Cosan Ltd.
No odd-lot preference
Unclear — read the filing yourself
This offer mentions odd lots only to say they get no special treatment. Odd-lot tenders are prorated like everyone else's.
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 | 2017-12-19 |
| 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 |
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...See Section 1. If I own fewer than 100 shares and I tender all of my shares, will I be subject to proration? If you own beneficially or of record fewer than 100 shares in the aggregate, you properly tender all of those shares before the Offer expires and you complete the section entitled “Odd Lots” in the Letter of Transmittal and, if applicable, in the Notice of Guaranteed Delivery, we will purchase all of your shares without subjecting them to the proration procedure. See Section 1. Once I have tendered shares in the Offer, can I withdraw my tender? Yes. You may withdraw any shares you have tendered at any time before 11:59 p.m., New York City time, on Decem...
expiry = 2017-12-19...S.$200,000,000 of its Class A Common Shares at a Per Share Purchase Price Not Greater Than U.S.$9.65 Nor Less Than U.S.$9.23 Per Class A Common Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 11:59 P.M., NEW YORK CITY TIME, ON DECEMBER 19, 2017 UNLESS THE OFFER IS EXTENDED (THE “EXPIRATION TIME”). Cosan Limited, a limited liability exempted company incorporated under the laws of Bermuda (the “Company,” “we,” or “us”), is offering to purchase Class A Common Shares, U.S.$.01 par va...
listed = True...t, at any time and 14 from time to time in our reasonable discretion before the Expiration Time. Any determination by us concerning the events described in this section will be final and binding upon all persons. 8. Price Range of Shares; Dividends The shares are traded on the NYSE under the symbol “CZZ.” The BDRs representing our shares are listed on the B3 and trade under the symbol “CZLT33.” The following table sets forth the high and low closing sales prices for our shares on the NYSE and the BDRs representing our shares on the B3 for the periods indicated. COSAN LIMITED CLASS A COMMON SHARES; TICKER: CZZ NYSE...
mechanism = DUTCH...ase for cash up to U.S.$200,000,000 in class A common shares, par value U.S.$.01 per share. See Section 1. What will the purchase price for the shares be and what will be the form of payment? We are conducting this Offer through a procedure commonly called a “modified Dutch auction.” Upon the terms and subject to the conditions of the Offer, we are offering to purchase for cash shares pursuant to (i) Auction Tenders at prices specified by the tendering shareholders of not greater than U.S.$9.65 nor less than U.S.$9.23 per share or (ii) Purchase Price Tenders. Shares tendered pursuant to Purchase Price Tenders will...
must_tender_all = True...ect to purchase, subject to applicable law) are properly tendered and not properly withdrawn, we will purchase shares in the following order of priority: · First, we will purchase all “odd lots” of fewer than 100 shares at the Purchase Price from shareholders who properly tender all of their shares owned beneficially or of record by such odd lot holder at or below the iv Purchase Price and who do not properly withdraw them before the Expiration Time (tenders of fewer than all of the shares owned, beneficially or of record, by such odd lot holder will not qualify for this preference); · Second, after purchasing all the odd lots that...
no_priority = True...person, the appropriate IRS Form W-8, may be subject to U.S. federal backup withholding tax of 28% of the gross proceeds paid to the shareholder or other payee pursuant to the Offer. See Section 3. 6. Conditional Tender of Shares Subject to the exception for Odd Lot Holders, in the event of an over-subscription of the Offer, shares tendered prior to the Expiration Time will be subject to proration. See Section 1. As discussed in Section 14, the number of shares to be purchased from a particular shareholder may affect the U.S. federal income tax treatment of the purchase to the shareholder and the shareholder’s decision whether to tender. The conditional tender alternative is made available for shareholders seeking to take steps to...
priority_conflicting = True...ase price of more than U.S.$200,000,000 (or such greater aggregate purchase price of shares as we may elect to purchase, subject to applicable law) are properly tendered and not properly withdrawn, we will purchase shares in the following order of priority: · First, we will purchase all “odd lots” of fewer than 100 shares at the Purchase Price from shareholders who properly tender all of their shares owned beneficially or of record by such odd lot holder at or below the iv Purchase Price and who do not properly withdraw them before the Expiration Time (tenders of fewer than all of the shares owned, beneficially or of record, by such odd lot holder will no...
threshold = 100...00,000,000 (or such greater aggregate purchase price of shares as we may elect to purchase, subject to applicable law) are properly tendered and not properly withdrawn, we will purchase shares in the following order of priority: · First, we will purchase all “odd lots” of fewer than 100 shares at the Purchase Price from shareholders who properly tender all of their shares owned beneficially or of record by such odd lot holder at or below the iv Purchase Price and who do not properly withdraw them before the Expiration Time (tenders of fewer than all of the shares owned, beneficially or of record, by such odd lot holder will no...
txn_type = TENDER_OFFEREX-99.(A)(1)(A) 2 dp83061_ex99a1a.htm EXHIBIT (A)(1)(A) Exhibit (a)(1)(A) Offer to Purchase for Cash by COSAN LIMITED of Up to U.S.$200,000,000 of its Class A Common Shares at a Per Share Purchase Price Not Greater Than U.S.$9.65 Nor Less Than U.S.$9.23 Per Class A Common Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 11:59 P.M., NEW YORK CITY TIME, ON DECEMBER 19, 2017 UNLESS THE OFFER IS EXTENDED (THE...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2017-11-20 | SC TO-I | original (governing) | View |