CVPS Tender Offer Results Revised
April 19 2006 - 4:56PM
Business Wire
Central Vermont Public Service Corp. (NYSE-CV) today announced that
as a result of a clerical error by its depositary agent, the final
results of its offer to purchase up to 2,250,000 shares of its
outstanding common stock at a price not greater than $22.50 and not
less than $20.50 per share, which expired on April 5, 2006, has
been revised. Central Vermont is purchasing 2,249,975 shares at
$22.50 per share, or just 25 shares short of its stated goal. Based
on the revised final count by the depositary for the tender offer,
2,379,221 shares of common stock, including conditional shares,
were properly tendered and not withdrawn at or below a price of
$22.50 per share. In accordance with the terms of the offer to
purchase, Central Vermont first purchased shares from holders of
odd lots. It then purchased from all other stockholders who had not
conditionally tendered their shares. Finally, Central Vermont
purchased from holders who tendered their shares subject to
condition that Central Vermont purchase a specified minimum number
of the holder's shares. In order for the company to purchase up to
2,250,000 shares, it became necessary to purchase the conditional
shares by random lot, to the extent feasible, as specified by the
terms of the offer to purchase. To be eligible for purchase by
random lot, stockholders whose shares were conditionally tendered
were required to tender all of their shares. All shares tendered
and delivered at prices at or below $22.50 that were not purchased
after the application of the random lot factor, a combined total of
70,897 shares, will be returned promptly to shareholders by the
depositary. Payment for the shares accepted for purchase will be
done promptly by the depositary. Upon completing the tender offer,
CVPS will have 10,051,940 shares of common stock outstanding. The
depositary for the tender offer is American Stock Transfer &
Trust Company. For questions and information, please contact the
information agent for the tender offer, Morrow & Co., Inc., by
calling (800) 607-0088. CVPS, founded in 1929, is Vermont's largest
electric utility, serving more than 151,000 customers.
Central Vermont Public Service (NYSE:CV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Central Vermont Public Service (NYSE:CV)
Historical Stock Chart
From Jul 2023 to Jul 2024