Sylvan Learning Systems, Inc. Announces Preliminary Results of Self-Tender Offer.Business Editors BALTIMORE--(BUSINESS WIRE)--Sept. 14, 2000 Sylvan Learning Sylvan Learning (formerly Sylvan Learning Center) is a chain of franchised tutoring centers which provide personalized tutoring in reading, writing, mathematics, study skills and test-prep for college entrance and state exams. Systems, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : SLVN) today announced the preliminary results of its self tender offer, which expired on September 13, 2000. Based on a preliminary count by the depositary DEPOSITARY, contracts. He with whom a deposit is confided or made. 2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. for the tender offer, 4,552,042 shares of common stock (including 1,891,846 shares tendered through notice of guaranteed delivery), representing approximately 10.9% of the company's outstanding shares, were properly tendered and not withdrawn at prices at or below $15.00 per share. Pursuant to applicable securities laws, Sylvan sylvan emanating from or pertaining to woods. See also sylvatic. expects to purchase all of the shares tendered for $15.00 per share. The number of shares expected to be purchased is preliminary and subject to verification by the depositary. The actual number of shares to be purchased will be announced promptly following completion of the verification process. Sylvan will pay for all shares purchased promptly following that time. Sylvan commenced the tender offer on August 10, 2000, when it offered to purchase up to 6,000,000 shares of its common stock at a price between $13.50 and $15.00 per share net to the seller in cash, without interest. As of September 13, 2000, Sylvan had 41,933,326 shares issued and outstanding. As a result of the completion of the tender offer, Sylvan expects to have approximately 37.4 million shares issued and outstanding as of the time immediately following payment for the tendered shares. The Dealer Manager for the tender offer was Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. and the information agent was D.F. King & Co., Inc. About Sylvan Learning Systems Sylvan Learning Systems, Inc. (www.sylvan.net) is the leading provider of educational services to families, schools and industry. The Sylvan Learning Centers and Education Solutions provide personalized instruction services to K-12 students through direct consumer relationships and under contract to school systems. Sylvan provides courses to adult students throughout the world in the areas of English language English language, member of the West Germanic group of the Germanic subfamily of the Indo-European family of languages (see Germanic languages). Spoken by about 470 million people throughout the world, English is the official language of about 45 nations. , teacher training and accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. university offerings through the Wall Street Institute / ASPECT, Canter and Sylvan International Universities subsidiaries. Sylvan Ventures, Sylvan's new e-learning investment vehicle, focuses on bringing emerging Internet technology solutions to the education and training marketplace. Through its affiliate, Caliber Learning Network, Inc. (NASDAQ: CLBR CLBR Costa Linda Beach Resort (Aruba) - news), Sylvan also has the ability to distribute world-class adult professional education and training programs. |
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