CIBL Announces Preliminary Results of Its Tender Offer for Shares
of ICTC Group
RENO, N.V., Dec. 20, 2012
/PRNewswire/ -- CIBL, Inc. ("CIBL") (PINK: CIBY) announced
today the preliminary results of its tender offer (the "Offer"),
commenced November 21, 2012, to
purchase for cash up to 80,000 shares of Class A common stock,
$0.0001 par value per share (the
"Shares"), of ICTC Group, Inc. ("ICTC") (PINK: ICTG), at a purchase
price of $22.25 per Share, net to the
seller in cash, less any applicable withholding taxes and without
interest. The Offer expired at 12:00 Midnight, Eastern Time,
on December 19, 2012.
Based on the preliminary count by Computershare Trust Company,
N.A., the Depositary for the Offer, approximately 81,058 Shares
were validly tendered and not properly withdrawn, including
approximately 35,015 Shares that were tendered through notice of
guaranteed delivery. In addition, CIBL has the right to accept for
purchase up to an additional 2% of the outstanding Shares. Since
the Offer was oversubscribed, unless CIBL exercises its right to
purchase additional Shares, CIBL expects to purchase from each
tendering stockholder a pro-rated number of shares, as provided in
the Offer to Purchase, dated November 21,
2012. As such, CIBL expects to accept for purchase
80,000 Shares at a purchase price of $22.25 per Share for a total cost of
approximately $1.8 million, excluding
fees and expenses related to the Offer.
The number of Shares validly tendered and not properly withdrawn
is preliminary and is subject to verification by the Depositary and
to the proper delivery of all Shares validly tendered and not
properly withdrawn (including Shares tendered pursuant to
guaranteed delivery procedures). The actual number of Shares
validly tendered and not properly withdrawn and the pro-ration
factor will be announced promptly following completion of the
verification process. Promptly after such announcement, the
Depositary will issue payment for the Shares validly tendered and
accepted under the Offer.
Investor questions concerning the tender offer may be directed
to the information agent, Morrow & Co., LLC, at (800) 461-0945
or ictc.info@morrowco.com.
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This release contains certain forward-looking information within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including without limitation anticipated corporate
transactions. It should be recognized that such information may be
based upon certain assumptions, projections and forecasts
regarding, among other things, business conditions and financial
markets, and must be read in conjunction with the cautionary
statements set forth in documents filed by CIBL on its website,
www.ciblinc.com. As a result, there can be no assurance that any
possible transactions will be accomplished, and such information is
subject to uncertainties, risks and inaccuracies, which could be
material.
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.
Contact: Robert E. Dolan
Interim Chief Executive Officer and
Interim Chief Financial Officer
(775) 664-3700
SOURCE CIBL, Inc.
