Blue Ridge Real Estate Company announced that it has extended its odd lot tender offer, which was originally set to expire on Jan. 17 , until 5 P.M. , New York City Time, on Feb. 7 . In a release on Jan. 17 , the Company said the odd lot tender offer has been extended to allow the shareholders of Blue Ridge additional time to evaluate the Company's Offer to Purchase, an amended copy of which was filed with the SEC on Jan. 6 . Shareholders are encouraged to read such amended Offer to Purchase filed with the SEC on Jan. 6 , because it includes important additional information regarding the offer that was not previously included in the Offer to Purchase dated Nov. 25, 2013 , including additional information as to how the Board of Directors determined the offer price was fair. A copy of the amended Offer to Purchase is available on the Company's website at http://brreco.com/ investor.asp. Blue Ridge is continuing to offer to purchase for cash all of its common shares held by holders of 99 or fewer shares of Blue Ridge as of Nov. 21, 2013 , at a purchase price of $11.00 per share. In addition to the $11.00 per share purchase price, Blue Ridge is offering each tendering holder of 99 or fewer shares a $100 bonus upon completion of the Offer for properly executed tenders of all shares beneficially owned by such holder, which are received and not withdrawn prior to the Expiration Time of the Offer. In connection with the Offer, if the results of the Offer allow, Blue Ridge intends to deregister its common shares with the SEC and take the Company private. Tendered shares will be acquired for cash, with no interest payable. The Offer is open only to holders of 99 or fewer shares as of Nov. 21, 2013 . The Offer is not conditioned on any minimum number of total shares being tendered or the receipt of financing. The scheduled Expiration Time for the Offer is 5 p.m. , New York City time on Feb. 7 , but it can be extended at the Company's discretion in accordance with applicable law. Blue Ridge was advised by IST Shareholder Services, the depositary for the Offer that, as of 5 P.M. EST , on Jan. 17 , a total of 1,701 common shares of Blue Ridge had been tendered by 48 holders pursuant to the Offer. Blue Ridge is engaged in real estate development and land sales. Over the past 30 years, Blue Ridge has developed resort residential communities adjacent to the Jack Frost Mountain and Big Boulder Ski Areas located in Lake Harmony , Kidder Township , Pennsylvania . These communities are located in the Pocono Mountains of Pennsylvania . Blue Ridge also developed the Jack Frost National Golf Course . At July 31, 2013 , Blue Ridge owned 11,825 acres of land in Northeastern Pennsylvania along with 13 acres of land in various other states. Of these land holdings, Blue Ridge designated 8,289 as land held for investment, 1,433 acres as held for development, 2,116 acres as held for sale and 1 acre for discontinued operations. It is expected that all of the Company's planned developments will either be subdivided and sold as parcels of land, or be developed into single and multi- family housing. More information: www.brreco.com ((Comments on this story may be sent to email@example.com ))
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