Business
CIBL, Inc. To Commence Tender Offer To Repurchase Up To 2,200 Shares Of Common Stock
CIBL, Inc. To Commence Tender Offer To Repurchase Up To 2,200 Shares Of Common Stock.
About this update from Cibl, Inc.
[{"type":"text","content":"\n\n\n\nCIBL, Inc. To Commence Tender Offer To Repurchase Up To 2,200 Shares Of Common Stock\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; VERTICAL-ALIGN: BOTTOM; 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, Inc. To Commence Tender Offer To Repurchase Up To 2,200 Shares Of Common Stock\nPR Newswire\nRENO, Nev., Dec. 6, 2013\n\n\n\nRENO, Nev., Dec. 6, 2013 /PRNewswire/ -- CIBL, Inc. (\"CIBL\" or the \"Company\") (PINK: CIBY) announced today that its Board of Directors has authorized a modified \"Dutch Auction\" tender offer (the \"Offer\") 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, for a minimum aggregate purchase price of $2,860,000 and a maximum aggregate purchase price of $2,970,000.  If the Offer is oversubscribed, the Board may decide to increase the size of the Offer by up to an additional 1,000 shares, in which case, the Offer may need to be extended.  On December 5, 2013, the last full trading day before the public announcement of the Offer, the last reported closing price on the Pink Sheets was $1,350 per share, reflecting a sale on December 2, 2013.\n\nCIBL intends to commence the Offer on December 9, 2013 and expects the Offer to expire at 5:00 pm Eastern time on January 8, 2014, unless extended or withdrawn.  Shares must be tendered prior to the expiration of the Offer, and existing tenders of shares may be withdrawn at any time prior to the expiration of the Offer.  Withdrawn shares will be returned to their holders in accordance with the terms of the Offer.  The Offer will not be conditioned on any minimum number of shares being tendered, although the Offer will be subject to certain customary conditions.  \n\nThe modified Dutch Auction will allow CIBL stockholders to tender their shares at a price with...