Key Developments For Collectors Universe Inc
Collectors Universe Inc (CLCT.O) (Consolidated Issue listed on NASDAQ Global Market)
Collectors Universe, Inc. Resumes Payment of Cash Dividends
Collectors Universe, Inc. announced that its Board of Directors have approved a cash dividend policy that calls for the payment of $0.25 per share per quarter. The first of the quarterly cash dividends of $0.25 per share under the new dividend policy will be paid on November 24, 2009, to Stockholders of Record as of November 10, 2009.
Collectors Universe, Inc. Announces Final Results of Tender Offer
Collectors Universe, Inc. announced the final results of its previously announced modified "Dutch Auction" tender offer to purchase for cash up to 1,750,000 shares of its common stock, $.001 par value (including associated preferred share purchase rights), at a price per share of not less than $5.00 and not greater than $5.40. The tender offer expired at 12:00 Midnight, Eastern Time, on July 2, 2009. The Company has accepted for purchase 1,749,828 shares in the tender offer, at a price of $5.00 per share, for a total cost of approximately $8,749,140, excluding fees and expenses related to the tender offer. With completion of the tender offer, the Company has approximately 7,408,516 shares outstanding. Based on a final count by the Depositary for the tender offer, 4,691,743 shares were properly tendered and not withdrawn, including 3,948,248 shares at a purchase price of $5.00 per share. The Depositary has advised the Company that the final proration factor was approximately 43% for the tender offer.
Collectors Universe, Inc. Announces Preliminary Results Of Tender Offer
Collectors Universe, Inc. announced the preliminary results of its previously announced modified "Dutch Auction" tender offer to purchase for cash up to 1,750,000 shares of its common stock, $0.001 par value (including associated preferred share purchase rights issued under the Rights Agreement, dated as of January 9, 2009, between the Company and StockTrans, Inc., as the Rights Agent), at a price per share of not less than $5.00 and not greater than $5.40, for a maximum aggregate purchase price of approximately $9,450,000. The tender offer expired on July 2, 2009. Based on the preliminary count by the Depositary for the tender offer, more than 1,750,000 shares were tendered at, or above, the minimum purchase price. The Company, therefore, expects to purchase approximately 1,750,000 shares in the tender offer, at a price of $5.00 per share, for a total cost of approximately $8,750,000, excluding fees and expenses related to the tender offer. Due to oversubscription, the number of shares the Company will purchase from each tendering stockholder will be pro-rated, but all shares purchased in the tender offer will be purchased at the same price. With completion of the tender offer, the Company will have approximately 7,408,343 shares outstanding.
Collectors Universe, Inc. Commences Dutch Auction Tender Offer To Repurchase Up To 1.75 Million Shares Of Its Outstanding Common Stock
Collectors Universe, Inc. announced that it is commencing a modified Dutch Auction tender offer to purchase for cash up to 1,750,000 shares of its common stock, $.001 par value (including associated preferred share purchase rights issued under the Rights Agreement dated as of January 9, 2009 between the Company and StockTrans, Inc., as the Rights Agent), at a price per share of not less than $5.00 and not greater than $5.40, for a maximum aggregate purchase price of approximately $9,450,000. The closing price of the Company's stock was $4.55 on June 1, 2009, the last trading day preceding the commencement of the tender offer. The Company expects the tender offer to expire on July 2, 2009, unless extended or withdrawn. The Company intends to fund this tender offer with cash on hand. B. Riley & Co., LLC is acting as the Company's financial advisor and will act as the Information Agent for the offering. The Depositary will be StockTrans, Inc.
Collectors Universe, Inc.'s Michael Haynes To Depart As CEO
Collectors Universe, Inc. announced that Chief Executive Officer (CEO) Michael Haynes will depart the Company as of April 1, 2009 to pursue other opportunities. Michael McConnell, a member of the Board of Directors of the Company, has been appointed as interim Chief Executive Officer.
