Liberty Global plc LBTYA
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.
| Status | Closed |
|---|---|
| Closing date | 2019-09-09 |
| How it is priced | Dutch auction |
| Odd-lot threshold | — |
| Must tender everything you hold | Yes |
| Must tick the odd-lot box on the form | Not stated |
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 = 2019-09-09...RE NOR LESS THAN $24.75 PER SHARE Liberty Global Class A Ordinary Shares CUSIP: G5480U 104 Liberty Global Class C Ordinary Shares CUSIP: G5480U 120 THE OFFERS, PRORATION PERIODS AND WITHDRAWAL RIGHTS WILL EXPIRE AT ONE (1) MINUTE AFTER 11:59 P.M., NEW YORK CITY TIME, ON SEPTEMBER 9, 2019, UNLESS THE OFFERS ARE EXTENDED OR TERMINATED. Liberty Global plc, a public limited company organized under the laws of England and Wales (the “Company,” “Liberty Global,” “we,” “us” or “our”), invites our shareholders to tender (i) up to...
expiry = 2019-09-09...hether to exercise SARs and whether to participate in the Tender Offers. If you do decide to exercise your vested SARs and participate in the Tender Offers, you should be aware that the Tender Offers expire at one (1) minute after 11:59 p.m., New York City time, on September 9, 2019, unless extended or terminated by Liberty Global. In addition, as noted above, if the Shares you receive upon exercise of SARs are deposited into a brokerage account, you will have to meet any earlier deadline set by the brokerage firm for...
listed = True...may be eligible to be taxed at favorable rates applicable to “qualified dividend income,” provided that (1) the Shares are readily tradable on an established securities market in the United States (which the Shares should be considered to be, so long as they are listed on NASDAQ), (2) we are not a PFIC (as discussed below) for either our taxable year in which the dividend is paid or the preceding taxable year and (3) certain minimum holding period and other requirements are met. Any amounts we pay, through the Counterparty Banks, that are treated as dividends generally would be treated as foreign source income f...
mechanism = DUTCH...rough share repurchases. We have undertaken various forms of share repurchases since our predecessor Liberty Global, Inc. was established in 2005, and we anticipate that share repurchases will remain a core pillar of our long-term value creation strategy. The modified Dutch auction tender offer set forth in this Offer to Purchase provides our shareholders with the opportunity to tender all or a portion of their Class A Shares and/or Class C Shares and thereby receive a return of some or all of their investment in the Company if they so elect. The Offers also provide our shareholders with an efficient way to sell th...
must_tender_all = True...l, properly completed and duly executed, including any required signature guarantees or (b) an Agent’s Message (as defined below) in the case of a book-entry transfer; and • any other documents required by the applicable Letter of Transmittal. Odd Lot Holders who tender all of their Shares must also complete the section captioned “Odd Lots” in the applicable Letter of Transmittal and, if applicable, in the Notice of Guaranteed Delivery to qualify for the priority treatment available to Odd Lot Holders as set forth in Section 1. The method of delivery of all documents, including certificates for Shares, the Letters of Trans...
txn_type = TENDER_OFFEREX-99.(A)(1)(A) 2 d777794dex99a1a.htm EX-99.(A)(1)(A) EX-99.(a)(1)(A) Table of Contents EXHIBIT (a)(1)(A) LIBERTY GLOBAL PLC OFFER TO PURCHASE FOR CASH UP TO $625 MILLION IN VALUE OF ITS CLASS A ORDINARY SHARES AT A PURCHASE PRICE OF NOT GREATER THAN $29.00 PER SHARE NOR LESS THAN $25.25 PER SHARE AND OFFER TO PURCHASE FOR CASH UP TO $1.875 BILLION IN VALUE OF ITS CLASS C ORDINARY SHARES AT A PURCHASE PRICE OF NOT GREATER THAN $28.50 PER SHARE NOR LESS THAN $24.75 PER SHARE Lib...
txn_type = TENDER_OFFEREX-99.(A)(1)(L) 2 d767962dex99a1l.htm EX-99.(A)(1)(L) EX-99.(a)(1)(L) EXHIBIT (a)(1)(L) LIBERTY GLOBAL PLC NOTICE TO CERTAIN HOLDERS OF SHARE APPRECIATION RIGHTS RE: OFFER TO PURCHASE CLASS A ORDINARY SHARES AND CLASS C ORDINARY SHARES OF LIBERTY GLOBAL PLC August 15, 2019 As you may already know, Liberty Global plc (“Liberty Global”) has recently announced tender offers inviting its shareholders to tender (i) up to $625 million in value of its issued and outstanding Class A ordinary shares, $0.01 nominal value per sh...
The filings
| Filed | Form | Role | On EDGAR |
|---|---|---|---|
| 2019-08-12 | SC TO-I | original (governing) | View |
| 2019-08-15 | SC TO-I/A | amendment | View |