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California First National Bancorp Commences Modified Dutch Tender Offer for 1,300,000 Shares.

Publication: Investment Weekly News
Publication Date: 04-AUG-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
California First National Bancorp (NASDAQ: CFNB) ("CalFirst Bancorp" or the "Company") announced the commencement of a modified "Dutch Auction" tender offer, approved by its Board of Directors, to repurchase up to 1,300,000 shares of its common stock, which represent approximately 11.4% of its outstanding shares. CalFirst Bancorp shareholders will be given the opportunity to tender part or all of their shares to the Company at a price not greater than $13.00 and not less than $12.00 per share. On July 18, 2008, the last full trading day before we commenced the offer, the reported last sale price of the shares was $9.35 per share. The tender offer is expected to commence on July 21, 2008 and...

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