Odd Lot Index

FARMERS CAPITAL BANK CORP

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 date2007-08-16
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 $31.00 to $35.00 per share, in steps of $0.25
Most an odd-lot tender could be$3,069.00 to $3,465.00

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...record holders of a total of 100 or more shares, even if these holders have separate accounts or certificates representing fewer than 100 shares. Any shareholder wishing to tender all of the shareholder's shares pursuant to this preference for Odd Lots should check the boxes under the caption "Odd Lots" on the Letter of Transmittal and, if applicable, on the Notice of Guaranteed Delivery. See Instruction 6 on the Letter of Transmittal. By accepting the Offer to Purchase, a shareholder holding beneficially fewer than 100 shares will avoid the payment of brokerage commissions and the applicable odd lot discount payable in a sale of such...
expiry = 2007-08-16...rice Not Greater Than $35.00 Nor Less Than $31.00 per Share -------------------------------------------------------------------------------- Our Offer, the Proration Period and Your Right to Withdraw will Expire at 12:01 a.m. (Eastern Daylight Savings Time), on Thursday, August 16, 2007, unless the Offer is extended. -------------------------------------------------------------------------------- We, Farmers Capital Bank Corporation, a Kentucky corporation ("Farmers," the "Company," "we" or "us"), hereby invite our shareh...
listed = True...n Section 9--"Source and Amount of Funds," in an amount that will be sufficient to purchase shares of common stock pursuant to this offer and to pay related fees and expenses. See Section 7--"Conditions of the Offer." Shares of our common stock are listed and traded on The NASDAQ Stock Market under the symbol "FFKT." On July 16, 2007, the last practical trading day before announcement of this offer, the last reported sale price of the shares was $28.67 per share. We encourage you to obtain current market quotations for the shares. See Section 8--"Price Range of Shares; Dividends." Our board of directors has appro...
mechanism = DUTCH...rve the right, in our sole discretion, to purchase additional shares subject to applicable legal requirements. Q. What will the purchase price be? (Section 1--"Number of Shares; Proration.") A: We are conducting our offer through a procedure commonly called a modified "Dutch Auction." This procedure allows you to choose a price or prices (in increments of $0.25) within a specified price range at which you are willing to sell your shares. The price range for this offer is $31.00 to $35.00 per share. We will then examine the prices chosen by shareholders for all of the shares properly tendered and will select the lowe...
must_tender_all = True...t promptly following such amendment or termination. Q. In what order will tendered shares be purchased? (Section 1--"Number of Shares; Proration.") A: We will purchase shares: o first, from all shareholders of "odd lots" (persons who own 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 of the tender offer; o second, subject to the conditional tender provisions described in Section 6--"Conditional Tender of Shares," on a pro rata basis from all other shareholders who properly tender shares at or below the purchase price...
price = USD 31.0-35.0...ed "Dutch Auction." This procedure allows you to choose a price or prices (in increments of $0.25) within a specified price range at which you are willing to sell your shares. The price range for this offer is $31.00 to $35.00 per share. We will then examine the prices chosen by shareholders for all of the shares properly tendered and will select the lowest price that will enable us to buy 550,000 shares. If a lesser number of shares is tende...
threshold = 100...en if you choose a price at or below the purchase price we select. If more than 550,000 shares are tendered at or below the purchase price we select, we will purchase shares first from shares properly tendered at or below the selected price by any shareholder who owns fewer than 100 shares and who tenders all his shares and then from all shareholders who properly tender shares at prices equal to or below the selected price, on a pro rata basis. We will announce this proration percentage, if proration is necessary, after our offer expires. We expressly reserve the right, in our sole discretion, to purchase up to an addition...
txn_type = TENDER_OFFEREX-99.(A)(1)(I) 2 e602370_ex99-a1i.txt OFFER TO PURCHASE Exhibit (a)(1)(i) FARMERS CAPITAL BANK CORPORATION Offer to Purchase for Cash Up to 550,000 Shares of Common Stock at a Purchase Price Not Greater Than $35.00 Nor Less Than $31.00 per Share -------------------------------------------------------------------------------- Our Offer, the Proration Period and Your Right to Withdraw will Expi...

The filings

FiledFormRoleOn EDGAR
2007-07-19SC TO-Ioriginal (governing)View