CP Holdings Limited Amends Tender Offer for Any and All Outstanding Shares of Common Stock of IIC Industries Inc.Business Editors NEW YORK--(BUSINESS WIRE)--Nov. 13, 2001 CP Holdings Limited, a company organized under the laws of the United Kingdom ("CP Holdings"), announced today that it is amending its previously announced tender offer to purchase, through its wholly-owned subsidiary Kenyon Phillips Acquisition, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a Delaware limited liability company, for cash any and all of the issued and outstanding shares of common stock (the "Common Shares") of IIC See infranet. Industries Inc., a corporation organized under the laws of the State of Delaware and whose shares are traded on the Nasdaq SmallCap Market (IICR IICR Incremental Innovation Cost Reduction ), which are not already beneficially owned by CP Holdings, at a fixed price of $10.50 per Common Share. Prior to the commencement of the tender offer, CP Holdings owned approximately 80% of the outstanding shares of IIC Industries. As part of the amended offer, the expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist.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 tender offer has been extended to 4:00 p.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) on Monday, November 26, 2001, unless further extended. Any stockholder who has tendered his Shares pursuant to the original Offer to Purchase, dated October 15, 2001, will be deemed to have tendered his Shares pursuant to this amended Offer to Purchase unless such stockholder duly withdraws his Shares. Any stockholder who wishes to tender his Shares pursuant to this amended Offer to Purchase may do so using the Transmittal Letter Transmittal letter A letter describing the contents and purpose of a transaction delivered with a security that is changing ownership. attached to the original Offer to Purchase, which is deemed amended as provided for herein. The Amended Offer to Purchase, the Letter of Transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. and all related materials are available at no charge by contacting American Stock Transfer and Trust Company, the Information Agent for the Tender Offer. STOCKHOLDERS ARE ENCOURAGED TO READ CAREFULLY THE AMENDED OFFER TO PURCHASE AND ALL RELATED MATERIALS WHICH CONTAIN IMPORTANT INFORMATION AND DESCRIBE THE AMENDED TENDER OFFER IN DETAIL. SUCH MATERIAL WILL BE MAILED TO ALL STOCKHOLDERS OF RECORD OF THE COMMON SHARES AND MADE AVAILABLE FOR DISTRIBUTION TO BENEFICIAL OWNERS Beneficial Owner A person who enjoys the benefits of ownership even though title is in another name. Notes: For example, when shares of a mutual fund are held by a custodian bank or when securities are held by a broker in street name, the true owner is the beneficial OF THE COMMON SHARES. This press release contains forward-looking statements that, if not verifiable historical fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to CP Holdings and its business. The predictions embodied in these statements will involve risks and uncertainties and accordingly CP Holdings' actual results may differ significantly from the results discussed or implied in such forward-looking statements. |
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