Odd Lot Index

HARRODSBURG FIRST FINANCIAL BANCORP 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 date2003-06-30
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 $15.00 to $16.50 per share, in steps of $0.25
Most an odd-lot tender could be$1,485.00 to $1,633.50

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...any “odd lot holder” (as defined below) who: • tenders all shares owned (beneficially or of record) by the odd lot holder at a price equal to or below the purchase price (tenders of less than all the shares owned will not qualify for this preference); and 2 • completes the section entitled “Odd Lots” in the letter of transmittal and, if applicable, in the notice of guaranteed delivery. • Second, after the purchase of all the shares properly tendered by odd lot holders and subject to the conditional tender procedures described under “—Conditional Tender Procedures,” all other shares properly tendered at prices equal to or below the purchase price, on a pro rata b...
expiry = 2003-06-30...uth Chiles Street Harrodsburg, Kentucky 40330-1620 OFFER TO PURCHASE UP TO 300,000 SHARES OF COMMON STOCK OF HARRODSBURG FIRST FINANCIAL BANCORP, INC. OUR OFFER AND YOUR RIGHT TO WITHDRAW YOUR SHARES WILL EXPIRE AT 5:00 P.M., EASTERN TIME, ON JUNE 30, 2003, UNLESS THE OFFER IS EXTENDED. WE MAY EXTEND THE OFFER PERIOD AT ANY TIME. HARRODSBURG FIRST FINANCIAL BANCORP, INC. IS: • offering to purchase up to 300,000 shares of our common stock in a tender offer, and • offering to purchase these sh...
listed = True...e or prices at which you will tender them. You should discuss whether to tender your shares with your broker or other financial or tax advisor. See “The Offer—Purposes of and Reasons for the Offer.” WHAT IS A RECENT MARKET PRICE OF MY SHARES? Our common stock is traded on the NASDAQ National Market System under the symbol “HFFB.” On May 22, 2003, a date close to the date of this document, the last reported sales price of our common stock on the NASDAQ National Market was $15.40. We urge you to obtain more current market quotations for your shares. For trading information regarding the shares, you may call Keefe, Bruyette & Woods, Inc. toll free...
mechanism = DUTCH...offering to purchase up to 300,000 shares of our outstanding common stock. See “The Offer—Information About Us.” WHAT IS THE PURCHASE PRICE? The price range for our offer is $15.00 to $16.50. We are conducting the offer through a procedure commonly called a “Modified Dutch Auction.” This procedure allows you to choose a price within this price range at which you are willing to sell your shares. We will look at the prices chosen by shareholders for all of the shares properly tendered. We will then select the lowest price that will allow us to buy up to 300,000 shares. If a lesser number of shares is tendered, we wi...
must_tender_all = True...ow the selected purchase price, we will purchase shares based on the following order of priority: • First, we will purchase shares from all holders of “odd lots” of less than 100 shares (not including any shares held in either the Profit Sharing Plan or ESOP) who properly tender all of their shares at prices equal to or below the selected price. • Second, we will purchase shares from all other shareholders who properly tender shares at prices equal to or below the selected price, on a pro rata basis, subject to the conditional tender provisions described under “The Offer—Conditional Tender Procedures.” As a result, we will purchase...
price = USD 15.0-16.5...RING TO PURCHASE MY SHARES? We are offering to purchase up to 300,000 shares of our outstanding common stock. See “The Offer—Information About Us.” WHAT IS THE PURCHASE PRICE? The price range for our offer is $15.00 to $16.50. We are conducting the offer through a procedure commonly called a “Modified Dutch Auction.” This procedure allows you to choose a price within this price range at which you are willing to sell your shares. We will look...
threshold = 100...to the greater number of shares. ODD LOTS. For purposes of our offer, the term “odd lots” means all shares properly tendered before the expiration date at prices equal to or below the purchase price and not properly withdrawn by any person, referred to as an “odd lot holder,” who owns, beneficially or of record, a total of fewer than 100 shares and certifies to that fact in the “Odd Lots” box on the letter of transmittal and, if applicable, on the notice of guaranteed delivery. As set forth above, odd lots will be accepted for payment before proration, if any, of the purchase of other tendered shares. To qualify for this preference, an odd lot holder must tender all shares owne...
txn_type = TENDER_OFFEREX-99.A.1 3 dex99a1.htm FORM OF OFFER TO PURCHASE Form of Offer to Purchase Exhibit 99.a.1 HARRODSBURG FIRST FINANCIAL BANCORP, INC. 104 South Chiles Street Harrodsburg, Kentucky 40330-1620 OFFER TO PURCHASE UP TO 300,000 SHARES OF COMMON STOCK OF HARRODSBURG FIRST FINANCIAL BANCORP, INC. OUR OFFER AND YOUR RIGHT TO WITHDRAW YOUR SHARES WILL EXPIRE AT 5:00 P.M., EASTERN TIME, ON JUNE 30...

The filings

FiledFormRoleOn EDGAR
2003-05-28SC TO-Ioriginal (governing)View