C. V. Starr & Co., Inc. Completes Its Self Tender Offer and Commences Subsequent Offering Period.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- C. V. Starr & Co., Inc. (the "Company") today announced that the initial offering period of its tender offer to purchase shares of its common stock and preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. held by certain of its holders expired today at 12:01 a.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time. The self tender offer commenced on December 1, 2005 and was made to any person who was, as of such date, not a director, officer, employee or otherwise employed by, or in a consulting relationship with, the Company or any subsidiary of the Company. Following the expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of the initial offering period, the final results of its self tender offer show that a total of 11,000 shares of voting common stock were validly tendered, representing approximately 34.8% of the outstanding shares of the Company's voting common stock. In addition, a total of 5,750 shares of non-voting common stock were validly tendered, representing approximately 78.3% of the outstanding shares of the Company's non-voting common stock. Persons tendering shares of common stock were required under the terms of the offer to tender all of their holdings of the Company's preferred stock. The Company has accepted for purchase and payment all of the shares that were validly tendered as of the expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. of the initial offering period. The Company is also providing a subsequent offering period, which commences today and expires at 11:59 p.m., New York City time, on Tuesday, January 17, 2006, unless extended in accordance with the terms of the offer. The subsequent offer is on the same terms and subject to the same conditions as are set forth in the Offer to Purchase dated December 1, 2005, as supplemented on December 19, 2005, and the Letter of Transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. enclosed en·close also in·close tr.v. en·closed, en·clos·ing, en·clos·es 1. To surround on all sides; close in. 2. To fence in so as to prevent common use: enclosed the pasture. with the Offer to Purchase, except that during the subsequent offering period, shares tendered will be accepted and paid for promptly as they are tendered and no withdrawal rights will apply. Questions and requests for assistance or for additional copies of the Offer to Purchase, the Supplement thereto, and the Letter of Transmittal may be directed to Edward E. Matthews at 212-759-5837. THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY, AND IS NOT AN OFFER TO BUY OR THE SOLICITATION solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual OF AN OFFER TO SELL ANY SHARES OF CAPITAL STOCK OF THE COMPANY. THE SOLICITATION OF OFFERS TO BUY SHARES OF CAPITAL STOCK OF THE COMPANY IS BEING MADE ONLY PURSUANT TO THE OFFER TO PURCHASE, THE SUPPLEMENT THERETO AND THE LETTER OF TRANSMITTAL. |
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