|By PR Newswire||
|January 13, 2014 05:49 PM EST||
RENO, Nev., Jan. 13, 2014 /PRNewswire/ -- CIBL, Inc. ("CIBL") (PINK: CIBY) announced today the final 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.
Based on the final 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Company, N.A., the Depositary for the Offer, 2,286 shares of CIBL common stock were validly tendered and not properly withdrawn at or below the purchase price of $1,300 per share, including 15 shares that were tendered through notice of guaranteed delivery. Pursuant to the terms of the Offer, CIBL purchased an additional 86 shares above the 2,200 shares sought in the Offer, by exercising its right to purchase up to an additional 2% (432 shares) of its outstanding stock. Thus, in total, CIBL purchased 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.
Following consummation of the Offer, CIBL has approximately 19,347 shares of common stock outstanding.
The Depositary will promptly issue payment for the shares validly tendered and accepted under the Offer in accordance with the terms and conditions of the Offer. Shares tendered and not accepted for purchase will be returned promptly to stockholders by the Depositary.
Investor questions concerning the Offer should be directed to the information agent, Morrow & Co., LLC, at (800) 245-1502 or [email protected].
CIBL is a holding company with subsidiaries in television broadcasting. CIBL is listed on the Pink Sheets© under the symbol CIBY. CIBL's telephone number is (775) 664-3700.
Robert E. Dolan
SOURCE CIBL, Inc.