400 shipping lines and other lessees, including each of the world’s top 20 container lines, as measured by container vessel fleet size. We believe we are one of the most reliable lessors of containers, in terms of consistently being able to supply containers in locations where our customers need them. We have provided an average of more than 100,000 TEU of new containers per year for the past 10 years, and have been one of the largest purchasers of new containers among container lessors over the same period. We believe we are also one of the two largest sellers of used containers, having sold an average of more than 53,000 containers per year for the last five years. We provide our services worldwide via a network of 14 regional and area offices and over 350 independent depots in more than 130 locations.
SOURCE: Textainer Group Holdings Limited
Textainer Group Holdings Limited Mr. Tom Gallo, 415-658-8227 Corporate Compliance Officer email@example.com
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