Global Sources begins tender offer for up to 13.4% of common stock

By Lisa Kerner

Charlotte, N.C., Nov. 21 - Global Sources Ltd. began its cash tender offer for up to 6.25 million shares, or 13.4%, of its outstanding common stock at $8 per share for up to $50 million.

The offer, which is not conditioned on a minimum number of shares being tendered, is slated to end at midnight ET on Dec. 19, a Global Sources news release said.

As of Nov. 1, there were 46,703,494 shares of Global Sources common stock issued and outstanding.

The company announced plans for the offer on Nov. 13.

Information agent for the offer is Georgeson Inc. (866 295-4321).

Global Sources is a Hong Kong business-to-business media company.

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