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| On November 18, 2003, at a special meeting, WCC's shareholders approved a change in the corporate name of WCC from "Wackenhut Corrections Corporation" to "The GEO Group, Inc." The name change is required under the terms of a share purchase agreement signed by WCC on April 30, 2003 and Group 4 Falck. The name change became effective on November 25, 2003 upon the filing of an amendment to the company's Articles of Incorporation with the Secretary of State. | | Submitted by fedup | 2007-04-25 08:21:57 | On January 21, 2004, The GEO Group (formerly listed as Wackenhut Corrections: WHC) started trading on the New York Stock Exchange under its new name and new ticker symbol: GGI.
* On December 1, 2004, The GEO Group, Inc. established The GEO Group UK Limited's Head Office near Reading, England to vigorously pursue new business opportunities in England, Scotland and Wales.
* On April 19, 2005, the State of Florida Department of Children and Families selected our corporate subsidiary, GEO Care, Inc. (formerly Atlantic Shores Healthcare, Inc.) for the management and operation of the existing 200-bed South Florida Evaluation and Treatment Center (SFETC) and for the construction and operation of a new 200-bed replacement facility located in Miami, Florida. The SFETC is a secure forensic psychiatric hospital that provides care for patients who have been determined by the criminal courts to need psychiatric services prior to continuing with the judicial process. It is the first privately managed forensic psychiatric facility in the country.
* On July 14, 2005, GEO signed a definitive merger agreement to acquire Sarasota-based Correctional Services Corporation (CSC), thus adding 15 adult correctional facilities and another under development with a design capacity of approximately 8,000 beds to GEO's North American operations.
* On August 19, 2005, upon the filing of an amendment to the The GEO Group’s Articles of Incorporation with the Florida Secretary of State, GEO’s wholly-owned subsidiary, Atlantic Shores Healthcare, Inc., changed its name to GEO Care, Inc. The new name will enable GEO Care to leverage the organizational strengths, expertise, and brand recognition of the parent company, The GEO Group.
* On November 4, 2005, the acquisition of CSC was completed. Post-closing, GEO has contracts and awards to manage 58 facilities with a total design capacity of approximately 48,000 beds, thus increasing GEO's correctional bed market share from 22 percent to 28 percent.
* On March 14, 2006, GEO reestablished its presence in the United Kingdom. The UK Home Office, Immigration and Nationality Directorate, awarded The GEO Group UK Ltd a five year contract for the management and operation of the Campsfield House Immigration Removal Centre.
* On May 25, 2006, GEO launched a public offering of 3.0 million shares of its common stock. On June 7, 2006, GEO priced these shares at $35.46 per share and closed on June 13, 2006. The aggregate net proceeds from the offering will be used to pay down debt, finance planned expansions and general corporate purposes which may include capital expenditures and potential acquisitions of complementary businesses and other assets.
* On July 26, 2006, marking our Tenth Anniversary on the New York Stock Exchange (NYSE), The GEO Group, Inc. became listed and traded on the Exchange under our new ticker symbol "GEO."
The company has been listed and traded on the NYSE since 1996 under the ticker symbol "WHC" and since 2004 under the symbol "GGI." This action does not reflect any changes in the management or policies of the company or our Board of Directors, but rather serves to further strengthen our corporate identity.
* On August 10, 2006, GEO’s Board of Directors declared a 3-for-2 stock split of the company’s common stock. The split took effect on October 2, 2006 with respect to stockholders of record on September 15, 2006. As a result of the split, GEO's diluted shares of outstanding common stock increased to approximately 19.5 million.
* On September 20, 2006, GEO signed a definitive merger agreement to acquire CentraCore Properties Trust (CPT), a correctional and real estate investment trust. Closing was targeted for late 2006 or early 2007.
* On January 24, 2007, GEO closed on its previously announced acquisition of CentraCore Properties Trust (CPT), resulting in acquiring ownership in 13 correctional facilities totaling 8,671 beds, 11 of which are currently operated by GEO and total 7,545 beds.
With this milestone, GEO's enterprise value now exceeds a billion dollars.
* On March 19, 2007, GEO issued 4,750,000 shares of its common stock at $43.99 per share. The gross proceeds resulting from this offering totaled approximately $209.0 million.
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