Odd Lot Index

DOMINION RESOURCES INC /VA/ D

Terms unclear

Unclear — read the filing yourself
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.
StatusClosed
Closing date2007-08-07
How it is pricedDutch auction
Odd-lot thresholdFewer than 100 shares
Must tender everything you holdYes
Must tick the odd-lot box on the formYes
Price offeredUSD $82.00 to $92.00 per share, in steps of $0.25
Most an odd-lot tender could be$8,118.00 to $9,108.00

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...fer. This means that these holders will not be subject to proration if more than 55,000,000 shares are tendered. To receive “odd lot” priority, you must: • validly tender your shares at or below the purchase price selected by us before the Offer expires and • complete the section entitled “Odd Lots” in the Letter of Transmittal including checking the appropriate box and, if applicable, in the Notice of Guaranteed Delivery. If such conditions are met, we will purchase all of your shares without subjecting them to the proration procedure. The “odd lot” priority will not apply to participants in our Savings Plans. See Section 1. Once I have tendered shares in the...
expiry = 2007-08-07...(A) Offer to Purchase for Cash Up to 55,000,000 Shares of its Common Stock at a Purchase Price Not Greater Than $92.00 nor Less Than $82.00 per Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., EASTERN TIME, ON AUGUST 7, 2007, UNLESS THE OFFER IS EXTENDED Dominion Resources, Inc., a Virginia corporation (the “Company,” “Dominion” “we,” or “us”), is offering to purchase up to 55,000,000 shares of its common stock, without par value (the “common stock”), at a pri...
listed = True...re the Dealer Managers for the Offer. Their addresses and telephone numbers appear on the back cover of this Offer to Purchase. The Dealer Managers for the Offer are: MORGAN STANLEY MERRILL LYNCH & CO. July 10, 2007 Table of Contents The shares are listed and traded on the New York Stock Exchange (the “NYSE”) under the symbol “D.” On June 27, 2007, the last full trading day before we announced our intention to make the Offer, the reported closing price of our common stock on the NYSE was $83.55 per share. On July 6, 2007, the last trading day prior to printing this Offer to Purchase, the reported closing price of our common stock on the NYS...
mechanism = DUTCH...nal shares, representing up to 2% of our outstanding shares (approximately 7 million shares). See Section 1. What will the purchase price for the shares be and what will be the form of payment? We are conducting the Offer through a procedure commonly called a modified “Dutch Auction.” This procedure allows you to select the price (in increments of $0.25) within a price range specified by us at which you are willing to sell your shares. The price range for the Offer is $82.00 to $92.00 per share. The purchase price will be the lowest price at which, based on the number of shares tendered and the prices specified by t...
must_tender_all = True...res (or such greater number of shares as we may elect to purchase, subject to applicable law) are validly tendered and not validly withdrawn prior to the Expiration Time, we will purchase shares: • first, from all holders of “odd lots” of less than 100 shares who validly tender all of their shares at or below the purchase price selected by us, and do not validly withdraw them before the Expiration Time; • second, from all other stockholders who validly tender shares at or below the purchase price selected by us, on a pro rata basis (except for stockholders who tendered shares conditionally for which the condition was not satisfied...
price = USD 82.0-92.0...fied “Dutch Auction.” This procedure allows you to select the price (in increments of $0.25) within a price range specified by us at which you are willing to sell your shares. The price range for the Offer is $82.00 to $92.00 per share. The purchase price will be the lowest price at which, based on the number of shares tendered and the prices specified by the tendering stockholders, we can purchase 55,000,000 shares, or such lesser number of...
threshold = 100...shares, it is possible that none of those shares will be purchased. Odd Lots. The term “Odd Lots” means all shares properly tendered prior to the Expiration Time at prices at or below the purchase price selected by us and not properly withdrawn by any person who owned beneficially or of record fewer than 100 shares and so certified in the appropriate place on the Letter of Transmittal and, if applicable, on the Notice of Guaranteed Delivery (an “Odd Lot Holder”). To qualify for this preference, an Odd Lot Holder must tender all shares owned by the Odd Lot Holder in accordance with the procedures 6 Table of Contents described in Section 3. Odd Lots...
txn_type = TENDER_OFFEREX-99.A1A 2 dex99a1a.htm OFFER TO PURCHASE Offer to Purchase Table of Contents Exhibit (a)(1)(A) Offer to Purchase for Cash Up to 55,000,000 Shares of its Common Stock at a Purchase Price Not Greater Than $92.00 nor Less Than $82.00 per Share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., EASTERN TIME, ON AUGUST 7, 2007, UNLESS THE OFFER IS EXTENDED D...

The filings

FiledFormRoleOn EDGAR
2007-07-10SC TO-Ioriginal (governing)View