MCI Capital extends cash tender offer period for StarTek's common stock

KUALA LUMPUR, Dec 16 (Bernama) -- MCI Capital LC, a wholly-owned subsidiary of United States (US)-based tech-enabled business process outsourcing (BPO) and customer experience (CX) technology services provider MCI LC, is extending the offer period for its previously announced cash tender offer to purchase up to four million common shares of StarTek Inc at a purchase price of US$4.20 per share (US$1=RM4.41) until Jan 4, 2023.

StarTek is a US-based global provider of tech-enabled BPO solutions.

It said the tender offer was previously scheduled to expire at 12 midnight New York City time on Dec 20, 2022 (1 pm Dec 21, 2022 Malaysian Time) but is now extended to the tenth business day after its previously scheduled expiration.

“To date, no shares of StarTek common stock have been deposited in response to the tender offer,” it said in a statement.

It said as previously announced, if more than four million shares are tendered in the tender offer, then, subject to the terms and conditions of the tender offer, MCI would purchase shares from shareholders who properly tender shares on a pro-rata basis based on the aggregate number of shares tendered.

“The tender offer is conditioned upon, among other things, a minimum of two million shares being validly tendered and not withdrawn in accordance with its terms,” it said.

It added that tenders of the shares in the tender offer must be made prior to its expiration and might be withdrawn at any time prior to the expiration in accordance with the terms described in the offer documents.

-- BERNAMA