BayCorp Reports Final Results of Self Tender Offer.Business Editors PORTSMOUTH, N.H.--(BUSINESS WIRE)--March 24, 2003 BayCorp Holdings, Ltd. ("BayCorp") (AMEX AMEX See: American Stock Exchange : MWH See watt-hour. ) announced today the final results of its self tender offer, which expired at 12:00 midnight, Eastern Standard Time, on March 18, 2003. Based on the final count by the depository The place where a deposit is placed and kept, e.g., a bank, savings and loan institution, credit union, or trust company. A place where something is deposited or stored as for safekeeping or convenience, e.g., a safety deposit box. for the tender offer and Company records, 9,207,508 shares of common stock, including options tendered by directors, officers and employees for repurchase, were properly tendered and not withdrawn. BayCorp accepted for purchase 8,673,887 shares at a purchase price of $14.85 per share in accordance with the terms of the offer. The 8,673,887 shares that BayCorp accepted for purchase are comprised of the 8,500,000 shares BayCorp offered to purchase and 173,887 shares purchased pursuant to BayCorp's right to purchase up to an additional 2% of its outstanding shares. The 8,673,887 shares represent a prorata reduction to approximately 94.3% of the shares properly tendered and not withdrawn. American Stock Transfer and Trust Company (the depository for the tender offer) will issue payment for all shares accepted for purchase and return all shares tendered but not accepted for purchase. Any questions regarding the tender offer may be directed to AST (AST Computer, Irvine, CA) A PC manufacturer founded in 1980 by Albert Wong, Safi Quershey and Tom Yuen (A, S and T). It offered a complete line of PCs that sold through its dealer channel. at (800) 937-5449. As a result of the completion of the tender offer, and immediately following payment for the tendered shares, BayCorp will have approximately 683,316 fully-diluted shares of common stock. About BayCorp BayCorp Holdings, Ltd. is an unregulated holding company incorporated in Delaware. Prior to the November 1, 2002 sale to FPL FPL feline panleukopenia. Energy of substantially all of the assets of its electric generating subsidiaries, BayCorp's wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Great Bay Power Corporation and Little Bay Power Corporation, were electric generating companies whose principal assets consisted of joint ownership in the Seabrook Nuclear Power Plant in Seabrook, New Hampshire Seabrook is a town in Rockingham County, New Hampshire, United States. The population was 7,979 at the 2000 census. Located at the southern end of the coast of New Hampshire on the border with Massachusetts, Seabrook is noted as the location of the Seabrook Nuclear Power Station, . HoustonStreet, Inc., an equity investment of BayCorp, operates HoustonStreet.com, an independent internet-based crude oil and refined products trading exchange. |
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