Franklin Covey Co. Announces Preliminary Results of Dutch Auction Tender Offer
Based on the preliminary count by the depositary for the tender offer, a total of 2,355,207 shares of the Company's common stock were properly tendered and not properly withdrawn in the tender offer, including 286,126 shares that were tendered through notice of guaranteed delivery.
The tender offer was oversubscribed. In accordance with the terms and
conditions of the tender offer, and based on the preliminary count by
the depositary, the Company expects to repurchase 1,971,830 shares at
The number of shares expected to be purchased in the tender offer and the proration factor referred to above are preliminary and subject to change. The final number of shares to be purchased will be announced following completion of the verification process. Payment for the shares accepted for purchase pursuant to the tender offer, and the return of all other shares tendered and not purchased, will occur promptly thereafter. Any shares validly tendered and not purchased due to proration or conditional tenders will be returned at the Company's expense promptly to the tendering shareholder.
Shareholders who tendered their shares by delivering a notice of guaranteed delivery prior to the expiration of the tender offer must deliver the related shares and required documents to the depositary within three business days of their execution of the notice of guaranteed delivery.
Forward-Looking Statements
This press release contains forward-looking statements related to, among
other things, the Company’s share repurchase through a Dutch Auction
tender offer, and the Company’s anticipated number of outstanding shares
of common stock. These statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that forward-looking statements inherently
involve risks and uncertainties that could cause actual results to
differ materially from those contemplated in the forward-looking
statements. Such risks and uncertainties include, but are not limited
to, the Company may decide, for any number of reasons, not to pursue the
tender offer, the conditions to any such tender offer may not be
satisfied, market conditions and the price of the Company's stock may
not be favorable, general economic conditions, the Company's cash needs,
shareholders may not tender shares in response to the offer in
sufficient numbers to make the tender offer advisable and other risks
and uncertainties outlined in the Company's documents filed with the
About
View source version on businesswire.com: http://www.businesswire.com/news/home/20160113005400/en/
Source:
Franklin Covey
Investor Contact:
Steve Young
801-817-1776
Investor.relations@franklincovey.com
or
Media
Contact:
Debra Lund
801-817-6440
Debra.lund@franklincovey.com