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CIBL Announces Preliminary Results Of Its Modified Dutch Auction Tender Offer
CIBL Announces Preliminary Results Of Its Modified Dutch Auction Tender Offer.
About this update from Cibl, Inc.
[{"type":"text","content":"\n\n\n\nCIBL Announces Preliminary Results Of Its Modified Dutch Auction Tender Offer\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-BOTTOM:1pt; BORDER-LEFT:1pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; BORDER-TOP:1pt; BORDER-RIGHT:1pt\n}\n.prntblns{\nBORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; BORDER-COLLAPSE: collapse; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt\n}\n\n\n\n\n\n\nCIBL Announces Preliminary Results Of Its Modified Dutch Auction Tender Offer\nPR Newswire\nRENO, Nev., Jan. 9, 2014\n\n\n\nRENO, Nev., Jan. 9, 2014 /PRNewswire/ -- CIBL, Inc. (\"CIBL\") (PINK: CIBY) announced today the preliminary results of its modified Dutch Auction tender offer (the \"Offer\"), commenced December 9, 2013, to purchase for cash up to 2,200 shares of its outstanding common stock, $0.01 par value, at a price per share of not less than $1,300 nor greater than $1,350.  The Offer expired at 5:00 p.m., Eastern Time, on January 8, 2014.\n\nBased on the preliminary count by Computershare Trust Company, N.A., the Depositary for the Offer, 2,286 shares of CIBL common stock were validly tendered and not properly withdrawn at or below the purchase price of $1,300 per share, including 15 shares that were tendered through notice of guaranteed delivery.  As provided by the terms of the Offer, in addition to the stated limit of 2,200 shares, CIBL expects to purchase an additional 86 shares tendered at $1,300 per share by exercising its right to purchase up to an additional 2% (432 shares) of its outstanding stock.  Thus, in total (assuming that the notice of guaranteed delivery shares are actually tendered), CIBL expects to purchase 2,286 shares at a purchase price of $1,300, for a total cost of $2,971,800, excluding fees and expenses related to the Offer.  \n\nThe number of shares validly tendered and not properly withdrawn is preliminary and is subject to final verification by the Depositary, and to the proper delivery of all shares validly tendered pursuant to guaranteed delivery procedures.  The total number of shares validly tendered and not properly withdrawn wil...