PGi Commences Modified “Dutch Auction” Tender Offer to Repurchase up to $50M Shares

Premiere Global Services, Inc. PGI, a global application software and services company that enables real-time, virtual meetings, today announced that it has commenced a modified “Dutch Auction” cash tender offer for the purchase of up to $50.0 million of shares of its common stock at a price of not less than $6.75 per share and not greater than $7.75 per share. The tender offer may result in the purchase of up to approximately 7.4 million shares of its common stock, representing approximately 12% of total shares outstanding. The company currently projects that the tender offer will be accretive to its diluted earnings per share.