Tucows Announces Final Results of Second Dutch Auction Tender Offer
July 14 2009 - 8:00AM
PR Newswire (US)
TORONTO, July 14 /PRNewswire-FirstCall/ -- Tucows Inc.
(AMEX:TCXAMEX:TSX:TC) a global provider of domain names, email and
other Internet services, announced today the final results of its
second modified Dutch auction tender offer, which expired at 5:00
p.m., New York City time, on July 9, 2009. Tucows will purchase
1,103,823 shares of its Common Stock at a purchase price of $0.45
per share, for a total of $496,720.35. The 1,103,823 shares to be
purchased are comprised of the 1,000,000 shares Tucows offered to
purchase and 103,823 shares to be purchased pursuant to Tucows'
right to purchase up to an additional 2 percent of the shares
outstanding immediately prior to the commencement of the tender
offer. Due to over-subscription, the final proration factor for
shares tendered at or below $0.45 per share is approximately 99.8%.
For this purpose, shares tendered at $0.45 per share include shares
tendered by those persons who indicated, in their letter of
transmittal, that they are willing to accept the price determined
in the offer. All shares purchased in the tender offer will receive
the same price. Payment for shares accepted for purchase, and the
return of all other shares tendered but not accepted for payment,
will be made promptly by StockTrans, Inc., the depositary for the
tender offer. As a result of the completion of the tender offer and
immediately following payment of the tendered shares, Tucows will
have approximately 67,757,477 shares issued and outstanding. About
Tucows Tucows is a global Internet services company. OpenSRS
manages over 8 million domain names and millions of email boxes
through a reseller network of over 9,000 web hosts and ISPs. Hover
is the easiest way for individuals and small businesses to manage
their domain names and email addresses. YummyNames owns premium
domain names that generate revenue through advertising or resale.
Butterscotch.com is an online video network building on the
foundation of Tucows.com. More information can be found at
http://tucowsinc.com/. TUCOWS is a registered trademark of Tucows
Inc. or its subsidiaries. All other trademarks and service marks
are the properties of their respective owners. DATASOURCE: Tucows
Inc. CONTACT: Lawrence Chamberlain, The Equicom Group for Tucows
Inc., (416) 815-0700 ext. 257,
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