Wilshire Enterprises, Inc. Commences Issuer Tender Offer to Purchase up to 4,000,000 Shares of Common Stock
10 Août 2009 - 2:30PM
PR Newswire (US)
NEWARK, N.J., Aug. 10 /PRNewswire-FirstCall/ -- Wilshire
Enterprises, Inc. (AMEX:WOC) today announced the commencement of a
tender offer to purchase shares of its common stock. Wilshire
Enterprises, Inc. is offering to purchase up to 4,000,000 shares of
its common stock at a price of $2.00 per share for a maximum
aggregate purchase price of $8,000,000. The tender offer is
currently scheduled to expire at 12:00 midnight, New York City
time, on Friday, September 4, 2009, unless extended. In accordance
with the rules of the Securities and Exchange Commission, Wilshire
Enterprises, Inc. may purchase up to an additional 2 percent of
outstanding shares without amending or extending the tender offer.
The tender offer is being made in connection with a settlement
agreement Wilshire Enterprises, Inc. entered into with Bulldog
Investors, Full Value Partners, L.P. and certain of their
affiliates on April 3, 2009. The tender offer is not conditioned
upon any minimum number of shares being tendered, but is subject to
other conditions described in the offer to purchase. The
information agent for the tender offer is InvestorCom, Inc., and
the depositary is Continental Stock Transfer & Trust Company.
The full details of the offer, including complete instructions on
the tender process procedure along with the transmittal forms and
other data is being mailed to stockholders commencing on or about
August 10, 2009. Stockholders who have questions or would like
additional copies of the tender offer documents may call the
information agent at (877) 972-0090. Banks and brokers may call
(203) 972-9300. Wilshire Enterprises, Inc.'s board of directors has
approved the tender offer. However, neither Wilshire Enterprises,
Inc. nor its board of directors, the depositary or the information
agent makes any recommendation to any stockholder as to whether to
tender or refrain from tendering any shares. Wilshire Enterprises,
Inc. has not authorized any person to make any such recommendation.
Stockholders must decide whether to tender their shares and, if so,
how many shares to tender. In doing so, stockholders should
carefully evaluate all of the information in the offer to purchase
and the related letter of transmittal before making any decision
with respect to the tender offer and should consult their own
investment and tax advisors. The Company's directors and executive
officers have indicated that they will not tender shares
beneficially owned by them into the offer. About Wilshire
Enterprises, Inc. Wilshire Enterprises, Inc. is engaged primarily
in the ownership and management of real estate investments in
Arizona, Texas and New Jersey. Wilshire Enterprises, Inc.'s
portfolio of properties includes five rental apartment properties
with 950 units, 10 condominium units, two office buildings and a
retail/office center with approximately 200,000 square feet of
office and retail space, and slightly more than 19 acres of land.
Forward-Looking Statements This press release contains statements
that constitute forward-looking statements. These forward-looking
statements may use such forward-looking terminology as "expect,"
"look," "believe," "plan," "anticipate," "may," "will" or similar
statements or variations of such terms or otherwise express views
concerning trends and the future. Such forward-looking statements
involve certain risks and uncertainties, including risks cited in
reports filed by Wilshire Enterprises, Inc. with the Securities and
Exchange Commission. Actual results may differ materially from such
forward-looking statements. Wilshire Enterprises, Inc. assumes no
obligation for updating any such forward-looking statement at any
time. Tender Offer Statement This press release is for
informational purposes only and is neither an offer to buy nor the
solicitation of an offer to sell any shares. The offer is made
solely by the Offer to Purchase, dated August 10, 2009, and the
related Letter of Transmittal. Each stockholder is urged to consult
their tax advisor as to the particular tax consequences of the
tender offer to such stockholder. The full details of the offer,
including complete instructions on the tender process procedure
along with the transmittal forms and other data is being mailed to
stockholders commencing on or about August 10, 2009. Stockholders
should read the Offer to Purchase and the Letter of Transmittal
carefully because they contain important information. Stockholders
may obtain free copies of the documents at the Securities and
Exchange Commission's website at http://www.sec.gov/. In addition,
stockholders also may obtain a copy of these documents, free of
charge, from InvestorCom, Inc., the information agent for the
tender offer. CONTACT: Sherry Wilzig Izak Chairman Wilshire
Enterprises, Inc. Phone: 201-420-2796 DATASOURCE: Wilshire
Enterprises, Inc. CONTACT: Sherry Wilzig Izak, Chairman of Wilshire
Enterprises, Inc., +1-201-420-2796
Copyright
Wilshire (AMEX:WOC)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
Wilshire (AMEX:WOC)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024