Odd Lot Index

EXFO ELECTRO OPTICAL ENGINEERING INC

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 date2008-12-16
How it is pricedDutch auction
Odd-lot thresholdFewer than 100 shares
Must tender everything you holdNot stated
Must tick the odd-lot box on the formNot stated
Price offeredCAD $3.40 to $3.90 per share, in steps of $0.05
Most an odd-lot tender could be$336.60 to $386.10

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.

expiry = 2008-12-16...Purchase, its accompanying Issuer Bid Circular (the “Circular”) and the related Letter of Transmittal (which together constitute the “Offer”). This Offer will commence on the date set forth below and expire at 5:00 p.m. (Eastern time) on December 16, 2008, unless withdrawn, extended or varied by EXFO (such time on such date, the “Expiration Date”). The Offer is not conditional upon any minimum number of Shares being tendered. The Offer is, however, subject to other conditions and EXFO reser...
listed = True...f MI 61-101. This summary of the opinion of TD Securities Inc. is qualified in its entirety by reference thereto. 19 Table of Contents Additional United States Securities Law Considerations The Shares are registered under Section 12(g) of the Exchange Act and are quoted on NASDAQ. EXFO believes that the purchase of Shares pursuant to the Offer will not result in: (i) the Shares becoming eligible for deregistration under Section 12(g) of the Exchange Act or (ii) the Shares being delisted from NASDAQ. The Shares are currently “margin securities” under the rules of the U.S. Federal Reserve Board. This has the effect...
mechanism = DUTCH...rests of the Corporation and its Shareholders. See “Issuer Bid Circular — Purpose and Effect of the Offer”. 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 within a price range specified by us at which you are willing to sell your Shares. The price range for the Offer is Cdn$3.40 to Cdn$3.90 per Share. We will select the lowest Purchase Price that will allow us to purchase the maximum number of Shares properly tendered and not withdrawn pursua...
price = CAD 3.4-3.9...diction. , EXFO ELECTRO-OPTICAL ENGINEERING INC. OFFER TO PURCHASE FOR NOT MORE THAN CDN$30,000,000 IN CASH up to 8,823,529 of its Subordinate Voting Shares at a Purchase Price of Not Less Than Cdn$3.40 and Not More Than Cdn$3.90 per Share EXFO Electro-Optical Engineering Inc. (“EXFO”, the “Corporation”, “we” or “us”) invites its shareholders (the “Shareholders”) to tender, for purchase and cancellation by the Corporation, subordinate voting sha...
threshold = 100...hase of fractional Shares). For purposes of the Offer, the term “Odd Lots” means all Successfully Tendered Shares tendered by or on behalf of the Successful Shareholders who beneficially own, as of the close of business on the Expiration Date, an aggregate of fewer than 100 Shares (“Odd Lot Holders”). As set forth above, Odd Lots will be accepted for purchase before any pro-ration. In order to qualify for this preference, an Odd Lot Holder must properly tender, pursuant to an Auction Tender at a price at or below the Purchase Price or pursuant to a Purchase Price Tender, all Shares beneficially owned by such Odd Lot Holder....
txn_type = TENDER_OFFER...ffer is not being made to, and tenders will not be accepted from or on behalf of, Shareholders in any jurisdiction in which the making or acceptance thereof would not be in compliance with the laws of that jurisdiction. , EXFO ELECTRO-OPTICAL ENGINEERING INC. OFFER TO PURCHASE FOR NOT MORE THAN CDN$30,000,000 IN CASH up to 8,823,529 of its Subordinate Voting Shares at a Purchase Price of Not Less Than Cdn$3.40 and Not More Than Cdn$3.90 per Share EXFO Electro-Optical Engineering Inc. (“EXFO”, the “Corporation”, “we” or “us”) invites its shareholders (the “Shareholders”) to tender, for purchase and cancellation...

The filings

FiledFormRoleOn EDGAR
2008-11-10SC TO-Ioriginal (governing)View