CIBL Announces Preliminary Results of Its Tender Offer for Shares of ICTC Group

RENO, N.V., Dec. 20, 2012 /PRNewswire/ -- CIBL, Inc. ("CIBL") (PINK: CIBY) announced today the preliminary results of its tender offer (the "Offer"), commenced November 21, 2012, to purchase for cash up to 80,000 shares of Class A common stock, $0.0001 par value per share (the "Shares"), of ICTC Group, Inc. ("ICTC") (PINK: ICTG), at a purchase price of $22.25 per Share, net to the seller in cash, less any applicable withholding taxes and without interest.  The Offer expired at 12:00 Midnight, Eastern Time, on December 19, 2012.

Based on the preliminary count by Computershare Trust Company, N.A., the Depositary for the Offer, approximately 81,058 Shares were validly tendered and not properly withdrawn, including approximately 35,015 Shares that were tendered through notice of guaranteed delivery. In addition, CIBL has the right to accept for purchase up to an additional 2% of the outstanding Shares. Since the Offer was oversubscribed, unless CIBL exercises its right to purchase additional Shares, CIBL expects to purchase from each tendering stockholder a pro-rated number of shares, as provided in the Offer to Purchase, dated November 21, 2012.  As such, CIBL expects to accept for purchase 80,000 Shares at a purchase price of $22.25 per Share for a total cost of approximately $1.8 million, excluding fees and expenses related to the Offer.

The number of Shares validly tendered and not properly withdrawn is preliminary and is subject to verification by the Depositary and to the proper delivery of all Shares validly tendered and not properly withdrawn (including Shares tendered pursuant to guaranteed delivery procedures).  The actual number of Shares validly tendered and not properly withdrawn and the pro-ration factor will be announced promptly following completion of the verification process.  Promptly after such announcement, the Depositary will issue payment for the Shares validly tendered and accepted under the Offer.

Investor questions concerning the tender offer may be directed to the information agent, Morrow & Co., LLC, at (800) 461-0945 or [email protected].

*************************

This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation anticipated corporate transactions. It should be recognized that such information may be based upon certain assumptions, projections and forecasts regarding, among other things, business conditions and financial markets, and must be read in conjunction with the cautionary statements set forth in documents filed by CIBL on its website, www.ciblinc.com. As a result, there can be no assurance that any possible transactions will be accomplished, and such information is subject to uncertainties, risks and inaccuracies, which could be material.

CIBL is a holding company with subsidiaries in television broadcasting. CIBL is listed on the Pink Sheets© under the symbol CIBY. CIBL's telephone number is (775) 664-3700.

Contact:    Robert E. Dolan
                Interim Chief Executive Officer and 
                Interim Chief Financial Officer 
                (775) 664-3700

SOURCE CIBL, Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED