This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Tucows amends third Dutch tender offer 2009-09-10 09:05 ET - News Release
Mr. Lawrence Chamberlain reports TUCOWS AMENDS AND EXTENDS THIRD MODIFIED DUTCH TENDER OFFER Tucows Inc. has narrowed the price range that it is offering for the repurchase of
shares of its common stock under the modified Dutch auction tender that
commenced on Aug. 20, 2009, to no less than 52 cents and no more than 60 cents per
share. The previous price range offered by the company was no less than 40 cents and no more than 60 cents per share. The company has also extended the term of
the tender offer to 5 p.m., New York time, on Oct. 2, 2009. The
offer was previously scheduled to expire at 5 p.m., New York time, on
Sept. 18, 2009.
The closing price of the company's common stock on the NYSE Amex on Sept. 9, 2009, was 58 cents per share. Shareholders have the opportunity to tender some
or all of their shares at a price within the price range of 52 cents to 60 cents per share. Based on the number of shares tendered and the price specified by the
tendering shareholders, Tucows will determine the lowest per share price
within the range that will enable it to buy five million shares, or such lesser
number of shares that are properly tendered. If shareholders of more than
five million shares properly tender their shares at or below the determined price
per share, Tucows will purchase shares tendered by such shareholders, at the
determined price per share, on a pro rata basis. Additionally, if more than
five million shares are properly tendered, the number of shares to be repurchased
by Tucows pursuant to the tender offer may, at the discretion of Tucows, be
increased by up to 2 per cent of the company's outstanding shares, or approximately
1,357,000 shares, without amending or extending the tender offer.
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