AMERINST INSURANCE GROUP LTD
Not traded — nothing to buy
Read automatically from the filing
The filing says these shares are not traded on any market. The odd-lot term may be real, but there is no way to buy the shares, so there is no trade here.
In a Dutch auction, tendering too high can cost you the priority. The company picks the lowest price that buys the shares it wants, and everyone at or below that price gets it. Tender above it and your shares come back unpurchased — and because you are not in the accepted pool at all, the odd-lot priority never applies. Most offers have a box meaning "accept whatever price is determined", which keeps you in the pool; the trade-off is that you give up any say in the price. The filing explains both.
| Status | Closed |
|---|---|
| Closing date | 2005-01-21 |
| How it is priced | Dutch auction |
| Odd-lot threshold | Fewer than 100 shares |
| Must tender everything you hold | Yes |
| Must tick the odd-lot box on the form | Yes |
| Price offered | USD $60.00 to $75.00 per share |
| Cleared at | $60.00 |
| Most an odd-lot tender could be | $5,940.00 |
How it finished
| Shares tendered | 98,857 |
|---|
Where each of these comes from
Every line above was read out of the filing. Here is the wording it was read from, so you can check it.
election_required = True...aware that this election could mean that none of the shares tendered at a price chosen by you will be purchased if that price is higher than the purchase price we eventually select after the expiration date. Odd lot holders who tender all of their shares must complete the section entitled “Odd Lots” in the Letter of Transmittal to qualify for the preferential treatment available to odd lot holders described in Section 1. 15 Table of Contents You may tender shares subject to the condition that all of your shares must be purchased in the tender offer. If you desire to make such a conditional tender, you should so indicate in the box entitled “Conditional Tender”...
election_required = True...ion could mean that none of the shares tendered at a price chosen by you will be purchased if that price is higher than the purchase price we eventually select after the expiration date. 15 Table of Contents Odd lot holders who tender all of their shares must complete the section entitled “Odd Lots” in the Letter of Transmittal to qualify for the preferential treatment available to odd lot holders described in Section 1. You may tender shares subject to the condition that all of your shares must be purchased in the tender offer. If you desire to make such a conditional tender, you should so indicate in the box entitled “Conditional Tender” in the Letter of Tran...
election_required = True...aware that this election could mean that none of the shares tendered at a price chosen by you will be purchased if that price is higher than the purchase price we eventually select after the expiration date. Odd lot holders who tender all of their shares must complete the section entitled “Odd Lots” in the Letter of Transmittal to qualify for the preferential treatment available to odd lot holders described in Section 1. 15 Table of Contents You may tender shares subject to the condition that all of your shares must be purchased in the tender offer. If you desire to make such a conditional tender, you should so indicate in the box entitled “Conditional Tender”...
expiry = 2005-01-18...004 Table of Contents Exhibit (a)(1)(i) AMERINST INSURANCE GROUP, LTD. Offer to Purchase for Cash Up to 60,000 Common Shares at a Purchase Price not greater than $75.00 or less than $60.00 THIS OFFER WILL EXPIRE AT 12:00 MIDNIGHT, EASTERN TIME, ON TUESDAY, JANUARY 18, 2005, UNLESS EXTENDED. AmerInst Insurance Group, Ltd. (the “Company,” “AmerInst,” or “we”), through its indirect wholly owned subsidiary, AmerInst Investment Company, Ltd. (“Investco”), hereby offers to purchase, for cash, up to 60,000 of our c...
expiry = 2005-01-18...Contents Exhibit (a)(1)(i) AMERINST INSURANCE GROUP, LTD. Offer to Purchase for Cash Up to 60,000 Common Shares at a Purchase Price not greater than $75.00 or less than $60.00 (as Amended) THIS OFFER WILL EXPIRE AT 12:00 MIDNIGHT, EASTERN TIME, ON TUESDAY, JANUARY 18, 2005, UNLESS EXTENDED. AmerInst Insurance Group, Ltd. (the “Company,” “AmerInst,” or “we”), through its indirect wholly owned subsidiary, AmerInst Investment Company, Ltd. (“Investco”), hereby offers to purchase, for cash, up to 60,000 of our c...
expiry = 2005-01-21...Contents Exhibit (a)(1)(i) AMERINST INSURANCE GROUP, LTD. Offer to Purchase for Cash Up to 60,000 Common Shares at a Purchase Price not greater than $75.00 or less than $60.00 (as Amended) THIS OFFER WILL EXPIRE AT 12:00 MIDNIGHT, EASTERN TIME, ON FRIDAY, JANUARY 21, 2005, UNLESS EXTENDED. AmerInst Insurance Group, Ltd. (the “Company,” “AmerInst,” or “we”), through its indirect wholly owned subsidiary, AmerInst Investment Company, Ltd. (“Investco”), hereby offers to purchase, for cash, up to 60,000 of our c...
mechanism = DUTCH...ed on any minimum number of shares being tendered, but is subject to other conditions. See Section 7. What will the purchase price for the shares be and what will be the form of payment? We are conducting the tender offer through a procedure commonly called a modified “Dutch Auction.” This procedure allows you to select the price within a price range specified by us at which you are willing to sell your shares. The price range for the tender offer is $60.00 to $75.00 per share. We will select the lowest purchase price that will enable us to buy 60,000 shares or, if fewer shares are properly tendered, all shares that...
mechanism = DUTCH...ed on any minimum number of shares being tendered, but is subject to other conditions. See Section 7. What will the purchase price for the shares be and what will be the form of payment? We are conducting the tender offer through a procedure commonly called a modified “Dutch Auction.” This procedure allows you to select the price within a price range specified by us at which you are willing to sell your shares. The price range for the tender offer is $60.00 to $75.00 per share. We will select the lowest purchase price that will enable us to buy 60,000 shares or, if fewer shares are properly tendered, all shares that...
mechanism = DUTCH...ed on any minimum number of shares being tendered, but is subject to other conditions. See Section 7. What will the purchase price for the shares be and what will be the form of payment? We are conducting the tender offer through a procedure commonly called a modified “Dutch Auction.” This procedure allows you to select the price within a price range specified by us at which you are willing to sell your shares. The price range for the tender offer is $60.00 to $75.00 per share. We will select the lowest purchase price that will enable us to buy 60,000 shares or, if fewer shares are properly tendered, all shares that...
mechanism = DUTCH...X-99.(A)(5)(III) 2 dex99a5iii.htm PRESS RELEASE Press Release AmerInst Insurance Group, Ltd. Press Release Media Contact Ronald Katch Katch, Tyson & Company, CPAs Tel. 847-446-3700 For Immediate Release: January 24, 2005 AMERINST ANNOUNCES PRELIMINARY RESULTS OF DUTCH AUCTION TENDER OFFER Hamilton, Bermuda — AmerInst Insurance Group, Ltd., a provider of reinsurance protection for CPA firms, today announced the preliminary results of the tender offer being made through its indirect wholly owned subsidiary, AmerInst Investment Company, Ltd., to purchase up to 60,000 of its outstanding common shares at a price p...
mechanism = DUTCHEX-99.(A)(5)(IV) 2 dex99a5iv.htm PRESS RELEASE Press release AmerInst Insurance Group, Ltd. Press Release Media Contact Ronald Katch Katch, Tyson & Company, CPAs Tel. 847-446-3700 For Immediate Release: January 28, 2005 AMERINST ANNOUNCES FINAL RESULTS OF DUTCH AUCTION TENDER OFFER Hamilton, Bermuda — AmerInst Insurance Group, Ltd., a provider of reinsurance protection for CPA firms, today announced the final results of the tender offer made through its indirect wholly owned subsidiary, AmerInst Investment Company, Ltd., to purchase up to 60,000 of its outstanding common shares at a price per share of...
must_tender_all = True...and the name of the registered holder of the shares. See Section 4. In what order will you purchase the tendered shares? In the event the tender offer is over-subscribed, we will purchase shares: • first, from all holders of “odd lots” of less than 100 shares who properly tender all of their shares at or below the purchase price selected by us and do not properly withdraw them before the expiration date; • second, on a pro rata basis, from all other shareholders who properly tender shares at or below the purchase price selected by us (except shareholders who tendered conditionally as described in Section 6); and • third, only if ne...
must_tender_all = True...and the name of the registered holder of the shares. See Section 4. In what order will you purchase the tendered shares? In the event the tender offer is over-subscribed, we will purchase shares: • first, from all holders of “odd lots” of less than 100 shares who properly tender all of their shares at or below the purchase price selected by us and do not properly withdraw them before the expiration date; • second, on a pro rata basis, from all other shareholders who properly tender shares at or below the purchase price selected by us (except shareholders who tendered conditionally as described in Section 6); and • third, only if ne...
must_tender_all = True...and the name of the registered holder of the shares. See Section 4. In what order will you purchase the tendered shares? In the event the tender offer is over-subscribed, we will purchase shares: • first, from all holders of “odd lots” of less than 100 shares who properly tender all of their shares at or below the purchase price selected by us and do not properly withdraw them before the expiration date; • second, on a pro rata basis, from all other shareholders who properly tender shares at or below the purchase price selected by us (except shareholders who tendered conditionally as described in Section 6); and • third, only if ne...
price = USD 60.0-75.0...re commonly called a modified “Dutch Auction.” This procedure allows you to select the price within a price range specified by us at which you are willing to sell your shares. The price range for the tender offer is $60.00 to $75.00 per share. We will select the lowest purchase price that will enable us to buy 60,000 shares or, if fewer shares are properly tendered, all shares that are properly tendered and not properly withdrawn. We will purchase...
price = USD 60.0-75.0...re commonly called a modified “Dutch Auction.” This procedure allows you to select the price within a price range specified by us at which you are willing to sell your shares. The price range for the tender offer is $60.00 to $75.00 per share. We will select the lowest purchase price that will enable us to buy 60,000 shares or, if fewer shares are properly tendered, all shares that are properly tendered and not properly withdrawn. We will purchase...
price = USD 60.0-75.0...re commonly called a modified “Dutch Auction.” This procedure allows you to select the price within a price range specified by us at which you are willing to sell your shares. The price range for the tender offer is $60.00 to $75.00 per share. We will select the lowest purchase price that will enable us to buy 60,000 shares or, if fewer shares are properly tendered, all shares that are properly tendered and not properly withdrawn. We will purchase...
price = USD 60.0...riday, January 21, 2005. Based on a preliminary count by the depositary for the tender offer, 98,857 shares of common stock were properly tendered and not withdrawn at the minimum purchase price of $60.00 per share. AmerInst intends to exercise its right to purchase additional shares of common stock without extending the tender offer in accordance with applicable securities laws. Accordingly, AmerInst expects to purchase an aggreg...
price = USD 60.0...on Friday, January 21, 2005. Based on the final count by the depositary for the tender offer, 98,857 shares of common stock were properly tendered and not withdrawn at the minimum purchase price of $60.00 per share. AmerInst will exercise its right to purchase additional shares of common stock without extending the tender offer in accordance with applicable securities laws. Accordingly, AmerInst has accepted for purchase an aggreg...
threshold = 100...those shares will be purchased, even though those shares were tendered at prices at or below the purchase price. Odd Lots The term “odd lots” means all shares properly tendered at prices at or below the purchase price selected by us held by a shareholder, an odd lot holder, who owns beneficially or of record an aggregate of fewer than 100 shares and so certifies in the appropriate place on the related Letter of Transmittal. To qualify for this preference, an odd lot holder must tender all shares owned beneficially or of record by the odd lot holder in accordance with the procedures described in Section 3. As set forth above, odd lots will be accepted for payment before proration...
threshold = 100...those shares will be purchased, even though those shares were tendered at prices at or below the purchase price. Odd Lots The term “odd lots” means all shares properly tendered at prices at or below the purchase price selected by us held by a shareholder, an odd lot holder, who owns beneficially or of record an aggregate of fewer than 100 shares and so certifies in the appropriate place on the related Letter of Transmittal. To qualify for this preference, an odd lot holder must tender all shares owned beneficially or of record by the odd lot holder in accordance with the procedures described in Section 3. As set forth above, odd lots will be accepted for payment before proration...
threshold = 100...those shares will be purchased, even though those shares were tendered at prices at or below the purchase price. Odd Lots The term “odd lots” means all shares properly tendered at prices at or below the purchase price selected by us held by a shareholder, an odd lot holder, who owns beneficially or of record an aggregate of fewer than 100 shares and so certifies in the appropriate place on the related Letter of Transmittal. To qualify for this preference, an odd lot holder must tender all shares owned beneficially or of record by the odd lot holder in accordance with the procedures described in Section 3. As set forth above, odd lots will be accepted for payment before proration...
txn_type = TENDER_OFFEREX-99.(A)(1)(I) 2 dex99a1i.htm OFFER TO PURCHASE DATED DECEMBER 17, 2004 Offer to Purchase dated December 17, 2004 Table of Contents Exhibit (a)(1)(i) AMERINST INSURANCE GROUP, LTD. Offer to Purchase for Cash Up to 60,000 Common Shares at a Purchase Price not greater than $75.00 or less than $60.00 THIS OFFER WILL EXPIRE AT 12:00 MIDNIGHT, EASTERN TIME, ON TUESDAY, JANUARY 18, 2005, UN...
txn_type = TENDER_OFFEREX-99.(A)(1)(I) 2 dex99a1i.htm OFFER TO PURCHASE Offer to Purchase Table of Contents Exhibit (a)(1)(i) AMERINST INSURANCE GROUP, LTD. Offer to Purchase for Cash Up to 60,000 Common Shares at a Purchase Price not greater than $75.00 or less than $60.00 (as Amended) THIS OFFER WILL EXPIRE AT 12:00 MIDNIGHT, EASTERN TIME, ON TUESDAY, JANUARY 18, 2005, UNLESS EXTENDED. AmerInst Insurance G...
txn_type = TENDER_OFFEREX-99.(A)(1)(I) 2 dex99a1i.htm OFFER TO PURCHASE DATED DECEMBER 17, 2004, AS AMENDED Offer to Purchase dated December 17, 2004, as amended Table of Contents Exhibit (a)(1)(i) AMERINST INSURANCE GROUP, LTD. Offer to Purchase for Cash Up to 60,000 Common Shares at a Purchase Price not greater than $75.00 or less than $60.00 (as Amended) THIS OFFER WILL EXPIRE AT 12:00 MIDNIGHT, EASTERN T...
txn_type = TENDER_OFFER...2 dex99a5iii.htm PRESS RELEASE Press Release AmerInst Insurance Group, Ltd. Press Release Media Contact Ronald Katch Katch, Tyson & Company, CPAs Tel. 847-446-3700 For Immediate Release: January 24, 2005 AMERINST ANNOUNCES PRELIMINARY RESULTS OF DUTCH AUCTION TENDER OFFER Hamilton, Bermuda — AmerInst Insurance Group, Ltd., a provider of reinsurance protection for CPA firms, today announced the preliminary results of the tender offer being made through its indirect wholly owned subsidiary, AmerInst Investment Company, Ltd., to purchase up to 60,000 of its outstanding common shares at a price per share of n...
txn_type = TENDER_OFFER...5)(IV) 2 dex99a5iv.htm PRESS RELEASE Press release AmerInst Insurance Group, Ltd. Press Release Media Contact Ronald Katch Katch, Tyson & Company, CPAs Tel. 847-446-3700 For Immediate Release: January 28, 2005 AMERINST ANNOUNCES FINAL RESULTS OF DUTCH AUCTION TENDER OFFER Hamilton, Bermuda — AmerInst Insurance Group, Ltd., a provider of reinsurance protection for CPA firms, today announced the final results of the tender offer made through its indirect wholly owned subsidiary, AmerInst Investment Company, Ltd., to purchase up to 60,000 of its outstanding common shares at a price per share of not less than...
untradeable = True...e for simplicity we use the term “we” throughout this document, including with respect to purchase and payment for shares, you should understand that Investco will be paying for and acquiring the shares. See Section 1. What is the purpose of the tender offer? There is no established market for our common shares, and transfers are subject to restrictions, including approval of AmerInst’s Board. As a result our common shares are an illiquid investment. The purpose of the tender offer is to provide holders of our common shares the opportunity to sell some or all of their shares for cash in an efficient manner with funds not required by the current...
untradeable = True...ages. For these reasons, the tender offer is being conducted through Investco. The acquisition of shares by Investco could have anti-takeover effects, as discussed elsewhere in this Summary Term Sheet and in Section 2. What is the purpose of the tender offer? There is no established market for our common shares, and transfers are subject to restrictions, including approval of AmerInst’s Board. As a result our common shares are an illiquid investment. The purpose of the tender offer is to provide holders of our common shares the opportunity to sell some or all of their shares for cash in an efficient manner with funds not required by the current...
untradeable = True...ages. For these reasons, the tender offer is being conducted through Investco. The acquisition of shares by Investco could have anti-takeover effects, as discussed elsewhere in this Summary Term Sheet and in Section 2. What is the purpose of the tender offer? There is no established market for our common shares, and transfers are subject to restrictions, including approval of AmerInst’s Board. As a result our common shares are an illiquid investment. The purpose of the tender offer is to provide holders of our common shares the opportunity to sell some or all of their shares for cash in an efficient manner with funds not required by the current...
final_price = 60.0...ight, Eastern time, on Friday, January 21, 2005. Based on the final count by the depositary for the tender offer, 98,857 shares of common stock were properly tendered and not withdrawn at the minimum purchase price of $60.00 per share. AmerInst will exercise its right to purchase additional shares of common stock without extending the tender offer in accordance with applicable securities laws. Accordingly, AmerInst has accepted for purchase an aggregate of 65,959 shares at $60.00 per share, including all odd...
tendered = 98857...than $60.00 nor in excess of $75.00 per share. The tender offer expired at 12:00 Midnight, Eastern time, on Friday, January 21, 2005. Based on the final count by the depositary for the tender offer, 98,857 shares of common stock were properly tendered and not withdrawn at the minimum purchase price of $60.00 per share. AmerInst will exercise its right to purchase additional shares of common stock without extending the tender offer in accordance with applicable securities laws. Accordingly, AmerInst has accepted for purchase a...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2004-12-17 | SC TO-I | original (governing) | View |
| 2005-01-05 | SC TO-I/A | amendment | View |
| 2005-01-12 | SC TO-I/A | amendment | View |
| 2005-01-24 | SC TO-I/A | amendment | View |
| 2005-01-28 | SC TO-I/A | amendment | View |