NEW YORK, NY–(Marketwired – Feb 13, 2015) – Worldwide Diversified Holdings, Inc. (OTC PINK:WNTR) announced today that it is implementing a stock buyback program to repurchase up to one billion common shares.
The company will commence a Dutch Auction Tender Offer (the “Tender Offer”) to repurchase the shares on March 3, 2015 with the expiration of the offer, unless extended, will be 5pm EST on March 31, 2015.
Under the Tender Offer, shareholders will have the opportunity to tender some, or all of their shares, at a price within the range of $0.0001 to $0.01 per share. Based on the number of shares tendered and the prices specified by the tendering shareholders, the company will determine the lowest per share price within the range that will enable it to buy up to one billion common shares.
The Tender Offer will not be contingent upon a minimum number of shares being tendered and will be subject to a number of other terms and conditions specified in the offer to purchase.
The company, its board of directors or its advisors, will not be making any recommendation to shareholders as to whether to tender, or refrain from tendering their shares, into the Tender Offer.
The company’s directors and executive officers have advised the company that they do not intend to tender any of their shares they own, or control, in the tender offer.
Commenting on the announcement, Frank Kristan, President, stated, “This tender offer underscores our commitment to enhancing shareholder value. It also represents an opportunity for the company to deliver value to those stockholders who elect to tender their shares, while at the same time increasing the proportional ownership of non-tendering stockholders.”
This release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any shares of the Company’s common stock. The solicitation and offer to buy the Company’s common stock will only be made pursuant to the offer to purchase and related materials that the Company will provide to its shareholders. Shareholders should read those materials carefully because they will contain important information, including the various terms and conditions of the Tender Offer.
About Worldwide Diversified Holdings, Inc.
Worldwide Diversified Holdings, Inc. (OTC PINK: WNTR) (www.wdhinc.com). The company is a diversified holding company with business operations and investments.
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those expressed or implied in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the OTC Markets and undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Phone/Fax: (206) 984-3470