The Company intends to commence the Offer on
HNH intends to fund the Offer with cash on hand. Financing is not a condition to the Offer. If more than the maximum number of shares sought is tendered, the tendered shares will be purchased first, from all holders of "small lots" of less than 100 shares and second, from all other stockholders on a pro rata basis. Stockholders whose shares are purchased through the Offer will be paid the Purchase Price in cash, without interest, promptly after the expiration of the Offer. Shares not purchased due to proration will be returned to tendering stockholders.
HNH's directors, executive officers and affiliates have advised the Company that they do not intend to tender any of their shares of common stock in the Offer.
The Offer described in this press release has not yet commenced. At the time the Offer is commenced, the terms and conditions of the Offer will be set forth in an offer to purchase, a letter of transmittal and related documentation (the "Offering Documents"), which will be distributed to HNH stockholders and filed with the
Stockholders are urged to read the Offering Documents when they become available because they will contain important information that stockholders should consider before making any decision regarding tendering their shares. The Offering Documents will be available for free at the
In addition to the Offering Documents, HNH files annual, quarterly and special reports, proxy statements and other information with the
Over the last two years, through its repurchase programs, HNH has repurchased approximately 700,514 shares of common stock at an average cost of
THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR PURCHASE, OR THE SOLICITATION OF TENDERS OR CONSENTS WITH RESPECT TO, THE SHARES OF HNH. NO OFFER, SOLICITATION, PURCHASE OR SALE WILL BE MADE IN ANY JURISDICTION IN WHICH SUCH AN OFFER, SOLICITATION, PURCHASE OR SALE WOULD BE UNLAWFUL. THE OFFER WILL BE MADE SOLELY PURSUANT TO THE OFFERING DOCUMENTS. NONE OF HNH, ITS BOARD OF DIRECTORS, OFFICERS
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