8-KOther Events

CROWN CASTLE INC. 8-K Report (Aug 20, 2004)

Filed August 20, 2004For Securities:CCI

Summary

Crown Castle International Corp. (CCI) filed an 8-K on August 20, 2004, to furnish unaudited pro forma condensed consolidated financial information related to the sale of its UK subsidiary, Crown Castle UK Holdings Limited (CCUK), to NGG Telecoms Investment Limited. This information adjusts historical financial statements to reflect the impact of the CCUK sale and the subsequent repayment of the Company's 2000 Credit Facility. The report details that the sale, announced in prior 8-K filings, was expected to close by September 30, 2004, pending satisfaction of certain conditions, most of which had been met. The furnished pro forma financial information includes statements of operations for the year ended December 31, 2003, and the six months ended June 30, 2004, as well as balance sheet information as of June 30, 2004. These statements are presented as if the transactions had occurred at the beginning of the respective periods to provide investors with a clearer view of the Company's financial position and performance post-divestiture and debt reduction. Investors should note that this information is furnished and not deemed 'filed' for purposes of Section 18 of the Exchange Act.

Key Highlights

  • 1Crown Castle International Corp. is providing unaudited pro forma condensed consolidated financial information related to significant transactions.
  • 2The primary transaction is the sale of its UK subsidiary, Crown Castle UK Holdings Limited (CCUK).
  • 3The pro forma information also reflects the repayment of the Company's 2000 Credit Facility following the CCUK sale.
  • 4The sale of CCUK was expected to close on or before September 30, 2004, with most closing conditions satisfied.
  • 5The furnished financial information includes pro forma statements of operations for 2003 and H1 2004, and a pro forma balance sheet as of June 30, 2004.
  • 6The pro forma adjustments are presented as if the transactions occurred at the beginning of the periods or as of June 30, 2004.
  • 7The information is furnished under Regulation FD and not deemed 'filed' for certain SEC liability purposes.

Frequently Asked Questions

The main purpose is to provide investors with unaudited pro forma condensed consolidated financial information that reflects the impact of two significant events: the sale of Crown Castle's UK subsidiary (CCUK) and the subsequent repayment of its 2000 Credit Facility. This information helps investors understand the company's financial position and performance as if these transactions had already occurred.

The sale of Crown Castle UK Holdings Limited (CCUK) was expected to close on or before September 30, 2004, subject to any remaining closing conditions, most of which had been satisfied according to the filing.

The filing includes unaudited pro forma condensed consolidated statements of operations for the year ended December 31, 2003, and the six months ended June 30, 2004, as well as unaudited pro forma condensed consolidated balance sheet information as of June 30, 2004.

No, the information furnished in this 8-K and its exhibits is specifically stated as not being deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, except as expressly stated in future filings.