Published:
Global Sources Commences Tender Offer
HONG KONG, Nov. 21 /PRNewswire-FirstCall/ -- Global Sources Ltd.
(Nasdaq: GSOL) has commenced with its cash tender offer for up to 6,250,000 of
its common shares at $8 per share or up to $50,000,000 as previously announced
on November 13, 2008. As of November 1, 2008, there were 46,703,494 shares of
the Company's common shares issued and outstanding. The shares that the
Company is offering to purchase represent approximately 13.4% of the total
number of issued and outstanding shares of the Company's common shares. The
tender offer is not conditioned upon any minimum number of shares being
tendered or the availability of any financing. It is, however, subject to
certain other conditions set forth in the Offer to Purchase.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030303/LNM011LOGO-b )
The tender offer is expected to expire at midnight, Eastern Time, on
December 19, 2008, unless the tender offer is extended or earlier terminated
by the Company.
The Company's Board of Directors has approved the tender offer. However,
neither the Company's Management, its Board of Directors, the Depositary nor
the Information Agent make any recommendation to any shareholder as to whether
to tender or refrain from tendering any shares. The Company has not authorized
any person to make any recommendation.
Georgeson Inc. will serve as the information agent for the tender offer.
Banks and brokers can contact Georgeson Inc. by calling them at: (1-212) 440-
9800. U.S. shareholders can contact Georgeson Inc. by calling them at: (1-866)
295-4321. Non-U.S. shareholders can contact Georgeson Inc. by calling them at:
(1-212) 806-6859.
THIS PRESS RELEASE CONSTITUTES NEITHER AN OFFER TO BUY NOR THE
SOLICITATION OF AN OFFER TO SELL SHARES. THE SOLICITATION AND THE OFFER TO BUY
GLOBAL SOURCES' COMMON SHARES WILL ONLY BE MADE PURSUANT TO AN OFFER TO
PURCHASE AND RELATED MATERIALS. SHAREHOLDERS SHOULD READ THESE MATERIALS
CAREFULLY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION, INCLUDING VARIOUS
TERMS AND CONDITIONS OF THE OFFER. SHAREHOLDERS WILL BE ABLE TO OBTAIN FOR
FREE THE OFFER TO PURCHASE AND OTHER FILED DOCUMENTS AT THE SEC'S WEBSITE AT
HTTP://WWW.SEC.GOV. ONCE AVAILABLE.
Shareholders should read carefully the information in the Offer to
Purchase and in the Letter of Transmittal as they include various terms and
conditions of the tender offer and should consult their own investment and tax
advisors. Shareholders will be able to obtain for free the offer to purchase
and other filed documents at the SEC's website at http://www.sec.gov . Once
available, these documents may also be obtained for free in the investor
relations section of Global Sources' website at http://www.globalsources.com .
About Global Sources
Global Sources is a leading business-to-business media company and a
primary facilitator of trade withGreater China. The core business uses
English-language media to facilitate trade fromGreater China to the world.
The other business segment utilizes Chinese-language media to enable companies
to sell to, and withinGreater China.
The company provides sourcing information to volume buyers and integrated
marketing services to suppliers. It helps a community of over 753,000 active
buyers source more profitably from complex overseas supply markets. With the
goal of providing the most effective ways possible to advertise, market and
sell, Global Sources enables suppliers to sell to hard-to-reach buyers in over
230 countries.
The company offers the most extensive range of media and export marketing
services in the industries it serves. It delivers information on 4.3 million
products and more than 196,000 suppliers annually through 14 online
marketplaces, 13 monthly magazines, over 100 sourcing research reports and 9
specialized trade shows which run 27 times a year across eight cities.
Suppliers receive more than 43 million sales leads annually from buyers
through Global Sources Online ( http://www.globalsources.com ) alone.
Global Sources has been facilitating global trade for 37 years. Global
Sources' network covers more than 69 cities worldwide. In mainlandChina,
Global Sources has over 2,800 team members in more than 44 locations, and a
community of over 1 million registered online users and magazine readers for
Chinese-language media.
FORWARD-LOOKING STATEMENTS
This press release contain certain "forward-looking statements" with
respect to Global Sources. These statements relate to analyses and other
information which are based on forecasts of future results and estimates of
amounts not yet determinable. These statements also relate to our future
prospects, developments and business strategies. These forward-looking
statements are identified by their use of terms and phrases such as
"anticipate," "believe," "could," "estimate," "expect," "intend," "may,"
"plan," "predict," "will" and similar terms and phrases, including references
to assumptions. These forward-looking statements, including current trend
information, projections for future business activities and other trend
projections, involve risks and uncertainties that may cause our actual future
activities and results of operations to be materially different from those
suggested or described in the Offer to Purchase.
These risks, uncertainties and other matters can be found in Global
Sources Ltd.'s Annual Report on Form 20-F for the fiscal year ended December
31, 2007. Except as required by law, we do not assume any obligation to
update any forward-looking statements, whether as a result of new information,
future events or otherwise.
If one or more of these risks or uncertainties materialize, or if
underlying assumptions prove incorrect, our actual results may vary materially
from those expected, estimated or projected.
The information contained in this press release is a statement of our
present intention, beliefs or expectations and is based upon, among other
things, the existing regulatory environment, industry conditions, market
conditions and prices, the economy in general and their and our assumptions.
We may change our or their intention, belief or expectation, at any time and
without notice, based upon any changes in such factors, in our or their
assumptions or otherwise.
Global Sources Press Contact in Asia:
Camellia So
Tel: +852-2555-5021
Email: cso@globalsources.com
Global Sources Press Contact in U.S.:
James W.W. Strachan
Tel: +1-480-664-8309
Email: strachan@globalsources.com
Global Sources Investor Contact in Asia:
Investor Relations Department
Tel: +852-2555-4777
Email: investor@globalsources.com
Global Sources Investor Contact in U.S.:
Kirsten Chapman & Timothy Dien
Lippert/Heilshorn & Associates, Inc.
Tel: +1-415-433-3777
Email: tdien@lhai.com
SOURCE Global Sources
Copyright © 2009, PRNewswire
newsblaze
Copyright © 2009, NewsBlaze,
Daily News
Tags: ,PUB,ECM,CPR,MLM,FIN,OFR,GSOL-Tender-Offer
_ _Is your favorite bookmark site missing?
Ask for it.