IDT Corporation Announces Extension of Tender Offer for Outstanding Stock Options; Offer to Expire at 5:00 p.m., New York City
April 05 2006 - 5:17PM
Business Wire
IDT Corporation (NYSE:IDT, IDT.C) today announced that the
expiration date for the offer to purchase from eligible optionees
outstanding stock options to purchase shares of IDT Class B common
stock for $2.00 per share in cash has been extended to Friday,
April 28, 2006 at 5:00 p.m., New York City time. On the expiration
date, all validly tendered options not previously withdrawn will be
accepted for purchase pursuant to the terms of the offer and paid
for promptly thereafter. As of 5:00 p.m. New York City time on
April 5, 2006, options to purchase 7,100,336 shares of IDT Class B
common stock had been tendered in the offer. This press release is
intended for informational purposes only and is not an offer to
buy, a solicitation of an offer to sell or a recommendation to sell
any options to purchase shares of Class B common stock. The
solicitation of offers to sell options to purchase shares of Class
B common stock is made pursuant to a tender offer statement on
Schedule TO as amended, an offer to purchase as amended and related
materials filed with the SEC. Holders of options are urged to read
the tender offer statement, the offer to purchase, and other
relevant documents filed with the SEC because they contain
important information. Holders of options can obtain the tender
offer statement and other publicly filed documents without charge
from the web site maintained by the SEC at www.sec.gov or from IDT
without charge by directing a request to IDT Corporation, 520 Broad
Street, Newark, New Jersey, Attention: Investor Relations,
Telephone: (973) 438-1000. A copy of this press release will be
available on IDT's website at www.idt.net in the "About IDT" Press
Releases section. IDT Corporation, through its IDT Telecom
subsidiary, is a facilities-based, multinational carrier that
provides a broad range of telecommunications services to retail and
wholesale customers worldwide. IDT Telecom, by means of its own
international telecommunications backbone and fiber optic network
infrastructure, provides its customers with integrated and
competitively priced international and domestic long distance and
domestic all-distance telephony and prepaid calling cards. IDT
Entertainment is the IDT subsidiary that is focused on developing,
acquiring, producing and distributing computer-generated and
traditionally animated productions and other productions for the
film, broadcast and direct-to-consumer markets. IDT Capital is the
IDT division principally responsible for IDT's initiatives in radio
broadcasting, brochure distribution and new technologies.
Net2Phone, Inc., a subsidiary of IDT Corporation, is a provider of
high-quality global retail Voice over IP services and offers a
fully outsourced cable telephony service to cable operators
allowing cable operators to provide residential phone service to
their subscribers. IDT Corporation's Class B Common Stock and
Common Stock trade on the New York Stock Exchange under the ticker
symbols "IDT" and "IDT.C," respectively.
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