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SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE TO TENDER OFFER STATEMENT UNDER SECTION 14(d)(1) OR 13(e)(1) OF THE SECURITIES EXCHANGE ACT OF 1934 PREMIERE GLOBAL SERVICES, INC. (Name of Subject Company (Issuer)) PREMIERE GLOBAL SERVICES, INC.
Common Stock, $0.01 par value
(Title of Class of Securities)
740585104
(CUSIP Number of Class of Securities)
L. Scott Askins, Esq.
Senior Vice President Legal and General Counsel
3399 Peachtree Road, N.E.,
The Lenox Building, Suite 700,
Atlanta, Georgia 30326
(404) 262-8400
(Name, address and telephone number of person authorized to receive notices
and communications on behalf of filing persons)
Copy to:
David E. Brown, Jr., Esq.
Dennis O. Garris, Esq.
Alston & Bird LLP
The Atlantic Building
950 F Street N.W.
Washington, D.C. 20004
(202) 756-3300
CALCULATION OF FILING FEE
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Transaction Valuation* |
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Amount of Filing Fee** | |
$150,000,000 |
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$ |
4,605 |
* |
Calculated solely for the purpose of determining the amount of the filing fee. This amount is based upon the purchase of 11,857,707 outstanding shares of Common Stock at the price of $12.65 per share. |
** | The amount of filing fee, calculated in accordance with Rule 0-11 of the Securities Exchange Act of 1934, as amended, is calculated by multiplying the transaction valuation by 0.0000307. |
o | Check the box if any part of the fee is offset as provided by Rule 0-11(a)(2) and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. |
Amount Previously Paid: N/A
Form of Registration No.: N/A
Filing Party: N/A
Date Filed: N/A
o |
Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer. |
Check the appropriate boxes below to designate any transactions to which the statement relates: | |
o | third-party tender offer subject to Rule 14d-1 |
x | issuer tender offer subject to Rule 13e-4 |
o | going-private transaction subject to Rule 13e-3 |
o | amendment to Schedule 13D under Rule 13d-2 |
Check the following box if the filing is a final amendment reporting the results of the tender offer: o |
SCHEDULE TO
This Tender Offer Statement on Schedule TO relates to the offer by Premiere Global Services, Inc. a Georgia corporation (Premiere Global or the Company), to purchase up to 11,857,707 shares of its common stock, $0.01 par value per share (the Common Stock), or such lesser number of shares as is properly tendered and not properly withdrawn, at a price of $12.65 per share, without interest. Premiere Globals offer is being made upon the terms and subject to the conditions set forth in the Offer to Purchase dated April 23, 2007 (the Offer to Purchase), and in the related Letter of Transmittal, copies of which are attached to this Schedule TO as Exhibits (a)(1)(i) and (a)(1)(ii), respectively (which together, as amended or supplemented from time to time, constitute the Offer). The information contained in the Offer is incorporated herein by reference in response to all of the items of this Schedule TO as more particularly described below. This Schedule TO is intended to satisfy the reporting requirements of Rule 13e-4(c)(2) of the Securities Exchange Act of 1934, as amended. All information set forth in the Offer to Purchase, including all schedules and annexes thereto, is incorporated by reference in answer to Items 1 through 11 in this Schedule TO, except those items as to which information is specifically provided herein.
Item 1. Summary Term Sheet.
The information set forth in the section of the Offer to Purchase captioned Summary Term Sheet is incorporated herein by reference.
Item 2. Subject Company Information.
Name and Address: The name of the subject company is Premiere Global Services, Inc. The principal executive office of Premiere Global is located at 3399 Peachtree Road, N.E., The Lenox Building, Suite 700, Atlanta, Georgia 30326 and its telephone number is (404) 262-8400. The information set forth in Section 10 (Certain Information Concerning Us) of the Offer to Purchase is incorporated herein by reference.
Securities: The information set forth in the section of the Offer to Purchase captioned Introduction is incorporated herein by reference.
Trading Market and Price: The information set forth in the section of the Offer to Purchase captioned Introduction is incorporated herein by reference. Section 8 (Price Range of Shares; Dividends) of the Offer to Purchase is incorporated herein by reference.
Item 3. Identity and Background of Filing Person.
Name and Address: The Company is the filing person. The Companys address and telephone number are set forth in Item 2(a) above. The information set forth in Section 11 (Interest of Directors and Executive Officers; Transactions and Arrangements Concerning the Shares) of the Offer to Purchase is incorporated herein by reference.
Item 4. Terms of the Transaction.
Material Terms: The information set forth in the sections of the Offer to Purchase captioned Introduction and Summary Term Sheet is incorporated herein by reference. The information set forth in Section 1 (Number of Shares; Proration), Section 2 (Purpose of the Tender Offer; Certain Effects of the Tender Offer), Section 3 (Procedures for Tendering Shares), Section 4 (Withdrawal Rights), Section 5 (Purchase of Shares and Payment of Purchase Price), Section (Conditional Tender of Shares), Section 7 (Conditions of the Offer), Section 9 (Source and Amount of Funds), Section 11 (Interests of Directors and Executive Officers; Transactions and Arrangements Concerning the Shares), Section 13 (Certain Legal Matters; Regulatory Approvals ), Section 14 (Certain United States Federal Income Tax Consequences), Section 15 (Extension of the Tender Offer; Termination; Amendment), Section 16 (Fees and Expenses) and Section 17 (Miscellaneous) of the Offer to Purchase is incorporated herein by reference.
Purchases: The information set forth in the sections of the Offer to Purchase captioned Introduction and Summary Term Sheet is incorporated herein by reference. The information set forth in Section 11 (Interests of Directors and Executive Officers; Transactions and Arrangements Concerning the Shares) of the Offer to Purchase is incorporated herein by reference.
Item 5. Past Contacts, Transactions, Negotiations and Agreements.
Agreements Involving the Subject Companys Securities: The information set forth in Section 11 (Interests of Directors and Executive Officers; Transactions and Arrangements Concerning the Shares) of the Offer to Purchase is incorporated herein by reference.
Item 6. Purposes of the Transaction and Plans or Proposals.
Purposes: The information set forth in the section of the Offer to Purchase captioned Summary Term Sheet is incorporated herein by reference. The information set forth in Section 2 (Purpose of the Offer; Certain Effects of the Tender Offer) of the Offer to Purchase is incorporated herein by reference. Use of the Securities Acquired: The information set forth in Section 2 (Purpose of the Offer; Certain Effects of the Tender Offer) of the Offer to Purchase is incorporated herein by reference. Plans: The information set forth in Section 2 (Purpose of the Offer; Certain Effects of the Tender Offer) of the Offer to Purchase is incorporated herein by reference.
Item 7. Source and Amount of Funds or Other Consideration.
Source of Funds: The information set forth in Section 9 (Source and Amount of Funds) of the Offer to Purchase is incorporated herein by reference. Conditions to Financing: None. Borrowed Funds: The information set forth in Section 9 (Source and Amount of Funds) of the Offer to Purchase is incorporated herein by reference.
Item 8. Interest in Securities of the Subject Company.
Securities Ownership: The information set forth in Section 11 (Interests of Directors and Executive Officers, Transactions and Arrangements Concerning the Common Stock) of the Offer to Purchase is incorporated herein by reference. Securities Transactions: The information set forth in Section 11 (Interests of Directors and Executive Officers, Transactions and Arrangements Concerning the Common Stock) of the Offer to Purchase is incorporated herein by reference.
Item 9. Persons/Assets, Retained, Employed, Compensated or Used.
Solicitations or Recommendations: The information set forth in Section 16 (Fees and Expenses) of the Offer to Purchase is incorporated herein by reference.
Item 10. Financial Statements.
Not applicable.
Item 11. Additional Information.
Agreements, Regulatory Requirements and Legal Proceedings: The information set forth in Section 2 (Purpose of the Tender Offer; Certain Effects of the Tender Offer), Section 10 (Certain Information Concerning Us), Section 11 (Interests of Directors and Executive Officers; Transactions and Arrangements Concerning the Common Stock) and Section 12 (Certain Legal Matters; Regulatory Approvals) of the Offer to Purchase is incorporated herein by reference. Other Material Information: The information in the Offer to Purchase and the related Letter of Transmittal, copies of which are filed with this Schedule TO as Exhibits (a)(1)(i) and (a)(1)(ii), respectively, is incorporated herein by reference.
Item 12. Exhibits.
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Exhibit |
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Description |
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(a)(1)(i) |
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Offer to Purchase dated April 23, 2007 |
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(a)(1)(ii) |
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Letter of Transmittal (including Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9) |
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(a)(1)(iii) |
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Notice of Guaranteed Delivery |
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(a)(1)(iv) |
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Letter to Shareholders, dated April 23, 2007 from Boland T. Jones, Chairman and Chief Executive Officer of Premiere Global Services |
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(a)(1)(v) |
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Letter to Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees dated April 23, 2007 |
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(a)(1)(vi) |
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Letter to Clients for use by Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees dated April 23, 2007 |
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(a)(1)(vii) |
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Letter to Participants in the Premiere Global Services, Inc. 401(k) Plan |
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(a)(5)(i) |
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Press Release dated April 19, 2007, announcing the Tender Offer (incorporated by reference from
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(b)(1)(A) | Credit Agreement, dated June 30, 2004, among Premiere Global, as Borrower, Certain | |
Subsidiaries and Affiliates of the Borrower, as Guarantors, the Lenders Party thereto, Bank of | ||
America, N.A., as Administrative Agent and Collateral Agent, and LaSalle Bank National | ||
Association, as Syndication Agent and Co-Lead Arranger (incorporated by reference to | ||
Exhibit 10.1 to Premiere Globals Quarterly Report on Form 10-Q for the quarter ended June | ||
30, 2004 and filed on August 9, 2004). | ||
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(b)(1)(B) | Amendment No. 1 to Credit Agreement, dated February 2, 2005, by and among Premiere | |
Global, as Borrower, Bank of America, N.A., as Administrative Agent, and the Guarantors | ||
and the Lenders that are parties thereto (incorporated by reference Exhibit 10.1 to Premiere | ||
Globals Current Report on Form 8-K dated February 5, 2004 and filed on February 3, 2004). | ||
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(b)(1)(C) | Amendment No. 2 and Waiver to Credit Agreement, dated August 3, 2005, by and among | |
Premiere Global, as Borrower, Bank of America, N.A., as Administrative Agent, and the | ||
Guarantors and the Lenders that are parties thereto (incorporated by reference to Exhibit | ||
10.65 of Premiere Globals Annual Report on Form 10-K for the year ended December 31, | ||
2005 and filed on March 16, 2006). | ||
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(b)(1)(D) | Amendment No. 3 to Credit Agreement, dated April 24, 2006, by and among Premiere Global | |
as Borrower, Bank of America, N.A. as Administrative Agent, and the Guarantors and the | ||
Lenders that are parties thereto (incorporated by reference to Exhibit 10.1 to Premiere | ||
Globals Current Report on Form 8-K dated and filed April 25, 2006). | ||
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(b)(1)(E) | Amendment No. 4 and Waiver to Credit Agreement, dated October 3, 2006, by and among | |
Premiere Global as Borrower, Bank of America, N.A. as Administrative Agent, and the | ||
Guarantors and the Lenders that are parties thereto (incorporated by reference to Exhibit 10.8 | ||
to Premiere Globals Quarterly Report on Form 10-Q for quarter ended September 30, 2006 | ||
and filed on November 9, 2006). | ||
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(b)(1)(F) | Amendment No. 5 and Waiver to Credit Agreement, dated April 19, 2007, by and among | |
Premiere Global as Borrower, Bank of America, N.A. as Administrative Agent, and the | ||
Guarantors and the Lenders that are parties thereto (incorporated by reference to Exhibit 10.2 | ||
to Premiere Globals Current Report on Form 8-K dated and filed on April 19, 2007). | ||
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(b)(2) | Security Agreement, dated June 30, 2004, among Premiere Global, American | |
Teleconferencing Services, Ltd., Premiere Conferencing Network Services, Inc., PTEK | ||
Services, Inc., Xpedite Network Services, Inc., Xpedite Systems, Inc., Xpedite Systems | ||
Worldwide, Inc. and Bank of America, N.A., as Collateral Agent (incorporated by reference | ||
to Exhibit 10.2 to Premiere Globals Quarterly Report on Form 10-Q for the quarter ended | ||
June 30, 2004 and filed on August 9, 2004). | ||
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(b)(3) | Pledge Agreement, dated June 30, 2004, among Premiere Global, American Teleconferencing | |
Services, Ltd., Premiere Conferencing Networks, Inc., PTEK Services, Inc., Xpedite Network | ||
Services, Inc., Xpedite Systems, Inc., Xpedite Systems Worldwide, Inc. and Bank of America, | ||
N.A., as Collateral Agent (incorporated by reference to Exhibit 10.3 to Premiere Globals | ||
Quarterly Report on Form 10-Q for the quarter ended June 30, 2004 and filed on August 9, | ||
2004). | ||
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(d)(1)(A) | Amended and Restated 1998 Stock Plan of Premiere Global Services, Inc. (incorporated by | |
reference to Exhibit 10.1 to Premiere Globals Quarterly Report on Form 10-Q for the quarter | ||
ended June 30, 1999). | ||
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(d)(1)(B) | Amendment No. 1 to the Amended and Restated 1998 Stock Plan of Premiere Global | |
Services, Inc. (incorporated by reference to Exhibit 10.45 to Premiere Globals Annual Report | ||
on Form 10-K for the year ended December 31, 1999). |
Item 13. Information Required by Schedule 13E-3 Not applicable.
SIGNATURE After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. PREMIERE GLOBAL SERVICES, INC. By: /s/ L. Scott Askins Name: L. Scott Askins Title: Senior Vice President Legal and General Counsel Dated: April 23, 2007 EXHIBIT INDEX Exhibit Description (a)(1)(i) Offer to Purchase dated April 23, 2007 (a)(1)(ii) Letter of Transmittal (including Guidelines for Certification of Taxpayer Identification Number on Substitute Form W-9) (a)(1)(iii) Notice of Guaranteed Delivery (a)(1)(iv) Letter to Shareholders, dated April 23, 2007, from Boland T. Jones, Chairman and Chief Executive Officer of Premiere Global Services (a)(1)(v) Letter to Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees dated April 23, 2007 (a)(1)(vi) Letter to Clients for use by Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees dated April 23, 2007 (a)(1)(vii) Letter to Participants in the Premiere Global Services, Inc. 401(k) Plan (a)(5)(i) Press Release dated April 23, 2007, announcing the Tender Offer (incorporated by reference from Form 8-K dated April 19, 2007)
THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MONDAY, MAY 21, 2007, UNLESS THE OFFER IS EXTENDED.
Premiere Global Services, Inc., a Georgia corporation (Premiere Global, the Company, or we ), hereby invites its shareholders to tender up to 11,857,707 shares of its Common Stock, par
value $0.01 per share (the Common Stock), for purchase by the Company at a price of $12.65 per share, net to the seller in cash, less any applicable withholding taxes and without interest, upon the terms and subject to the
conditions described in this Offer to Purchase and in the related Letter of Transmittal (which together, as they may be amended or supplemented from time to time, constitute the Offer). Upon the terms and subject to the conditions of the
Offer to Purchase, including the provisions thereof relating to odd lot priority, proration and conditional tender provisions described in this Offer to Purchase, the Company will purchase all shares validly tendered and not withdrawn.
Shares tendered but not purchased in the Offer will be returned to the tendering shareholders at our expense promptly after the expiration of the Offer. See Section 1.
We reserve the right, in our sole discretion, to purchase more than 11,857,707 shares in the Offer, and to increase the maximum aggregate purchase price, subject to applicable law. In accordance with the rules of the
Securities and Exchange Commission (the SEC), we may purchase an additional amount of shares not to exceed 2% of the outstanding shares (approximately 1,407,250 shares as of April 19, 2007) without amending or extending the Offer.
See Section 1.
The shares are listed and traded on the New York Stock Exchange under the trading symbol PGI. On April 19, 2007, the last full trading day prior to the announcement of the Offer, the last reported sale price of
our shares of Common Stock was $11.25 per share. Shareholders are urged to obtain current market quotations for the shares of Common Stock before deciding whether to tender their shares of Common Stock.
See Section 8.
The Offer is not conditioned on any minimum number of shares being tendered. the Offer is, however, subject to other conditions. See Section 7.
All of our directors and executive officers have advised us that they do not intend to tender shares pursuant to the Offer. See Section 11.
OUR BOARD OF DIRECTORS HAS APPROVED THE OFFER. HOWEVER, NONE OF THE COMPANY, OUR BOARD OF DIRECTORS, THE DEALER MANAGERS, THE INFORMATION AGENT OR THE DEPOSITARY ARE MAKING ANY RECOMMENDATION TO YOU AS TO WHETHER TO
TENDER OR REFRAIN FROM TENDERING YOUR SHARES. YOU MUST MAKE YOUR OWN DECISION AS TO WHETHER TO TENDER YOUR SHARES AND, IF SO, HOW MANY SHARES TO TENDER. IN DOING SO, YOU SHOULD READ CAREFULLY THE INFORMATION IN, OR INCORPORATED BY REFERENCE IN, THIS
OFFER TO PURCHASE AND IN THE RELATED LETTER OF TRANSMITTAL, INCLUDING THE PURPOSES AND EFFECTS OF THE OFFER. SEE SECTION 2. YOU SHOULD ALSO DISCUSS WHETHER
TO TENDER YOUR SHARES, AND IF SO, HOW MANY SHARES TO TENDER WITH YOUR TAX ADVISOR, FINANCIAL ADVISOR AND/OR BROKER.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THIS TRANSACTION OR PASSED UPON THE MERITS OR FAIRNESS OF SUCH TRANSACTION OR PASSED UPON THE ADEQUACY OR
ACCURACY OF THE INFORMATION CONTAINED IN THIS DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Questions and requests for assistance may be directed to Innisfree M&A Incorporated, our Information Agent for this Offer or to the Dealer Managers at their respective addresses and telephone numbers set forth on the
back cover of this Offer to Purchase. Requests for additional copies of this Offer to Purchase, the Letter of Transmittal or the Notice of Guaranteed Delivery should be directed to the Information Agent.
If you want to tender all or part of your shares, you must do one of the following before the Offer expires at 5:00 p.m., New York City time, on Monday, May 21, 2007 (unless the Offer is extended):
If you want to tender your shares but (1) the certificates for your shares are not immediately available or cannot be delivered to the Depositary by the expiration of the Offer, (2) you cannot
comply with the procedure for book-entry transfer by the expiration of the Offer, or (3) your other required documents cannot be delivered to the Depositary by the expiration of the Offer, you can still tender your shares if you comply with the
guaranteed delivery procedures described in Section 3.
WE HAVE NOT AUTHORIZED ANY PERSON TO GIVE ANY INFORMATION OR TO MAKE ANY REPRESENTATION IN CONNECTION WITH THE OFFER OTHER THAN THOSE CONTAINED IN THIS OFFER TO PURCHASE OR IN THE RELATED
LETTER OF TRANSMITTAL. YOU SHOULD NOT RELY ON ANY RECOMMENDATION, OR ANY SUCH REPRESENTATION OR INFORMATION, AS HAVING BEEN AUTHORIZED BY THE COMPANY, ANY MEMBER OF OUR BOARD OF DIRECTORS, THE DEALER MANAGERS, THE INFORMATION AGENT OR THE
DEPOSITARY.
We are not making the tender offer to (nor will we accept any tender of shares from or on behalf of) holders in any jurisdiction in which the making of the tender offer or the acceptance of
any tender of shares would not be in compliance with the laws of such jurisdiction. However, we may, at our discretion, take such action as we may deem necessary for us to make the tender offer in any such jurisdiction and extend the tender offer to
holders in such jurisdiction.
Questions and requests for assistance or for additional copies of this Offer to Purchase, the Letter of Transmittal or the Notice of Guaranteed Delivery may be directed to the Information
Agent, Innisfree M&A Incorporated, at its address and telephone number set forth on the back cover of this Offer to Purchase.
ii
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This Summary Term Sheet highlights certain material information in this Offer to Purchase, but you should realize that it does not describe all of the details of the Offer to the same extent
described elsewhere in this Offer to Purchase. We urge you to read the entire Offer to Purchase and the related Letter of Transmittal because they contain the full details of the Offer. We have included references to the sections of this Offer to
Purchase where you will find a more complete discussion. The Company is at times referred to as Premiere Global, we, our or us. We refer to the shares of our common stock, par value $0.01 per
share, as the Common Stock. Who is offering to purchase my securities? Premiere Global is offering to purchase your shares of Common Stock. See Section 1. What will be the purchase price for the Common Stock and what will be the form of payment? We will pay $12.65 in cash, less any applicable withholding taxes and without interest, for each share of Common Stock we purchase pursuant to the Offer. If your shares are purchased in the Offer, you will be paid the purchase price, in cash, less any applicable withholding taxes and without interest, promptly after the expiration of the Offer. Under no circumstances will
we pay interest on the purchase price, even if there is any delay in making payment. See Section 1 and Section 5. How many shares will the Company purchase in the Offer? We will purchase up to 11,857,707 shares in the Offer (representing approximately 17% of our outstanding Common Stock) or, if fewer shares are tendered, such lesser number of shares as are
properly tendered and not properly withdrawn. If more than 11,857,707 shares are tendered, we will purchase shares on a pro rata basis, except for odd lots (lots held by beneficial or record owners of less than 100 shares), which we will
purchase on a priority basis. We expressly reserve the right to purchase additional shares in the Offer, subject to applicable law. See Section 1. The Offer is not conditioned
on any minimum number of shares being tendered but is subject to other conditions. See Section 7. In accordance with the rules of the SEC, we may purchase an additional amount
of shares not to exceed 2% of the outstanding shares (approximately 1,407,250 shares as of April 19, 2007) without amending or extending the Offer. If we purchase additional shares in the Offer that represent more than 2% of the outstanding shares
of Common Stock, we must amend the Offer and notify you of our plans to purchase the additional shares and extend the Offer so that at least 10 business days remain in the Offer following the amendment and notify you of our plans to purchase the
additional shares. What is the purpose of the Offer? The Companys Board of Directors, with the assistance of independent financial advisors, reviewed its strategic plan, its projected use of cash flows for, among other things, capital
expenditures, acquisitions, debt repayment and share repurchases, and a variety of alternatives for using the Companys available financial resources and determined that the tender offer is a prudent use of capital that delivers
1 immediate value to its shareholders and enables the Company to continue to support growth of its businesses and the execution of its strategic plan. The Offer price represents a premium of
approximately 10% above the average closing stock price over the last ten trading days prior to the announcement of the Offer. The Board of Directors considered the Companys existing and anticipated capital structure and financial position, including outstanding Common Stock, debt and debt structure, financial ratios and anticipated cost
and availability of financing, as well as credit ratings, the market price of the Common Stock and the Companys operations, strategy and expectations for the future. The Board believes that incurring debt to fund the Offer is a prudent use of
the Companys financial resources and an effective means of providing value to the Companys shareholders. The Company currently projects the Offer will be accretive to its diluted earnings per share. See Section 2. The Board of Directors believes that the Offer represents a mechanism to provide all of the Companys shareholders with the opportunity to tender all or a portion of their shares and, thereby, receive a return of
some or all of their investment if they so elect. The Offer provides shareholders (particularly those who, because of the size of their shareholdings, might not be able to sell their shares without potential disruption to the share price) with an
opportunity to obtain liquidity with respect to all or a portion of their shares without potential disruption to the share price. In addition, if we complete the Offer, shareholders who do not participate in the Offer will automatically increase
their relative percentage ownership interest in the Company and its future operations. The Offer also provides shareholders with an efficient way to sell their shares without incurring brokers fees or commissions associated with open market sales. Furthermore, odd lot holders who hold shares
registered in their names and tender their shares directly to the Depositary and whose shares are purchased in the Offer will avoid any applicable odd lot discounts that might otherwise be payable on sales of their shares. See Section 1 and Section 2. How will the Company pay for the shares? Assuming we purchase 11,857,707 shares in the Offer, approximately $150 million will be required to purchase such shares. We will obtain all of the funds necessary to purchase shares tendered
in the Offer, and to pay related fees and expenses, from our existing line of credit, which has been amended to accommodate the Offer. See Section 9.
2 How long do I have to tender my shares? You may tender your shares until the Offer expires. The Offer will expire on Monday May 21, 2007, at 5:00 p.m., New York City time, which we refer to as the Expiration Date, unless we
extend the Offer. See Section 1. We may choose to extend the Offer at any time and for any reason. We cannot assure you, however, that we will extend the Offer or, if we extend
it, for how long. See Section 1 and Section 15. If a broker, dealer, commercial bank, trust company or other nominee holds your shares, it may have an earlier deadline for
accepting the Offer. We urge you to contact the broker, dealer, commercial bank, trust company or other nominee that holds your shares to find out its deadline. Participants in our 401(k) Plan
must follow the separate direction form sent to them to direct the tender
of their shares held in the 401(k) Plan. Although the Offer will remain open
to all shareholders until the Expiration Date, if Ellen Philip Associates,
Inc., the Independent Tabulation Agent for the 401(k) Plan, does not receive
a participants instructions by 4:00 p.m., New York City time, on Wednesday,
May 16, 2007, the trustee will not tender shares attributable to the participants
account. Participants are urged to read the Letter to Participants
in the Premiere Global Services, Inc. 401(k) Plan and the separate
direction form carefully. Can the Offer be extended, amended or terminated, and if so, under what circumstances? Yes. We can extend
or amend the Offer in our sole discretion. If we extend the Offer, we will
delay the acceptance of any shares that have been tendered and withdrawal
rights will continue during any extension. See
Section 14 and Section 15. In addition,
we can terminate the Offer under certain circumstances. See
Section 7 for a detailed list of conditions to our Offer. How will I be notified if you extend the Offer or amend the terms of the Offer? If we extend the Offer, we will issue a press release not later than 9:00 a.m., New York City time, on the first business day after the previously scheduled Expiration Date of the Offer. We will
announce any amendment to the Offer by making a public announcement of the amendment. See Section 15. What is the recent market price for the shares? We publicly announced the tender offer after the close of business on April 19, 2007. On April 19, 2007, the reported closing price per share of our Common Stock on the New York Stock Exchange
was $11.25. On April 20, 2007, the last trading day prior to the commencement of this Offer, the reported closing price per share of our Common Stock on the New York Stock Exchange was $11.99. We urge you
to obtain current market quotations for the Common Stock. See Section 8. Are there any conditions to the Offer? Yes. The Offer is subject to conditions, such as the absence of court and governmental action prohibiting the tender offer and of changes in general market conditions or our business that, in our
judgment, are or may be materially adverse to us. See Section 7.
3 Following the Offer, will Premiere Global continue as a public company? Yes. The completion of the Offer in accordance with its terms and conditions will not cause Premiere Global to be delisted from the New York Stock Exchange or to stop being subject to the
periodic reporting requirements of the Securities Exchange Act of 1934, as amended (the Exchange Act). See Section 12. How do I tender my shares? If you want to tender all or part of your shares, you must do one of the following before 5:00 p.m., New York City time, on Monday, May 21, 2007 or any later time and date to which the Offer may
be extended: If you want to tender your shares, but
4 you can still tender your shares if you comply with the guaranteed delivery procedure described in Section 3. Please note that Premiere Global will not purchase your shares in the Offer unless
the Depositary receives the required documents prior to the expiration of the tender offer. If a broker, dealer, commercial bank, trust company or other nominee holds your shares, it is likely they have an earlier deadline for you to act to instruct
them to accept the tender Offer on your behalf. We urge you to contact your broker, dealer, commercial bank, trust company or other nominee to find out their applicable deadline. You may contact the Information Agent, the Dealer Managers or your broker, bank or other nominee for assistance. The contact information for the Information Agent and the Dealer Managers is set forth on the back cover of
this Offer to Purchase. See Section 3 and the Instructions to the Letter of Transmittal. How do holders of vested stock options for Common Stock participate in the Offer? Options to purchase Common Stock cannot be tendered in the Offer. If you hold vested but unexercised options, you may exercise those options for cash in accordance with the terms of the
applicable stock option plans and tender the shares received upon such exercise in accordance with the Offer. If you executed a broker-assisted sell-to-cover exercise of an option, you will only be able to tender the net shares that you
hold after settlement of the exercise and any applicable withholding taxes. You must exercise your options sufficiently in advance of the Expiration Date to receive your shares in order to tender timely. An exercise of an option cannot be revoked
even if shares received upon the exercise of the option and tendered in the Offer are not purchased in the Offer for any reason. You should evaluate this Offer to Purchase carefully to determine if participation would be advantageous to you based on
your stock option exercise prices, the date of your stock option grants and the years left to exercise your options, the range of tender prices and the provisions for pro rata purchases by Premiere Global described in Section 1. We strongly
encourage you to discuss the Offer with your tax advisor, financial advisor and/or broker. See Section 3. Once I have tendered shares in the Offer, may I withdraw my tendered shares? Yes. You may withdraw any shares you have tendered at any time before the expiration of the Offer. The Offer will expire at 5:00 p.m., New York City time, on Monday, May 21, 2007 unless we extend
the Offer, in which case you can withdraw your shares until the expiration of the Offer as extended. If we have not accepted for payment the shares you have tendered to us, you may also withdraw your shares at any time after forty (40) business days
from the date hereof. See Section 4.
5 We will purchase shares:
6 not apply to participants in the 401(k) Plan, regardless of the number of shares allocable to units held within their individual accounts. Likewise, the conditional tender of shares, as described
in this Offer to Purchase, will not apply to participants in the 401(k) Plan. Do Premiere Globals directors or executive officers intend to tender their shares in the Offer? All of our directors and executive officers have advised us that they do not intend to tender shares pursuant to the Offer. As a result, the Offer will increase the proportional holdings of our
directors and executive officers. However, after expiration of the Offer, our directors and executive officers may, subject to applicable law and applicable policies of the Company, sell their shares in open market transactions at prices that may be
more or less favorable than the purchase price to be paid to our shareholders in the Offer. See Section 11. What does our Board of Directors think of the Offer? The Companys Board of Directors has approved the Offer. However, neither the Company nor the Companys Board of Directors is making any recommendation to you as to whether you should
tender or refrain from tendering your shares or as to the purchase price or purchase prices at which you may choose to tender your shares. You must make your own decision as to whether to tender your shares and, if so, how many shares to tender and
the purchase price or purchase prices at which you will tender them. In doing so, you should read carefully the information in this Offer to Purchase and in the related Letter of Transmittal, including our reasons for making the Offer.
See Section 2. You should discuss whether to tender your shares with your broker or other financial or tax advisors. If I decide not to tender, how will the Offer affect my shares? Shareholders who decide not to tender will own a greater percentage interest in the Companys outstanding shares following the successful consummation of the Offer. See Section 2. When and how will you pay me for the shares I tender? We will pay the purchase price net to the seller, in cash, less applicable withholding taxes and without interest, for the shares we purchase promptly after the Expiration Date. We will pay for
the shares accepted for purchase by depositing the aggregate purchase price with the Depositary, promptly after the Expiration Date. The Depositary will act as your agent and will transmit to you the payment for all of your shares accepted for
payment. See Section 1 and Section 5. If I am a participant in the 401(k) Plan, how do I participate in the Offer? Participants in the 401(k) Plan may not use the Letter of Transmittal to direct the tender of the shares allocable to the units in the participants individual 401(k) Plan account, but
instead must follow the separate instructions related to those shares in the Letter to Participants in the Premiere Global Services, Inc. 401(k) Plan sent to such participants along with this Offer to Purchase. If you are a participant
in the 401(k) Plan and wish to have the trustee of the plan tender some or all of the shares allocable to the units in your 401(k)
7 8 Who do I contact if I have questions about the Offer? For additional information or assistance, you may contact Innisfree M&A Incorporated, our Information Agent, or our Dealer Managers, in each case at the telephone numbers and addresses set
forth on the back cover of this Offer to Purchase. You may request additional copies of the Offer to Purchase, the Letter of Transmittal and other Offer documents from the Information Agent at the telephone number and address on the back cover of
this Offer to Purchase. Participants in our 401(k) Plan who have questions relating to the plans should contact the relevant party set forth in the Letter to Participants in the Premiere Global Services, Inc. 401(k) Plan sent separately
to each participant of such plans.
THIS OFFER TO PURCHASE AND THE RELATED LETTER OF TRANSMITTAL CONTAIN IMPORTANT INFORMATION AND SHOULD BE READ CAREFULLY AND IN THEIR ENTIRETY BEFORE ANY DECISION IS MADE WITH RESPECT TO THE OFFER.
9
This Offer contains certain forward-looking statements and information relating to us that are based on the beliefs of our management as well as assumptions made by, and information currently
available to, us. These statements include, but are not limited to, statements about our strategies, market opportunities, competition and expected activities and expenditures plans, objectives, expectations, intentions, and assumptions and other
statements contained in this Offer that are not historical facts. When used in this document, words such as may, will, could, should, would, project, anticipate,
believe, estimate, expect, intend, plan and project and similar expressions, as they relate to us are intended to identify forward-looking statements. These statements reflect
our current views with respect to future events, are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Further, certain forward-looking statements are based upon assumptions as to future events
that may not prove to be accurate and inherently involve risks and uncertainties. In addition, the following factors could cause our actual results to differ materially from those results, performance or achievements that may be expressed or implied
by such forward-looking statements. These factors include, among other things:
10
We caution that these factors are not exclusive. Consequently, all of the forward-looking statements made in this Schedule TO and in other documents filed with the SEC are qualified by these cautionary statements. Readers
are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this Schedule TO. We take on no obligation to publicly release the results of any revisions to these forward-looking statements that
may be made to reflect events or circumstances after the date of this Schedule TO, or the date of the statement, if a different date. Please refer to the section entitled Risk Factors in the Companys Annual Report on Form 10-K for
the fiscal year ended December 31, 2006 for information on these and other factors.
11
To the Holders of Common Stock: The Company invites its shareholders to tender up to 11,858,707 shares of Common Stock for purchase by us at a price of $12.65 per share, net to the seller in cash, less any applicable
withholding taxes and without interest, upon the terms and subject to the conditions described in this Offer to Purchase and in the related Letter of Transmittal, which together, as they may be amended or supplemented from time to time, constitute
the Offer.
All shares acquired in the Offer will be acquired at the same purchase price. However, because of the odd lot priority, proration (because more than the number of shares we seek may
be properly tendered) and conditional tender provisions described in this Offer to Purchase, we may not purchase all of the shares tendered. Shares not purchased in the Offer will be returned to the tendering shareholders at our expense promptly
after the expiration of the Offer. See Section 1. We also expressly reserve the right, in our sole discretion, to purchase additional shares subject to applicable legal
requirements. See Section 1.
If you are a holder of vested options, you may exercise your vested options and tender any of the shares issued upon exercise. Options cannot be tendered in the Offer. You must exercise your
options sufficiently in advance of the Expiration Date to receive your shares in order to tender timely.
If you are a participant in the 401(k) Plan and you wish to tender any shares allocable to the units in your 401(k) Plan account, follow the instructions described in Section 3 and the separate
materials related to the 401(k) Plan enclosed with this Offer to Purchase.
Tendering shareholders whose shares are registered in their own names and who tender directly to American Stock Transfer & Trust Company, the Depositary for the Offer, will not be obligated
to pay brokerage fees or commissions or, except as set forth in Section 5 hereof, stock transfer taxes on the purchase of shares by us in the Offer. If you own your shares through a bank, broker, dealer, trust company or other nominee and that
person tenders shares on your behalf, that person may charge you a fee for doing so. You should consult your bank, broker, dealer, trust company or other nominee to determine whether any charges will apply.
The Offer is not conditioned on any minimum number of shares being tendered. The Offer is, however, subject to other conditions. See Section
7.
THE COMPANYS BOARD OF DIRECTORS HAS APPROVED THE OFFER. HOWEVER, NONE OF THE COMPANY, ANY MEMBER OF THE COMPANYS BOARD OF DIRECTORS, THE DEALER MANAGERS, THE INFORMATION AGENT OR
THE DEPOSITARY, MAKES ANY RECOMMENDATION TO YOU AS TO WHETHER YOU SHOULD TENDER OR REFRAIN FROM TENDERING YOUR SHARES. YOU MUST MAKE YOUR OWN DECISION AS TO WHETHER TO TENDER YOUR SHARES AND, IF SO, HOW MANY SHARES TO TENDER. IN DOING SO, YOU SHOULD
READ CAREFULLY THE INFORMATION IN THIS OFFER TO PURCHASE AND IN THE RELATED LETTER OF TRANSMITTAL, INCLUDING OUR REASONS FOR MAKING THE OFFER.
SEE SECTION 2.
You should discuss whether to tender your shares and, if so, how many shares to tender at which you will tender them with your financial and tax advisors.
All of our directors and executive officers have advised the company that they do not intend to tender shares pursuant to the Offer. As a result, the offer will increase the proportional
holdings of our directors and executive officers. However, after expiration of the Offer, our directors and executive officers may, in compliance with applicable law and applicable policies of the company, sell their shares in open market
transactions at prices that may be more or less favorable than the purchase price to be paid to our shareholders in the Offer. See Section 11.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE OFFER OR PASSED UPON THE MERITS OR FAIRNESS OF THE OFFER OR PASSED UPON THE
ADEQUACY OR ACCURACY OF THE
12
INFORMATION CONTAINED IN THIS DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
We will pay all fees and expenses incurred in connection with the Offer by the Dealer Managers, the Information Agent and the Depositary. See Section
16.
As of April 19, 2007, the Company had 70,362,492 issued and outstanding shares of Common Stock. The 11,857,707 shares that we are offering to purchase pursuant to the Offer represent
approximately 17% of the shares of Common Stock outstanding on April 19, 2007. The Companys shares are traded on the New York Stock Exchange under the symbol PGI. On April 19, 2007, the last full trading day prior to the
announcement of the Offer, the last reported sale price for the Common Stock on the New York Stock Exchange was $11.25 per share.
Shareholders are urged to obtain current market quotations for the shares before deciding whether and at what purchase price or purchase prices to tender their shares. See Section 8 and Section 11.
1. Number of Shares; Purchase Price; Proration.
Upon the terms and subject to the conditions of the Offer, we will purchase up to 11,857,707 shares of our Common Stock, or such lesser number of shares as are properly tendered and not
properly withdrawn in accordance with Section 4 before the Expiration Date, at a price of $12.65 per share, net to the seller in cash, less any applicable withholding taxes and without interest.
The term Expiration Date means 5:00 p.m., New York City time, on Monday, May 21, 2007, unless and until we, in our sole discretion, shall have extended the period of time during
which the Offer will remain open, in which event the term Expiration Date shall refer to the latest time and date at which the Offer, as so extended by us, shall expire. See Section 15 for a
description of our right to extend, delay, terminate or amend the Offer.
If the tender offer is over-subscribed as described below, shares tendered will be subject to proration. The proration period and withdrawal rights expire on the Expiration Date.
If we (1) increase or decrease the price to be paid per share, (2) increase the number of shares being sought in the tender offer and such increase in the number of shares being sought exceeds
2% of our outstanding shares, or (3) decrease the number of shares being sought, and the tender offer is scheduled to expire at any time earlier than the expiration of a period ending on the tenth business day (as defined below) from, and including,
the date that announcement of any such increase or decrease is first published, sent or given in the manner specified in Section 15, the tender offer will be extended until the expiration of such period of ten business days. A business
day means any day other than a Saturday, Sunday or United States federal holiday and consists of the time period from 12:01 a.m. through 12:00 Midnight, New York City time.
The Tender Offer is not conditioned on any minimum number of shares being tendered. The Tender Offer is, however, subject to other conditions. See
Section 7.
We will purchase all shares in the Offer at the same purchase price. We will only purchase shares properly tendered and not properly withdrawn. However, because of the odd lot
priority, proration and conditional tender provisions of the Offer, we may not purchase all of the shares if more than the number of shares we seek are properly tendered. We will return all shares tendered and not purchased pursuant to the Offer to
the tendering shareholders at our expense, promptly following the Expiration Date.
We expressly reserve the right, in our sole discretion, to purchase more than 11,857,707 shares under the Offer, subject to applicable law. In accordance with the rules of the SEC, we may
purchase an additional amount of shares not to exceed 2% of the outstanding shares (approximately 1,407,250 shares as of April 19, 2007). However, if we purchase an additional number of shares in excess of 2% of the outstanding shares, we will amend
and extend the Offer in compliance with applicable law. See Section 15.
13
In the event of an over-subscription of the Offer as described below, shares tendered prior to the Expiration Date will be subject to proration, except for odd lots. The proration
period and withdrawal rights also expire on the Expiration Date.
Priority of Purchases. On the terms and subject to the conditions of the Offer, if more than 11,857,707 shares (or such greater number of shares as we
may elect to purchase, subject to applicable law) have been properly tendered and not properly withdrawn before the Expiration Date, we will purchase such properly tendered shares on the basis set forth below:
As we noted above, we may elect to purchase more than 11,857,707 shares in the Offer, subject to applicable law. If we do so, the preceding provisions will apply to that greater number of
shares.
Odd Lots. For purposes of the Offer, the term odd lots means all shares properly tendered held by a shareholder who owns beneficially or of
record an aggregate of fewer than 100 shares who we refer to as an odd lot holder, and so certifies in the appropriate place on the related Letter of Transmittal and, if applicable, the Notice of Guaranteed Delivery. To qualify for this
preference, an odd lot holder must tender all shares owned beneficially or of record by the odd lot holder in accordance with the procedures described in Section 3. As set forth above, odd lots will be accepted for payment before proration, if any,
of the purchase of other tendered shares. This preference is not available to partial tenders or to beneficial or record holders of an aggregate of 100 or more shares, even if these holders have separate accounts or certificates representing fewer
than 100 shares. By accepting the Offer, an odd lot holder who holds shares in his or her name and tenders his or her shares directly to the Depositary would not only avoid the payment of brokerage commissions, but also would avoid any applicable
odd lot discounts in a sale of the holders shares. Any odd lot holder wishing to tender all of such odd lot holders shares pursuant to the Offer should complete the box entitled Odd Lots in the Letter of Transmittal and, if
applicable, the Notice of Guaranteed Delivery. The preferential treatment of holders of fewer than 100 shares, as described in this Offer to Purchase, will not apply to participants in the 401(k) Plan, regardless of the number of shares allocable to
units held within their individual accounts. Likewise, the conditional tender of shares, as described in this Offer to Purchase, will not apply to participants in the 401(k) Plan.
Proration. If proration of tendered shares is required, the Depositary will determine the proration factor promptly following the Expiration Date.
Proration for each shareholder tendering shares, other than odd lot holders, will be based on the ratio of the number of shares properly tendered and not properly withdrawn by such shareholder to the total number of shares properly tendered and not
properly withdrawn by all shareholders, other than odd lot holders, subject to conditional tenders. The preliminary results of any proration will be announced by press release promptly after the Expiration Date. After the Expiration Date,
shareholders may obtain preliminary proration information from the Information Agent and also may be able to obtain the information from their brokers.
As described in Section 14, the number of shares that we will purchase from a shareholder pursuant to the Offer may affect the United States federal income tax consequences to the shareholder
of the purchase and, therefore, may be relevant to a shareholders decision whether or not to tender shares. The Letter of Transmittal
14
affords each shareholder who tenders shares registered in such shareholders name directly to the Depositary the opportunity to designate the order of priority in which shares tendered are to be purchased in the event
of proration as well as the ability to condition such tender on a minimum number of shares being purchased.
This Offer to Purchase and the related Letter of Transmittal will be mailed to record holders of the shares and will be furnished to brokers, dealers, commercial banks, trust companies and
other nominees and similar persons whose names, or the names of whose nominees, appear on our shareholder list or, if applicable, who are listed as participants in a clearing agencys security position listing for subsequent transmittal to
beneficial owners of shares.
2. Purpose of the Tender Offer; Certain Effects of the Tender Offer.
Purpose of the Tender Offer. The Companys Board of Directors, with the assistance of independent financial advisors, reviewed its strategic plan, its projected use of cash flows for, among other things, capital
expenditures, acquisitions, debt repayment and share repurchases, and a variety of alternatives for using the Companys available financial resources and determined that the tender offer is a prudent use of capital that delivers immediate value
to its shareholders and enables the Company to continue to support growth of its businesses and the execution of its strategic plan. The Offer price represents a premium of approximately 10% above the average closing stock price over the last ten
trading days prior to the announcement of the Offer.
The Board of Directors considered the Companys existing and anticipated capital structure and financial position, including outstanding Common Stock, debt and debt structure, financial
ratios and anticipated cost and availability of financing, as well as credit ratings, the market price of the Common Stock and the Companys operations, strategy and expectations for the future. The Board believes that incurring debt to fund
the Offer is a prudent use of the Companys financial resources and an effective means of providing value to the Companys shareholders. The Company currently projects the Offer will be accretive to its diluted earnings per share.
See Section 2.
The Board of Directors believes that the Offer represents a mechanism to provide all of the Companys shareholders with the opportunity to tender all or a portion of their shares and,
thereby, receive a return of some or all of their investment if they so elect. The Offer provides shareholders (particularly those who, because of the size of their shareholdings, might not be able to sell their shares without potential disruption
to the share price) with an opportunity to obtain liquidity with respect to all or a portion of their shares without potential disruption to the share price. In addition, if we complete the Offer, shareholders who do not participate in the Offer
will automatically increase their relative percentage ownership interest in the Company and its future operations.
The Offer also provides shareholders with an efficient way to sell their shares without incurring brokers fees or commissions associated with open market sales. Furthermore, odd lot
holders who hold shares registered in their names and tender their shares directly to the Depositary and whose shares are purchased in the Offer will avoid any applicable odd lot discounts that might otherwise be payable on sales of their shares.
See Sections 1 and 2.
The tender offer represents an opportunity for Premiere Global to return cash to shareholders who elect to tender their shares, while at the same time increasing non-tendering
shareholders proportionate interest in Premiere Global. Premiere Global believes that the tender offer is a prudent use of its financial resources given its business profile, assets and the current market price of the shares, and that
investing in its own shares is an attractive use of capital and an efficient means to provide value to its shareholders.
At the same time, we believe that the purchase of shares pursuant to the Offer represents an attractive investment for the Company, which should not interfere with our ability to maintain the
financial flexibility we need to continue to execute our strategy, while complying with the applicable financial covenants.
We believe that the Offer is consistent with our objective of returning value to shareholders and increasing long-term shareholder value. While the Company believes that the Shares have
potential for significant appreciation over the long term, the Company also recognizes that actual experience may differ significantly from the Companys expectations. In that regard, future events, such as deterioration in existing economic
conditions,
15
adverse effects on operations or governmental and regulatory developments could adversely affect our ability to fully implement our strategy. As a result, the Company recognizes that some shareholders may desire
liquidity.
The Offer will reduce our public float (the number of shares owned by non-affiliate shareholders and available for trading in the securities markets), and is likely to reduce the
number of our shareholders.
Following the completion or termination of the Offer, we may, from time to time, repurchase shares on the open market or through private or public transactions in accordance with applicable
law. Exchange Act Rule 13e-4 generally prohibits us and our affiliates from purchasing any shares of Common Stock, other than in the Offer, until at least 10 business days after the Expiration Date.
Certain Effects of the Offer. The Offer will reduce the number of shares that might otherwise trade publicly and is likely to reduce the number of our
shareholders. As of April 19, 2007, we had issued and outstanding 70,362,492 shares. The 11,857,707 shares that we are offering to purchase pursuant to the Offer represent approximately 17% of the shares outstanding as of that date. Shareholders may
be able to sell non-tendered shares in the future on the New York Stock Exchange or otherwise, at a net price higher or lower than the purchase price in the Offer. We can give no assurance, however, as to the price at which a shareholder may be able
to sell such shares in the future.
Shareholders who decide not to tender will own a greater percentage interest in the Companys outstanding shares following the consummation of the Offer. These shareholders will also
continue to bear the risks associated with owning shares of Common Stock, including risks resulting from our purchase of shares in the Offer. All of our directors and executive officers have advised us that they do not intend to tender shares in the
Offer. Accordingly, if we complete the Offer, the proportional holdings of our directors and executive officers will increase. However, after expiration of the Offer, our directors and executive officers may, subject to applicable law and applicable
policies of the Company, sell their shares in open market transactions at prices that may be more or less favorable than the purchase price to be paid to our shareholders in the Offer. See Section
11.
We anticipate that there will be a sufficient number of shares outstanding and publicly traded following completion of the Offer to ensure a continued trading market for the shares. Based upon
published guidelines of the New York Stock Exchange, we do not believe that our purchase of shares under the Offer will cause the remaining outstanding shares to be delisted from the New York Stock Exchange. We also believe that our purchase of
shares under the Offer will not result in the shares becoming eligible for deregistration under the Exchange Act.
We will borrow a significant
amount of cash under our existing line of credit, which has been amended to accommodate
the Offer, to pay for the tendered shares and related expenses. Depending on
the amount of shares tendered, we currently estimate our borrowings to finance
the purchase of the tendered shares under our line of credit will be approximately $150
million. See Section 9.
Potential Benefits of the Offer. Premiere Global believes the Offer will provide benefits to the Company and its shareholders, including the
following:
Potential Risks and Disadvantages of the Offer. The Offer also presents some potential risks and disadvantages to Premiere Global and its continuing
shareholders, including the following:
16
Except as disclosed in this Offer to Purchase, the Company currently has no plans, proposals or negotiations that relate to or would result in:
Notwithstanding the foregoing, we reserve the right to change our plans and intentions at any time as we deem appropriate. Nothing in this Offer will preclude us from pursuing, developing or
engaging in future plans, proposals or negotiations that relate to or would result in one or more of the foregoing events, subject to applicable law.
We currently intend to
cancel all of the shares we acquire pursuant to the Offer and will not maintain
them as treasury shares. 3. Procedures for Tendering Shares.
Proper Tender of Shares. For shares to be tendered pursuant to the Offer, the certificates for such shares (or confirmation of receipt of such shares
pursuant to the procedure for book-entry transfer set forth below), together with a properly completed and duly executed Letter of Transmittal (or a manually signed facsimile of the Letter of Transmittal), including any required signature
guarantees, or an Agents Message (as defined below), and any other documents required by the Letter of Transmittal, must be received before 5:00 p.m., New York City time, on Monday, May 21, 2007, by the Depositary at its address set forth on the back cover of this Offer to
Purchase.
17
In the alternative, the tendering shareholder must, before the Expiration Date, comply with the guaranteed delivery procedures described below.
Shareholders holding their shares through a broker, dealer, commercial bank, trust company or other nominee must contact the nominee in order to tender their shares. Shareholders who hold
shares through nominees are urged to consult their nominees to determine whether transaction costs may apply if shareholders tender shares through the nominees and not directly to the Depositary.
Shareholders may tender shares subject to the condition that all, or a specified minimum number of shares, be purchased. Any shareholder desiring to make such a conditional tender should so
indicate in the box entitled Conditional Tender in the Letter of Transmittal. It is the tendering shareholders responsibility to determine the minimum number of shares to be purchased. Shareholders should consult their own
financial and tax advisors with respect to the effect of proration of the Offer and the advisability of making a conditional tender. See Section 6 and Section 14.
Signature Guarantees and Method of Delivery. No signature guarantee is required if:
If a certificate for shares is registered in the name of a person other than the person executing the Letter of Transmittal, or if payment is to be made, or shares not purchased or tendered are
to be issued, to a person other than the registered holder, then the certificate must be endorsed or accompanied by an appropriate stock power, signed in either case exactly as the name of the registered holder appears on the certificate, with the
signature guaranteed by an Eligible Institution.
Payment for shares tendered and accepted for payment pursuant to the Offer will be made only after timely receipt by the Depositary of:
Odd lot holders who tender all their shares must also complete the section captioned Odd Lots in the Letter of Transmittal and, if applicable, in the Notice of Guaranteed Delivery,
to qualify for the preferential treatment available to odd lot holders as set forth in Section 1.
The method of delivery of all documents, including certificates for shares, the Letter of Transmittal and any other required documents, is at the election and risk of the tendering
shareholder. If delivery is by mail, then registered mail with return receipt requested, properly insured, is recommended. In all cases, sufficient time should be allowed to ensure timely delivery. All
deliveries in connection with the Offer, including a Letter of Transmittal
and certificates for shares, must be made to the Depositary and not to us,
the Dealer Managers, the Information Agent or the Book-Entry
18 Facility. Any documents delivered to us, the dealer managers, the information agent or the Book-Entry Transfer Facility will not be forwarded to the Depositary and will not be
deemed to be properly tendered.
Book-Entry Delivery. The Depositary will establish an account with respect to the shares for purposes of the Offer at the Book-Entry Transfer Facility
within two business days after the date of this Offer to Purchase, and any financial institution that is a participant in the Book-Entry Transfer Facilitys system may make book-entry delivery of the shares by means of a book-entry transfer by
causing the Book-Entry Transfer Facility to transfer shares into the Depositarys account in accordance with the Book-Entry Transfer Facilitys procedures for transfer. Although delivery of shares may be effected through a book-entry
transfer into the Depositarys account at the Book-Entry Transfer Facility, a properly completed and duly executed Letter of Transmittal or a manually signed facsimile of the Letter of Transmittal, including any required signature guarantees,
or an Agents Message, and any other required documents must, in any case, be transmitted to and received by the Depositary at its address set forth on the back cover of this Offer to Purchase before the Expiration Date, or the tendering
shareholder must comply with the guaranteed delivery procedure described below. Delivery of the Letter of Transmittal and any other required documents to the Book-Entry Transfer Facility does not constitute delivery to the Depositary.
The term Agents Message means a message transmitted by the Book-Entry Transfer Facility to, and received by, the Depositary, which states that the Book-Entry Transfer Facility
has received an express acknowledgment from the participant in the Book-Entry Transfer Facility tendering the shares that such participant has received and agrees to be bound by the terms of the Letter of Transmittal and that we may enforce such
agreement against the participant.
Guaranteed Delivery. If you wish to tender shares in the Offer and your certificates for shares are not immediately available or the procedures for
book-entry transfer cannot be completed on a timely basis or time will not permit all required documents to reach the Depositary prior to the Expiration Date, your tender may be effected if all the following conditions are met:
A Notice of Guaranteed Delivery must be delivered to the Depositary by hand, overnight courier, facsimile transmission or mail before the Expiration Date and must include a guarantee by an
eligible institution in the form set forth in the Notice of Guaranteed Delivery.
Return of Unpurchased
Shares. If
any tendered shares are not purchased in the Offer or are properly withdrawn
before the Expiration Date, or if less than all shares evidenced by a shareholders
certificates are tendered, we will return certificates for unpurchased shares
promptly after the expiration or termination of the Offer or, in the case of
shares tendered by book-entry transfer at the Book-Entry Transfer Facility,
the shares will be credited to the appropriate account maintained by the tendering
shareholder at the Book-Entry Transfer Facility, in each case without expense
to the shareholder.
Stock Options. Holders of vested but unexercised options may exercise such options in accordance with the terms of such options and tender the Common
Stock received upon such exercise in accordance with the Offer. Proper Tender of Shares above. Holders of vested but unexercised options should evaluate this Offer to Purchase carefully to determine if participation would be
advantageous to them, based on their stock option exercise prices, See
19 the date of their stock option grants and the years left to exercise their options, the purchase price and the provisions for pro rata purchases by us described in Section 1. If you executed a broker-assisted sell-to-cover
exercise of an option, you will only be able to tender the net shares that you hold after settlement of the exercise and any applicable withholding taxes. We
strongly encourage those holders to discuss the Offer with their tax advisor, financial advisor and/or broker.
Determination of Validity; Rejection of Shares; Waiver of Defects; No Obligation to Give Notice of Defects.
All questions as to the number of shares to be accepted and the validity, form, eligibility (including time of receipt) and acceptance for payment of any tender of shares will be determined by us, in our sole discretion,
and our determination will be final and binding on all parties. We reserve the absolute right to reject any or all tenders of any shares that we determine are not in proper form or the acceptance for payment of or payment for which may, in the
opinion of our counsel, be unlawful. We also reserve the absolute right to waive any of the conditions of the Offer on or prior to the Expiration Date, or any defect or irregularity in any tender with respect to any particular shares or any
particular shareholder (whether or not we waive similar defects or irregularities in the case of other shareholders), and our interpretation of the terms of the Offer will be final and binding on all parties. In the event a condition is waived with
respect to any particular shareholder, the same condition will be waived with respect to all shareholders. No tender of shares will be deemed to have been properly made until all defects or irregularities have been cured by the tendering shareholder
or waived by us. We will not be liable for failure to waive any condition of the Offer, or any defect or irregularity in any tender of shares. Neither we nor the Dealer Managers, the Depositary, the Information Agent or any other person will be
obligated to give notice of any defects or irregularities in tenders, nor will any of the foregoing incur any liability for failure to give any such notification.
Tendering Shareholders Representation and Warranty; Our Acceptance Constitutes an Agreement. It is a violation of Exchange Act Rule 14e-4 for a
person, directly or indirectly, to tender shares for that persons own account unless, at the time of tender and at the end of the proration period or period during which shares are accepted by lot (including any extensions of such period), the
person so tendering (1) has a net long position equal to or greater than the amount of common stock tendered in (a) common stock or (b) other securities convertible into or exchangeable or exercisable for common stock and, upon
acceptance of the tender, will acquire the common stock by conversion, exchange or exercise and (2) will deliver or cause to be delivered the common stock in accordance with the terms of the Offer. Rule 14e-4 also provides a similar restriction
applicable to a tender on behalf of another person.
A tender of Common Stock in accordance with any of the procedures described above will constitute the tendering shareholders acceptance of the terms and conditions of the Offer, as well
as the tendering shareholders representation and warranty to us that (1) the shareholder has a net long position, within the meaning of Rule 14e-4 promulgated under the Exchange Act, in the Common Stock, or equivalent securities at
least equal to the Common Stock, being tendered, and (2) the tender of Common Stock complies with Rule 14e-4. Our acceptance for payment of Common Stock tendered pursuant to the Offer will constitute a binding agreement between the tendering
shareholder and us on the terms and subject to the conditions of the Offer.
Lost or Destroyed Certificates. Shareholders whose certificates for part or all of their shares have been lost, destroyed or stolen may contact American
Stock Transfer & Trust Company, the Depositary and transfer agent for the shares, at the address set forth on the back cover of this Offer to Purchase for instructions to obtain a replacement certificate. That certificate will then be required
to be submitted together with the Letter of Transmittal in order to receive payment for shares that are tendered and accepted for payment. A bond may be required to be posted by the shareholder to secure against the risk that the certificates may be
subsequently recirculated. The Letter of Transmittal and related documents cannot be processed until the procedures for replacing lost or destroyed certificates have been followed. Shareholders are requested to contact the Depositary immediately in
order to permit timely processing of this documentation. Certificates for shares, together with a properly completed Letter of Transmittal and any other documents required by the Letter of Transmittal, must be delivered to the Depositary and not to
us, the Dealer Managers or the Information Agent. Any certificates delivered to us, the Dealer Managers or the Information Agent will not be forwarded to the Depositary and will not be deemed to be properly tendered.
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Certificates for Common Stock, together with a properly completed Letter of Transmittal and any other documents required by the Letter of Transmittal, must be delivered to the Depositary and
not to the Company, the Dealer Managers or the Information Agent. Any certificates delivered to the Company, the Dealer Managers or the Information Agent will not be forwarded to the Depositary and will not be deemed to be properly
tendered.
Procedures for Participants in the Premiere Global Services, Inc. 401(k) Plan. A participant in the 401(k) Plan may instruct Reliance Trust Company, as
trustee of the 401(k) Plan, to tender some or all of the shares allocable to the units in the participants account by completing the Direction Form in accordance with the instructions in the Letter to Participants in the Premiere Global
Services, Inc. 401(k) Plan furnished separately to participants in the 401(k) Plan and returning it to Ellen Philip Associates, Inc., the independent plan tabulator, in accordance with those instructions. All documents furnished to
shareholders generally in connection with the Offer will be made available to participants whose plan accounts are credited with shares.
Participants in the 401(k) Plan cannot use the Letter of Transmittal to direct the tender of shares allocable to units in their 401(k) Plan, but must use the Direction Form included in the
separate instruction letter sent to them. Participants in the 401(k) Plan who also hold shares outside of the 401(k) Plan, however, must (i) use the Letter of Transmittal to tender shares held outside of the 401(k) Plan and (ii) complete the
Direction Form according to the instructions in the Letter to Participants in the Premiere Global Services, Inc. 401(k) Plan for shares allocable to units held in their 401(k) Plan.
The proceeds received by the 401(k) Plan from any tender of shares allocable to units in a participants plan account will remain in the 401(k) Plan and may be withdrawn only in accordance
with the terms of the 401(k) Plan.
Participants in the 401(k) Plan are urged to read the separate Letter to Participants in the Premiere Global Services, Inc. 401(k) Plan and related materials carefully. 4. Withdrawal Rights.
Except as otherwise provided in this Section 4, tenders of shares pursuant to the Offer are irrevocable. Shares tendered pursuant to the Offer may be withdrawn at any time before the Expiration
Date and, unless we have accepted tendered shares for payment under the Offer, may also be withdrawn at any time after forty (40) business days after the date hereof.
For a withdrawal to be effective, a notice of withdrawal must be in written form and must be received in a timely manner by the Depositary at one of its addresses set forth on the back cover of
this Offer to Purchase. Any notice of withdrawal must specify the name of the tendering shareholder; the number of shares to be withdrawn; and the name of the registered holder of the shares. If the certificates for shares to be withdrawn have been
delivered or otherwise identified to the Depositary, then, before the release of the certificates, the tendering shareholder must also submit the serial numbers shown on the particular certificates for shares to be withdrawn and the signature(s) on
the notice of withdrawal must be guaranteed by an Eligible Institution (except in the case of shares tendered for the account of an Eligible Institution). If shares have been tendered pursuant to the procedure for book-entry transfer described in
Section 3, the notice of withdrawal also must specify the name and the number of the account at the Book-Entry Transfer Facility to be credited with the withdrawn shares and must otherwise comply with the Book-Entry Transfer Facilitys
procedures.
We will determine all questions as to the form and validity, including the time of receipt, of any notice of withdrawal, in our sole discretion, which determination will be final and binding on
all parties. Neither we nor the Dealer Managers, the Depositary, the Information Agent or any other person will be obligated to give notice of any defects or irregularities in any notice of withdrawal, nor will any of the foregoing incur liability
for failure to give any such notification.
Withdrawals may not be rescinded, and any shares properly withdrawn will be deemed not properly tendered for purposes of the Offer. However, withdrawn shares may be re-tendered before the
Expiration Date by again following one of the procedures described in Section 3.
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If we extend the Offer, are delayed in our purchase of shares or are unable to purchase shares pursuant to the Offer for any reason, then, without prejudice to our rights under the Offer, the
Depositary may, subject to applicable law, retain tendered shares on our behalf, and the shares may not be withdrawn except to the extent tendering shareholders are entitled to withdrawal rights as described in this Section 4. Our reservation of the
right to delay payment for shares that we have accepted for payment is limited by Exchange Act Rule 13e-4(f)(3), which requires that we must pay the consideration offered or return the shares tendered promptly after termination or withdrawal of the
Offer.
If you are a participant in the 401(k) Plan, you may withdraw the tender of any shares allocable to the units in your individual 401(k) Plan account you have tendered at any time before 4:00
p.m., New York City time, on Wednesday, May 16, 2007, unless we extend the Offer, in which case you may withdraw the tender of shares allocable to the units in your individual 401(k) Plan account until 4:00 p.m., New York City time, on the day which
is three business days prior to the expiration of the Offer, as extended. Participants desiring to withdraw their tender must follow the instructions set forth in the Letter to Participants in Premiere Global Services, Inc. 401(k) Plan
sent to participants along with this Offer.
5. Purchase of Shares and Payment of Purchase Price.
On the terms and subject to the conditions of the Offer, promptly following the Expiration Date, we will accept for payment and pay for (and thereby purchase) up to 11,858,707 shares (or such
greater number of shares as we may elect to purchase, subject to applicable law) properly tendered and not properly withdrawn. We may purchase an additional amount of shares not to exceed 2% of the outstanding shares (approximately 1,407,250 shares
as of April 19, 2007) without amending or extending the Offer.
For purposes of the Offer, we will be deemed to have accepted for payment (and therefore purchased), subject to the odd lot priority, proration and conditional tender provisions of
the Offer, shares that are properly tendered and not properly withdrawn only when, as and if we give oral or written notice to the Depositary of our acceptance of the shares for payment pursuant to the Offer.
On the terms and subject to the conditions of the Offer, payment for shares tendered and accepted for payment in accordance with the Offer will be made promptly, subject to possible delay due
to proration, but only after timely receipt by the Depositary of:
We will pay for shares purchased pursuant to the Offer by depositing the aggregate purchase price for the shares with the Depositary, which will act as agent for tendering shareholders for the
purpose of receiving payment from us and transmitting payment to the tendering shareholders. In the event of proration, the Depositary will determine the proration factor and pay for those tendered shares accepted for payment promptly after the
Expiration Date. Certificates for all shares tendered and not purchased and shares not purchased due to proration or conditional tenders, will be returned, or, in the case of shares tendered by book-entry transfer, will be credited to the account
maintained with the Book-Entry Transfer Facility by the participant who delivered the shares, to the tendering shareholder promptly after the expiration or termination of the Offer at our expense.
Under no circumstances will interest be paid by us regardless of any delay in making payment. In addition, if certain events occur, we may not be obligated to purchase shares pursuant to the
Offer. See Section 7.
We will pay all stock transfer taxes, if any, payable on the transfer to us of shares purchased pursuant to the Offer. If, however, payment of the purchase price is to be made to, or (in the
circumstances permitted by the Offer) if unpurchased shares are to be registered in the name of, any person other than the registered holder, or if tendered
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certificates are registered in the name of any person other than the person signing the Letter of Transmittal, the amount of all stock transfer taxes, if any (whether imposed on the registered holder or the other person),
payable on account of the transfer to the person will be deducted from the purchase price unless satisfactory evidence of the payment of the stock transfer taxes, or exemption from payment of the stock transfer taxes, is submitted. See Instruction 7 of the Letter of Transmittal.
ANY TENDERING SHAREHOLDER OR OTHER PAYEE WHO FAILS TO COMPLETE FULLY, SIGN AND RETURN TO THE DEPOSITARY THE SUBSTITUTE FORM W-9 INCLUDED WITH THE LETTER OF TRANSMITTAL MAY BE SUBJECT TO U.S.
FEDERAL INCOME TAX BACKUP WITHHOLDING ON THE GROSS PROCEEDS PAID TO THE SHAREHOLDER OR OTHER PAYEE PURSUANT TO THE TENDER OFFER. SEE SECTION 3. 6. Conditional Tender of Shares.
Subject to the exception for odd lot holders, in the event of an over-subscription of the Offer, shares tendered prior to the Expiration Date will be subject to proration.
See Section 1. As discussed in Section 14, the number of shares to be purchased from a particular shareholder may affect the tax treatment of the purchase to the shareholder
and the shareholders decision whether to tender. Accordingly, a shareholder may tender shares subject to the condition that a specified minimum number of the shareholders shares tendered pursuant to a Letter of Transmittal must be
purchased if any shares tendered are purchased. Any shareholder desiring to make a conditional tender must so indicate in the box entitled Conditional Tender in the Letter of Transmittal, and, if applicable, in the Notice of Guaranteed
Delivery. We urge each shareholder to consult with his or her own financial or tax advisors with respect to the advisability of making a conditional tender.
Any tendering shareholder wishing to make a conditional tender must calculate and appropriately indicate the minimum number of shares that must be purchased from that shareholder if any are to
be purchased. After the Offer expires, if more than 11,857,707 shares (or such greater number of shares as we may elect to purchase, subject to applicable law) are properly tendered and not properly withdrawn, so that we must prorate our acceptance
of and payment for tendered shares, we will calculate a preliminary proration percentage based upon all shares properly tendered, conditionally or unconditionally. If the effect of this preliminary proration would be to reduce the number of shares
to be purchased from any shareholder below the minimum number specified, the conditional tender will automatically be regarded as withdrawn (except as provided in the next paragraph). All shares tendered by a shareholder subject to a conditional
tender pursuant to the Letter of Transmittal and regarded as withdrawn as a result of proration will be returned promptly after the Expiration Date at our expense.
After giving effect to these withdrawals, we will accept the remaining shares properly tendered, conditionally or unconditionally, on a prorata basis, if necessary. If conditional tenders would
otherwise be regarded as withdrawn and would cause the total number of shares to be purchased to fall below 11,857,707 shares (or such greater number of shares as we may elect to purchase, subject to applicable law) then, to the extent feasible, we
will select enough of the conditional tenders that would otherwise have been deemed withdrawn to permit us to purchase 11,857,707 shares (or such greater number of shares as we may elect to purchase, subject to applicable law). In selecting among
the conditional tenders, we will select by random lot, treating all tenders by a particular taxpayer as a single lot, and will limit our purchase in each case to the designated minimum number of shares to be purchased. To be eligible for purchase by
random lot, shareholders whose shares are conditionally tendered must have tendered all of their shares. 7. Conditions of the Offer.
The Offer is not conditioned on any minimum number of shares being tendered. However, the Offer is subject to the conditions described below. Notwithstanding any other provision of the Offer,
we will not be required to accept for payment, purchase or pay for any shares tendered, and may terminate or amend the Offer or may postpone the acceptance for payment of or the payment for shares tendered, subject to Exchange Act Rule 13e-4(f)(3),
which requires that we must pay the consideration offered or return the shares tendered promptly after termination or withdrawal of the Offer, if at any time on or after the commencement of the Offer and prior to the Expiration Date any of the
following events have occurred (or are determined by us to have occurred) that, in our judgment and
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regardless of the circumstances giving rise to the event or events (including any action or inaction by us), makes it inadvisable to proceed with the Offer or with acceptance for payment or payment for the shares in the
Offer:
24
The conditions referred to above are for our sole benefit and may be asserted by us regardless of the circumstances giving rise to any such condition, and may be waived by us, in whole or in
part, at any time and from time to time in our discretion. Our failure at any time to exercise any of the foregoing rights will not be deemed a waiver of any right, and each such right will be deemed an ongoing right that may be asserted at any time
and from time to time. In certain circumstances, if we waive any of the conditions described above, we may be required to extend the Expiration Date. Any determination by us concerning the events described above will be final and binding on all
parties. 8. Price Range of Shares; Dividends.
The Companys Common Stock is listed and traded on the New York Stock Exchange under the trading symbol PGI. The following table sets forth, for the fiscal quarters indicated,
the high and low per share sales prices of the Common Stock on the New York Stock Exchange.
On April 19, 2007, the last full trading day before the announcement of the Offer, the reported closing price of the shares on the New York Stock Exchange was $11.25 per share. Shareholders
are urged to obtain current market quotations for the shares before deciding whether, and at what price or prices, to tender their shares pursuant to the Offer.
We have never paid cash dividends on our Common Stock, and the current policy of our Board of Directors is to retain any available earnings for use in the operation and expansion of our
business. The payment of cash dividends on our Common Stock is unlikely in the foreseeable future. Any future determination to pay cash dividends will be at the discretion of our Board and will depend upon our earnings, capital requirements,
financial condition and any other factors deemed relevant by our Board.
Our credit facility contains customary prohibitions on our ability to declare any cash dividends on our Common Stock until all obligations under the line of credit are paid in full and all
letters of credit have been terminated. 9. Source and Amount of Funds.
Assuming we purchase
11,857,707 shares in the Offer at a purchase price of $12.65 per share, approximately $150
million will be required to purchase such shares. We expect that the fees and
expenses that we will incur in connection with the Offer will be approximately $1 million.
We anticipate that we will obtain all of the funds
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necessary to purchase shares tendered in the Offer, and to pay related fees and expenses, through available borrowings under our credit facility, as described below.
Premiere Global maintains a credit facility agented by Bank of America, N.A., consisting of a multicurrency revolving line of credit with a maximum committed amount of $300.0 million, which
credit facility includes an uncommitted accordion feature allowing an additional increase of the revolving line of credit of up to $100.0 million to a maximum amount no greater than $400.0 million, subject to the terms and conditions set
forth in the credit agreement. The revolving line of credit is available until April 22, 2011. A portion of the revolving line of credit may be used for letters of credit and swingline loans. In April 2007, we amended our credit facility to insert
into the applicable margin pricing grid a new tier based on a total leverage ratio of 2.5x or greater, increase the permitted covenant level of the consolidated total leverage ratio and amend certain other provisions to permit us to repurchase,
redeem or otherwise acquire shares of our stock in an aggregate amount not to exceed $150.0 million during the period from April 1, 2007 through and including December 31, 2007, subject to pro forma compliance with the financial covenants under
the credit agreement. The facility was also amended to exclude from the calculation of the consolidated net worth covenant any such repurchases, redemptions or other acquisitions of shares.
The availability of loans under the credit facility is subject to customary conditions, including the absence of any defaults thereunder and the accuracy of our representations and warranties
contained therein. The credit facility includes representations and warranties, covenants and events of default, and requires the Company to comply with certain covenants with respect to its consolidated net worth, fixed charge coverage ratio, total
leverage ratio, EBITDA and senior leverage ratio.
Certain of our material domestic subsidiaries have guaranteed our obligations under the credit facility, which is secured by substantially all of our assets and the assets of our material
domestic subsidiaries. In addition, we have pledged as collateral all of the issued and outstanding stock of our material domestic subsidiaries and 65.0% of our material foreign subsidiaries. We believe that as of March 31, 2007, after giving effect
to the waiver included in the April 2007 amendment of the event of default arising from our failure to deliver certain financial projections by the date required under the credit agreement, we were in compliance in all material respects with all
covenants under our line of credit. Proceeds drawn under the credit agreement may be used for refinancing of existing debt, working capital, capital expenditures, acquisitions and other general corporate purposes, including the repurchase,
redemption or other acquisitions of the shares of our stock permitted under the credit agreement. After the April 2007 amendment to the credit facility, the annual interest rate applicable to borrowings under the line of credit, at our option, is
the base rate (the greater of the federal funds rate plus 0.5% or the Bank of America prime rate) plus 0.00% or LIBOR plus an applicable margin ranging from 0.875% to 1.750% which will vary based upon our consolidated total leverage ratio at the end
of each fiscal quarter. There is also a commitment fee payable in connection with the unused portion of the revolving credit commitments ranging from 0.150% to 0.325% which varies based upon our leverage ratio at the end of each fiscal quarter. At
March 31, 2007, the applicable margin with respect to base rate loans was 0.00%, and the applicable margin with respect to LIBOR loans was 1.25%. At March 31, 2007, our interest rate on 30-day LIBOR loans was 6.57%.
As of April 19, 2007, Premiere Global had outstanding borrowings of approximately $138.5 million and available borrowing capacity of $160.1 million under this facility (without regard
to the uncommitted accordian feature). The Company intends to repay borrowings made to finance the purchase of shares purchased in the Offer using cash from operations. The Offer is not conditioned on the receipt of financing. At the time of the
Offer, except as otherwise described herein, we do not have any alternative financing arrangements or plans in the event these sources do not provide the funds necessary to fund the Offer.
The above summary of certain material terms of our amendment to line of credit is qualified in its entirety by the terms of our Credit Agreement and its amendments, which are filed as exhibits
to the Companys Schedule TO described in Section 10 and which are incorporated herein by reference. The foregoing summary may not contain all of the information about the financing that is important to you. We encourage you to read the credit
agreement and its amendments carefully and in their entirety.
26 10. Certain Information Concerning Us.
Premiere Global is a global provider of on-demand communication technologies-based business process improvement solutions. The Company is subject to the informational filing requirements of the
Exchange Act, which obligates it to file reports, statements and other information with the SEC relating to our business, financial condition and other matters. Information, as of particular dates, concerning its directors and officers, their
remuneration, options granted to them, the principal holders of our securities and any material interest of these persons in transactions with the Company is required to be disclosed in proxy statements distributed to the Companys shareholders
and filed with the SEC. As required by Exchange Act Rule 13e-4(c)(2), we have also filed with the SEC an Issuer Tender Offer Statement on Schedule TO (the Schedule TO), which includes additional information relating to the Offer.
These reports, statements and other information can be inspected and copied at the public reference facilities maintained by the SEC at 100 F Street, N.E., Washington, D.C. 20549. Copies of
this material may also be obtained by mail, upon payment of the SECs customary charges, from the Public Reference Section of the SEC at 100 F Street, N.E., Washington, D.C. 20549. The SEC also maintains a web site at http://www.sec.gov that
contains reports, proxy and information statements and other information regarding registrants that file electronically with the SEC, including the Schedule TO and documents incorporated by reference. You may obtain information about the Public
Reference Room by calling the SEC at 1-800-SEC-0330. These reports, proxy statements and other information concerning us also can be inspected at the offices of the New York Stock Exchange at 20 Broad Street, New York, New York 10005.
Incorporation by Reference. The rules of the SEC allow us to incorporate by reference information into this document, which means that we can
disclose important information to you by referring you to another document filed separately with the SEC. We incorporate by reference each of the following documents:
Any statement contained in any document incorporated by reference into this Offer to Purchase shall be deemed to be modified or superseded to the extent that an inconsistent statement is made
in this Offer to Purchase or any subsequently filed document. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Offer to Purchase.
You can obtain any of the documents incorporated by reference in this document from us or from the SECs web site at the address described above. Documents incorporated by reference are
available from the Company without charge, excluding any exhibits to those documents, at the Companys principal executive office located at 3399 Peachtree Road, N.E., The Lenox Building, Suite 700, Atlanta, Georgia 30326, (404) 262-8400, Attn:
Secretary.
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You may also request a copy of these filings, at no cost, by writing or telephoning the Information Agent at its address and telephone number set forth below: The Information Agent for the
Offer is:
Please be sure to include your complete name and address in your request. If you request any incorporated documents, the Company will mail them to you by first class mail, or another equally
prompt means, within one business day after receiving your request.
11. Interests of Directors and Executive Officers; Transactions and Arrangements Concerning the Shares.
Beneficial Ownership. As
of April 19, 2007, the Company had 70,362,492 issued and outstanding shares of
Common Stock. The 11,857,707 shares that we are offering to purchase represent
approximately 17% of the shares outstanding on April 19, 2007. As of April 19,
2007, the Companys directors and executive officers as a group beneficially owned 5,756,483 shares or approximately 8.1% of the total
outstanding shares of the Common Stock plus the shares issuable upon the exercise of stock options held by the Companys directors and executive officers that are exercisable within 60 days after such date.
Based on the shares of
Common Stock issued and outstanding, the following table sets forth the (i) beneficial
ownership, as of April 19, 2007, of each executive officer and director of the
Company, each person controlling the Company and each executive officer and director
of any corporation or other person ultimately in control of the Company and (ii)
assuming we purchase 11,857,707 shares of Common Stock in the Offer, the percentage
beneficially owned by such persons after consummation of the Offer.
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Agreements, Arrangements or Understandings. The Companys directors and executive officers have advised us that they do not intend to tender their shares in the Offer.
Securities Transactions. Based on our records and on information provided to us by the Companys directors, executive officers, affiliates and
subsidiaries, none of the Company or any of its directors, executive officers, affiliates or subsidiaries has effected any transactions involving shares of Common Stock during the 60 days prior to April 23, 2007, except as provided below.
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Equity Compensation Plans and Agreements. The Premiere Global Services, Inc. 2004 Long-Term Incentive Plan, 2000 Directors Stock Plan, and 1995 Stock Plan, each as amended, form the
basis of the equity-based incentive plans for key employees, directors or consultants of the Company. Grants of stock awards to our executive officers and directors are made under these plans administered by the compensation committee of our board
of directors.
Equity Compensation for Non-Employee Directors. An annual equity award of $80,000 in fair market value of restricted stock is granted under our 2000
Directors Stock Plan to each non-employee director in arrears on the last day of each board year in recognition of service for the prior board year, provided that the director remains a board member on such date. The grant date for the 2005 - 2006
board year was the date of our 2006 annual shareholders meeting on May 3, 2006. The grant date for the 2006 - 2007 board year will be the date of our 2007 annual shareholders meeting. The chairmen of our audit committee and compensation
committee receive an additional equity award of $10,000 in fair market value of shares of restricted stock per board year, and each member of our audit and compensation committees receive an additional equity award of $5,000 in fair market
value of shares of restricted stock per board year; provided that the director remains chairman or a committee member on such date. The shares of restricted stock vest immediately in recognition of service during the prior board year, and the number
of shares to be granted will be determined by dividing the dollar amount of the applicable annual award by the fair market value per share of our common stock on the grant date, with any partial shares to be paid in cash.
In July 2006, our compensation
committee recommended, and our board of directors approved, changes to the equity
component of our outside director compensation arrangements, effective for the
2006 - 2007 board year, which provided for the grant of annual equity awards
on the earlier of the last day of each board year for recognition of service
for the prior board year, or upon a change in control of the company. We no longer
grant stock options to a director upon joining our board. Directors joining the
board during a board year receive pro-rated equity awards.
Potential Payments Upon Termination or Change in Control. We have entered into employment agreements or letters with each of our named executive officers
that provide for severance payments or benefits upon termination of employment and change of control. Certain of these agreements provide for vesting of stock options and restricted stock upon a change of control, as defined.
Separation and Restricted Stock Agreement with Jeffrey A. Allred. Mr. Allred served as our President and Chief Operating Officer until July 2006, when he
became our Chief Investment Officer, a position he held until his resignation upon the expiration date of the term of his employment agreement on January 1, 2007. In connection with his resignation, we entered into a separation agreement and
restricted stock agreement with Mr. Allred, providing for, among other things, the payment of $1.2 million in cash severance, the issuance of restricted stock having a fair market value of $600,000 (subject to a one-year holding period
restriction) and the continuation of certain benefits for a two-year period.
Loans to Boland T. Jones. We have made loans to Boland T. Jones, our Chairman of the Board and Chief Executive Officer, which loans are secured by our
common stock held directly by Mr. Jones and by Seven Gables Partnership, L.P., a limited partnership whose general partner is Seven Gables Management Company, LLC and whose limited partner is a trust of which Mr. Jones was the grantor and his wife
the trustee. Seven Gables Management Company is a limited liability company of which Mr. Jones and his wife are the sole members. The loans were made pursuant to Mr. Jones then current employment agreement for the exercise price of certain
stock options and the taxes related thereto. We had a legal commitment to make these loans prior to July 30, 2002, without having any discretion or termination right with respect to these existing obligations, which have not been modified or
extended in any way. Each loan is evidenced by a recourse promissory note bearing interest at the applicable federal rate and is secured by the common stock purchased. These loans mature between 2007 and 2010. No payments are due prior to the due
date of each loan. The highest aggregate principal amount of the loans, including accrued interest, outstanding during 2006 was $2,004,398, and the terms of these loans are as follows:
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As of April 13, 2007, the aggregate outstanding loan amount for Mr. Jones was $2,036,865. Settlement
Agreement with Crescendo Partners II, L.P. Series E. On
April 19, 2007, the Company entered into
an agreement with Crescendo Partners with regard to the Companys Annual
Meeting. Under
the terms of the agreement, Premiere Global agreed to commence the Offer. The
Company has also agreed to recommend that shareholders approve at the Companys
2007 annual meeting a proposal to declassify its Board of Directors.
As part of the settlement, Crescendo Partners has withdrawn its proxy contest and certain activities related to the Companys 2007 annual meeting and has agreed to vote its shares in favor
of the Boards nominees and proposals at the 2007 annual meeting. Crescendo Partners has also agreed to certain standstill provisions until the earlier of the Companys 2008 Annual Meeting and June 30, 2008, however the standstill
provisions do not preclude Crescendo Partners from nominating up to two directors for election to the Board in connection with the 2008 Annual Meeting.
Company 401(k) Plan. The
401(k) Plan permits 401(k) Plan participants to invest in a Stock Fund comprised
of the Companys Common Stock.
The foregoing descriptions
of the Companys
equity-based plans and agreements are qualified in their entirety by reference
to the text of the plans and agreements, copies of which have been filed with
the SEC and are incorporated herein.
Except as otherwise described or incorporated by reference herein, neither the Company nor, to the best of our knowledge, any of our affiliates, directors or executive officers, is a party to
any contract, agreement, arrangement, understanding or relationship with any other person with respect to any of our securities.
12. Effects of the Offer on the Market for Shares; Registration under the Exchange Act.
The purchase by us of Common Stock in the Offer will reduce the number of shares that might otherwise be traded publicly and is likely to reduce the number of shareholders. As a result, trading
of a relatively small volume of the Common Stock after consummation of the Offer may have a greater impact on trading prices than would be the case prior to consummation of the Offer.
We believe that there will be a sufficient number of shares outstanding and publicly traded following completion of the Offer to ensure a continued trading market for the shares. Based upon
published guidelines of the New York Stock Exchange, we do not believe that our purchase of shares under the Offer will cause the remaining outstanding shares to be delisted from the New York Stock Exchange. The Offer is conditioned upon our
determination that the consummation of the Offer and the purchase of shares will not cause the shares to be delisted from the New York Stock Exchange. See Section 7.
Our shares are currently margin securities under the rules of the Board of Governors of the Federal Reserve System. This has the effect, among other things, of allowing brokers to
extend credit to their customers using such shares as collateral. We believe that, following the purchase of shares under the Offer, the shares will continue to be margin securities for purposes of the Federal Reserve Boards margin
rules and regulations.
31
The shares are registered under the Exchange Act, which requires, among other things, that we furnish certain information to our shareholders and the SEC and comply with the SECs proxy
rules in connection with meetings of our shareholders. We believe that our purchase of shares under the Offer pursuant to the terms of the Offer will not result in the shares becoming eligible for deregistration under the Exchange Act.
It is a condition of our obligation to purchase Common Stock pursuant to the Offer that as a result of the consummation of the Offer there not be a reasonable likelihood that the shares will be
held of record by less than 300 persons or that the shares will be eligible for deregistration under the Exchange Act. 13. Certain Legal Matters; Regulatory Approvals.
We are not aware of any license or regulatory permit that is reasonably likely to be material to our business that might be adversely affected by our acquisition of shares as contemplated in
the Offer or of any approval or other action by any government or governmental, administrative or regulatory authority or agency, domestic, foreign or supranational, that would be required for our acquisition or ownership of shares as contemplated
by the Offer. Should any approval or other action be required, we presently contemplate that we will seek that approval or other action, but we have no current intention to delay the purchase of shares tendered pursuant to the Offer pending the
outcome of any such matter, subject to our right to decline to purchase shares if any of the conditions in Section 7 have not been satisfied or waived. We cannot predict whether we would be required to delay the acceptance for payment of or payment
for shares tendered pursuant to the Offer pending the outcome of any such matter. We cannot assure you that any approval or other action, if needed, would be obtained or would be obtained without substantial cost or conditions or that the failure to
obtain the approval or other action might not result in adverse consequences to our business and financial condition. If certain types of adverse actions are taken with respect to the matters discussed above, or certain approvals, consents, licenses
or permits identified above are not obtained, we can decline to accept for payment or pay for any shares tendered. See Section 7.
14. Certain United States Federal Income Tax Consequences.
The following is a summary of certain United States federal income tax consequences of the Offer to shareholders whose shares of the Common Stock are properly tendered and accepted for payment
pursuant to the Offer. Those shareholders who do not participate in the Offer should not have any United States federal income tax consequences as a result of the exchange. This summary is based upon the Internal Revenue Code of 1986, as amended
(the Code), existing and proposed United States Treasury Regulations promulgated under the Code, published rulings, administrative pronouncements and judicial decisions, all as of the date hereof and any changes to which could affect the
tax consequences described in this Offer to Purchase (possibly on a retroactive basis). This summary addresses only shares of the Common Stock held as capital assets. It does not address all of the tax consequences that may be relevant to particular
shareholders because of their personal circumstances (including, without limitation, certain financial institutions, brokers, dealers or traders in securities or commodities, insurance companies, S corporations, partnerships (including
entities treated as partnerships for United States federal income tax purposes), expatriates, tax-exempt organizations, tax-qualified retirement plans, persons who are subject to alternative minimum tax, persons who hold shares of the Common Stock
as a position in a straddle or as part of a hedging, conversion or integrated transaction, or Unites States Holders (as defined below) that have a functional currency other than the United States
dollar). This summary also does not apply with respect to shares of the Common Stock acquired upon the exercise of stock options or otherwise as compensation. This summary also does not address tax considerations arising under any state, local or
foreign laws, or under United States federal estate or gift tax laws.
In addition, if a partnership (including any entity treated as a partnership for United States federal income tax purposes) is a shareholder, the tax treatment of a partner in the partnership
will generally depend upon the status of the partner and the activities of the partnership. A shareholder that is a partnership, and partners in such partnership, should consult their own tax advisors regarding the tax consequences of participating
in the Offer. You are urged to consult your tax advisor as to the particular consequences to you of participating in the Offer.
For purposes of this summary, a United States Holder is a beneficial owner of shares of the Common Stock that for United States federal income tax purposes is:
32
A Non-United States Holder is a beneficial owner of shares of the Common Stock other than a United States Holder or an entity or arrangement treated as a partnership for United
States federal income tax purposes. Consequences of the Offer to United States Holders.
Characterization of the PurchaseDistribution vs. Sale Treatment. Our purchase of shares of the Common Stock from a United States Holder pursuant to
the Offer will be a taxable transaction for United States federal income tax purposes. As a consequence of any such purchase, a United States Holder will, depending on the United States Holders particular circumstances, be treated either as
having sold the United States Holders shares of the Common Stock or as having received a distribution in respect of such United States Holders shares of the Common Stock. The purchase of shares of the Common Stock pursuant to the Offer
will be treated as a sale if a United States Holder meets any of the three tests discussed below (the Section 302 tests). The purchase will be treated as a distribution if the United States Holder does not satisfy at least one of the
Section 302 tests.
We cannot predict whether any particular United States Holder will be subject to sale or distribution treatment. Each United States Holder should be aware that because proration may occur in
the Offer, even if all the shares of the Common Stock actually and constructively owned by a United States Holder are tendered pursuant to the Offer, fewer than all of such shares of the Common Stock may be purchased by us. Consequently, we cannot
assure you that a sufficient number of any particular United States Holders shares of the Common Stock will be purchased to ensure that this purchase will be treated as a sale or exchange, rather than as a distribution, for United States
federal income tax purposes pursuant to the rules discussed below. Accordingly, a tendering United States Holder may choose to submit a conditional tender under the procedures described in Section 6, which allows the United States Holder
to tender shares of the Common Stock subject to the condition that a specified minimum number of the United States Holders shares of the Common Stock must be purchased by us if any such shares of the Common Stock so tendered are purchased.
A United States Holder that satisfies any of the Section 302 tests explained below will be treated as having sold the shares of the Common Stock purchased by us pursuant to the Offer and will
generally recognize capital gain or loss in an amount equal to the difference between the amount of cash received pursuant to the Offer and the United States Holders tax basis in such shares of the Common Stock. This capital gain or loss will
be long-term capital gain or loss if the United States Holder held the shares of the Common Stock for more than one year as of the date of our purchase pursuant to the Offer. Currently the maximum long-term capital gain rate for individual United
States Holders is 15%. Certain limitations apply to the deductibility of capital losses by United States Holders. A United States Holder must calculate gain or loss separately for each block of shares of the Common Stock (generally, shares of the
Common Stock acquired at the same cost in a single transaction) that we purchase from a United States Holder pursuant to the Offer. A United States Holder may be able to designate which blocks of shares of the Common Stock it wishes to tender in the
Offer if less than all of its shares of the Common Stock are tendered in the Offer, and the order in which different blocks will be purchased by us in the event of proration in the Offer.
If a United States Holder does not satisfy any of the Section 302 tests explained below, the full amount received by the United States Holder with respect to our purchase of shares of the
Common Stock under the Offer will be treated as a distribution to the United States Holder with respect to the United States Holders shares of the Common Stock. This distribution will be treated as a dividend to the United States Holder to the
extent of the United States Holders share of the current and accumulated earnings and profits of the Company and any other applicable entities, as determined under United States federal income tax principles. Such a dividend would be
includible in the United States Holders gross income without reduction for the tax basis of the shares of the Common Stock exchanged, and no current loss would be recognized. Currently, qualified dividend income is
33
taxable at a maximum rate for individual United States Holders of 15%, which is the same as the maximum tax rate for long-term capital gains, if certain holding period and other requirements are met. We believe that any
such dividend should constitute qualified dividend income for purposes of the Code. To the extent that the amount received by a United States Holder exceeds the United States Holders share of the current and accumulated earnings
and profits of the Company and any other applicable entities, the excess first will be treated as a tax-free return of capital to the extent, generally, of the United States Holders tax basis in its shares of the Common Stock and any remainder
will be treated as capital gain from the sale of shares of the Common Stock. To the extent that a purchase of a United States Holders shares of the Common Stock by us in the Offer is treated as the receipt of a dividend, the United States
Holders remaining adjusted tax basis (after the adjustment as described in the preceding sentence) in the purchased shares of the Common Stock will be added to any shares of the Common Stock retained by the United States Holder, subject to
certain adjustments in the case of a corporate shareholder.
To the extent that a corporate United States Holder is treated as receiving a dividend, as described above, it may be eligible for a dividends received deduction (subject to applicable
limitations). In addition, any amount received by a corporate United States Holder that is treated as a dividend may constitute an extraordinary dividend under Section 1059 of the Code, thereby resulting in a reduction of tax basis or
possible gain recognition in an amount equal to the non-taxed portion of the dividend. Corporate United States Holders should consult their own tax advisors as to the application of Section 1059 of the Code to the Offer and the tax consequences of
dividend treatment of the purchase of shares of the Common Stock pursuant to this Offer in their particular circumstances.
Section 302 TestsDetermination of Sale or Distribution Treatment. Our purchase of shares of the Common Stock pursuant to the Offer will be treated
as a sale of the shares of the Common Stock by a United States Holder if any of the following Section 302 tests is satisfied:
As indicated above, if none of these tests is met with respect to a particular United States Holder, then our purchase of shares of the Common Stock pursuant to the Offer will be treated as a
distribution. In applying the Section 302 tests, the constructive ownership rules of Section 318 of the Code generally apply. As a result, a United States Holder is treated as owning not only shares of the Common Stock actually owned by such holder
but also shares of the Common Stock actually (and in some cases constructively) owned by certain related entities and individuals. Under the constructive ownership rules, a United States Holder will be considered to own shares of the Common Stock
owned, directly or indirectly, by certain members of the holders family and certain entities (such as corporations, partnerships, trusts and estates) in which the United States Holder has an equity interest, as well as certain shares of the
Common Stock which the United States Holder has an option to acquire.
34
If a United States Holder sells shares of the Common Stock to persons other than us, gain or loss recognized on such sales will be capital gain or loss and will be long-term capital gain or
loss if the holder held the shares of the Common Stock for more than one year at the date of the sale. If such sale occurs at or about the time such holder also sells shares of the Common Stock pursuant to the Offer, and the various sales effected
by the United States Holder are part of an overall plan to reduce or terminate such holders proportionate interest in the Company, then the sales to persons other than us may, for United States federal income tax purposes, be integrated with
the United States Holders exchange of shares of the Common Stock pursuant to the Offer and, if integrated, should be taken into account in determining whether such holder satisfies any of the Section 302 tests with respect to shares of our
Common Stock sold to us.
Consequences of the Offer to Non-United States Holders of Shares. The United States federal income tax treatment of our purchase of shares of the Common
Stock from a Non-United States Holder pursuant to the Offer will depend on whether such holder is treated, based on the Non-United States Holders particular circumstances, as having sold the tendered shares of the Common Stock or as having
received a distribution in respect of such Non-United States Holders shares of the Common Stock. The appropriate treatment of the purchase of shares of the Common Stock will be determined in the manner described above with respect to the
United States federal income tax treatment of a purchase of shares of the Common Stock pursuant to the Offer in the case of United States Holders (see Consequences of the Offer to United States
HoldersSection 302 TestsDetermination of Sale or Distribution Treatment.).
A Non-United States Holder that satisfies any of the Section 302 tests explained above will be treated as having sold the shares of the Common Stock purchased by us pursuant to the Offer. A
Non-United States Holder will generally not be subject to United States federal income tax (and would be eligible to obtain a refund of any amounts withheld as described below) on gain recognized on a sale of shares of the Common Stock unless any
one or more of the following is true:
35
We do not believe that we have been or currently are a United States real property holding corporation. Individual Non-United States Holders who are treated, for United States
federal income tax purposes, as having sold their shares of the Common Stock to us pursuant to the Offer and that are present in the United States for 183 days or more during the year will be taxed on their gains from sale of shares of the Common
Stock, net of applicable United States gains and losses from sale or exchanges of other capital assets incurred during the year, at a flat rate of 30%. Other Non-United States Holders who are treated as having sold their shares of the Common Stock
to us pursuant to the Offer and that are subject to United States federal income tax on such sale (as described above) generally will be taxed on such disposition in the same manner in which a United States Holder would be taxed.
If a Non-United States Holder does not satisfy any of the Section 302 tests explained above, the full amount received by the Non-United States Holder with respect to our purchase of shares of
the Common Stock under the Offer will be treated as a distribution to the Non-United States Holder with respect to the Non-United States Holders shares of the Common Stock. The treatment, for United States federal income tax purposes, of such
distribution as a dividend, a tax-free return of capital, or as a capital gain from the sale of shares of the Common Stock will be determined in the manner described above with respect to the United States federal income tax treatment of a purchase
of shares of the Common Stock pursuant to the Offer in the case of United States Holders (see Consequences of the Offer to United States HoldersCharacterization of the PurchaseDistribution vs.
Sale Treatment.). As described more fully below, to the extent amounts received by a Non-United States Holder are treated as a dividend, such Non-United States Holder will be subject to withholding.
Withholding for Non-United States Holders. Because, as described above, we cannot predict whether any particular shareholder will be subject to sale or
distribution treatment, the Depositary generally will treat the cash received by a Non-United States Holder participating in the Offer as a dividend distribution from the Company. Accordingly, the Depositary generally will withhold United States
federal income tax equal to 30% of the gross proceeds payable to the Non-United States Holder or his or her agent, unless (i) an exemption from, or a reduced rate of, withholding tax is available under a tax treaty or such gross proceeds are
effectively connected with the conduct of a trade or business of the Non-United States Holder within the United States and (ii) the shareholder so certifies on the appropriate IRS Form W-8 as described below. In order to obtain a reduced rate of
withholding under a tax treaty, a Non-United States Holder must deliver to the Depositary before the payment a properly completed and executed IRS Form W-8BEN and/or W-8IMY. In order to obtain an exemption from withholding on the grounds that the
gross proceeds paid under the Offer are effectively connected with the conduct of a trade or business within the United States, a Non-United States Holder must deliver to the Depositary a properly completed and executed IRS Form W-8ECI. If tax is
withheld, a Non-United States Holder may be eligible to obtain a refund of all or a portion of such tax withheld if such Non-United States Holder satisfies one of the Section 302 tests described above or is otherwise able to establish that no
withholding or a reduced amount of withholding is due.
NON-UNITED STATES HOLDERS MAY BE SUBJECT TO INCOME TAX ON THE SALE OF SHARES PURSUANT TO THE OFFER, EVEN IF SUCH HOLDERS WOULD NOT BE SUBJECT TO TAX IF THOSE SAME SHARES OF THE COMMON STOCK
WERE SOLD ON THE OPEN MARKET. IN ADDITION, NON-UNITED STATES HOLDERS MAY BE SUBJECT TO A 30% WITHHOLDING TAX ON THE SALE OF SHARES OF THE COMMON STOCK PURSUANT TO THE OFFER, EVEN IF THE TRANSACTION IS NOT SUBJECT TO INCOME TAX. NON-UNITED STATES
HOLDERS ARE URGED TO CONSULT THEIR TAX ADVISORS REGARDING THE UNITED STATES TAX CONSEQUENCES OF PARTICIPATION IN THE OFFER, INCLUDING THE APPLICATION OF UNITED STATES FEDERAL INCOME TAX WITHHOLDING RULES, ELIGIBILITY FOR A
36
REDUCTION OF OR AN EXEMPTION FROM WITHHOLDING TAX, AND THE REFUND PROCEDURE.
Information Reporting and Backup Withholding. Payments made to holders in the Offer may be reported to the IRS. In addition, under the United States
federal income tax laws, the Depositary will be required to backup withhold at the applicable statutory rate on the purchase price paid to certain shareholders (who are not exempt recipients) pursuant to the Offer. To avoid such backup
withholding, each such United States Holder must provide the Depositary with such shareholders taxpayer identification number and certify that such shareholder is not subject to backup withholding by completing the Substitute Form W-9 in the
Letter of Transmittal, or otherwise establish to the satisfaction of the Depositary that such shareholder is not subject to backup withholding. Certain exempt recipients (including, among others, all corporations and certain Non-United
States Holders) are not subject to these backup withholding requirements. For a Non-United States Holder to qualify for such exemption, such Non-United States Holder must submit an IRS Form W-8BEN (or other applicable IRS Form), signed under
penalties of perjury, attesting to such Non-United States Holders exempt status.
Backup withholding is not an additional tax. Any amounts withheld under the backup withholding rules will be refunded or credited against the shareholders United States federal income tax
liability if certain required information is furnished to the IRS. Shareholders should consult their own tax advisors regarding application of backup withholding in their particular circumstances and the availability of, and procedure for obtaining,
an exemption from backup withholding under current Treasury Regulations.
15. Extension of the Offer; Termination; Amendment.
We expressly reserve the right to extend the period of time the Offer is open and delay acceptance for payment of, and payment for, any shares of Common Stock by giving oral or written notice
of such extension to the Depositary and making a public announcement of such extension. During any such extension, all shares previously tendered and not properly withdrawn will remain subject to the Offer and to the rights of a tendering
shareholder to withdraw such shareholders shares.
We also expressly reserve the right, in our sole discretion, not to accept for payment and not pay for any shares not previously accepted for payment or paid for, subject to applicable law, to
postpone payment for shares or terminate the Offer upon the occurrence of any of the conditions specified in Section 7 by giving oral or written notice of the termination or postponement to the Depositary and making a public announcement of the
termination or postponement. Our reservation of the right to delay payment for shares that we have accepted for payment is limited by Exchange Act Rule 13e-4(f)(3), which requires that we must pay the consideration offered or return the shares
tendered promptly after termination or withdrawal of the Offer.
Subject to compliance with applicable law, we further reserve the right, and regardless of whether any of the events set forth in Section 7 have occurred or are deemed by us to have occurred,
to amend the Offer in any respect (including, without limitation, by decreasing or increasing the consideration offered in the Offer to holders of shares of Common Stock or by decreasing or increasing the number of shares being sought in the Offer).
Amendments to the Offer may be made at any time and from time to time by public announcement of the amendment. In the case of an extension, the amendment shall be issued no later than 9:00 a.m., New York City time, on the next business day after the
last previously scheduled or announced Expiration Date. Any public announcement made pursuant to the Offer will be disseminated promptly to shareholders in a manner reasonably designed to inform shareholders of the change. Without limiting the
manner in which we may choose to make a public announcement, except as required by applicable law, we will have no obligation to publish, advertise or otherwise communicate any public announcement other than by issuing a press release to the Dow
Jones News Service or comparable service.
If we materially change the terms of the Offer or the information concerning the Offer, or if we waive a material condition of the Offer, we will extend the Offer to the extent required by
Exchange Act Rule 13e-4(f)(1)(ii). This rule and related releases and interpretations of the SEC provide that the minimum period during which an Offer must remain open following material changes in the terms of the Offer or information
concerning
37
the Offer (other than a change in price or a change in percentage of securities sought) will depend on the facts and circumstances, including the relative materiality of the terms or information. If:
If we purchase an additional amount of shares of the Common Stock that does not exceed 2% of the outstanding shares of the Common Stock (approximately 1,407,250 shares as of April 19, 2007),
this will not be deemed a material change to the terms of the Offer and we will not be required to amend or extend the Offer. See Section 1. 16. Fees and Expenses.
We have retained Banc of America Securities LLC and Wachovia Capital Markets, LLC to act as the Dealer Managers in connection with the Offer. The Dealer Managers may communicate
with brokers, dealers, commercial banks and trust companies with respect to the Offer. The Dealer Managers will receive a reasonable and customary fee for these services. We also have agreed to reimburse the Dealer Managers for reasonable
out-of-pocket expenses incurred in connection with the Offer, including reasonable fees and expenses of counsel, and to indemnify the Dealer Managers against liabilities in connection with the Offer, including liabilities under the federal
securities laws. The Dealer Managers and their affiliates may actively trade the Companys debt and equity securities for their own accounts and for the accounts of customers and, accordingly, may at any time hold a long or short position in
the Companys securities.
The Dealer Managers and their affiliates may provide, from time to time, investment banking and financial advisory services to the Company and our affiliates. The Dealer Managers and their
affiliates receive customary fees for such services.
We have retained Innisfree
M&A Incorporated to act as Information Agent and American Stock Transfer & Trust
Company, our transfer agent, to act as Depositary in connection with the Offer.
The Information Agent may contact holders of shares by mail, telephone, telegraph
and personal interviews and may request brokers, dealers, commercial banks, trust
companies and other nominee shareholders to forward materials relating to the
Offer to beneficial owners. The Information Agent and the Depositary will each
receive reasonable and customary compensation for their respective services,
will be reimbursed by us for reasonable out-of-pocket expenses and will be indemnified
against certain liabilities in connection with the Offer, including liabilities
under the federal securities laws.
We will not pay any fees or commissions to brokers, dealers, commercial banks, trust companies or other persons (other than fees to the Dealer Managers and the Information Agent as described
above) for soliciting tenders of shares pursuant to the Offer. Shareholders holding shares through brokers or banks are urged to consult the brokers or banks to determine whether transaction costs may apply if shareholders tender shares through the
brokers or banks and not directly to the Depositary. We will, however, upon request, reimburse brokers, dealers, commercial banks, trust companies or other nominees for customary mailing and handling expenses incurred by them in forwarding the Offer
to Purchase, the Letter of Transmittal and related materials to the beneficial owners of shares held by them as a nominee or in a fiduciary capacity. No broker, dealer, commercial bank, trust company or other nominee has been authorized to act as
our agent or the agent of the Dealer Managers, the Information Agent or the Depositary for purposes of the Offer. We will pay or cause to be paid all stock transfer taxes, if any, on our purchase of shares except as otherwise provided in Instruction
7 in the Letter of Transmittal.
38 17. Miscellaneous.
We are not aware of any jurisdiction where the making of the Offer is not in compliance with applicable law. If we become aware of any jurisdiction where the making of the Offer or the
acceptance of shares pursuant to the Offer is not in compliance with any applicable law, we will make a good faith effort to comply with the applicable law. If, after a good faith effort, we cannot comply with the applicable law, the Offer will not
be made to, nor will tenders be accepted from or on behalf of, the holders of shares residing in that jurisdiction. In any jurisdiction where the securities, blue sky or other laws require the Offer to be made by a licensed broker or
dealer, the Offer will be deemed to be made on our behalf by the Dealer Managers or one or more registered brokers or dealers licensed under the laws of the jurisdiction.
Pursuant to Exchange Act Rule 13e-4, we have filed with the SEC the Schedule TO, which contains additional information relating to the Offer. The Schedule TO, including the exhibits and any
amendments thereto, may be examined, and copies may be obtained, at the same places and in the same manner set forth in Section 10 with respect to information concerning our company.
YOU SHOULD RELY ONLY ON THE INFORMATION CONTAINED IN THIS DOCUMENT OR TO WHICH WE HAVE REFERRED YOU. WE HAVE NOT AUTHORIZED ANY PERSON TO MAKE ANY RECOMMENDATION ON OUR BEHALF AS TO WHETHER
YOU SHOULD TENDER OR NOT TENDER YOUR SHARES IN THE OFFER. WE HAVE NOT AUTHORIZED ANY PERSON TO GIVE ANY INFORMATION OR TO MAKE ANY REPRESENTATION IN CONNECTION WITH THE OFFER OTHER THAN THOSE CONTAINED IN THIS OFFER TO PURCHASE OR IN THE LETTER OF
TRANSMITTAL. ANY RECOMMENDATION OR ANY SUCH INFORMATION OR REPRESENTATION MADE BY ANYONE ELSE MUST NOT BE RELIED UPON AS HAVING BEEN AUTHORIZED BY THE COMPANY, THE DEALER MANAGERS, THE DEPOSITARY OR THE INFORMATION AGENT. PREMIERE GLOBAL SERVICES, INC. April 23, 2007
39
The Letter of Transmittal and certificates for shares, and any other required documents should be sent or delivered by each shareholder or the shareholders broker, dealer, commercial
bank, trust company or nominee to the Depositary at one of its addresses set forth below. To confirm delivery of shares, shareholders are directed to contact the Depositary. Shareholders submitting certificates representing shares to be tendered
must deliver such certificates together with the Letter of Transmittal and any other required documents by mail or overnight courier. Facsimile copies of share certificates will not be accepted. The Depositary for the Offer is:
By Mail or Overnight Courier: American Stock Transfer & Trust Company By Hand: American Stock Transfer & Trust Company
Telephone confirm number: (877)-248-6417 or (718)-921-8317
Any questions or requests for assistance may be directed to the Information Agent or the Dealer Managers at their respective telephone numbers and addresses set forth below. Requests for
additional copies of this Offer to Purchase, the Letter of Transmittal or related documents may be directed to the Information Agent at its telephone numbers or address set forth below. You may also contact your broker, dealer, commercial bank,
trust company or other nominee for assistance concerning the Offer.
The Information Agent for the Offer is: The Dealer Managers for the Offer are: Banc of America Securities LLC Wachovia Securities
40 Exhibit (a)(1)(ii) LETTER OF TRANSMITTAL For Tender of Shares of Common Stock of PREMIERE GLOBAL SERVICES, INC. at a Price of $12.65 per share THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS EXPIRE AT 5:00
P.M., NEW YORK CITY TIME, ON
MONDAY,
MAY 21, 2007, UNLESS THE OFFER IS EXTENDED. DELIVERY OF THIS LETTER OF TRANSMITTAL OR OTHER DOCUMENTS TO AN
ADDRESS OTHER THAN AS SET FORTH BELOW DOES NOT CONSTITUTE VALID DELIVERY. The
instructions in this Letter of Transmittal should be read carefully before this
Letter of Transmittal is completed. The Depositary for the Offer is: By Mail or
Overnight Courier: By Hand: American Stock Transfer & Trust Company American Stock Transfer & Trust Company Operations Center Attn: Reorganization Department Attn: Reorganization Department 59 Maiden Lane 6201 15th Avenue New York, NY 10038 Brooklyn, NY 11219 DESCRIPTION OF SHARES TENDERED Name(s) and Address(es) of Holder(s) Shares Tendered Certificate Total Number of Number of Total Shares ** Unless otherwise indicated,
it will be assumed that all shares represented by each certificate are being
tendered. See Instruction 4. THIS LETTER OF TRANSMITTAL MAY NOT BE USED TO
TENDER SHARES HELD IN THE PREMIERE GLOBAL SERVICES, INC. 401(K) PLAN. INSTEAD,
YOU MUST USE THE SEPARATE TENDER INSTRUCTION FORM SENT TO PARTICIPANTS IN
THAT PLAN. READ THE INSTRUCTIONS CAREFULLY BEFORE
COMPLETING THIS LETTER OF TRANSMITTAL. If you desire
to tender shares in the tender offer, but you cannot deliver your shares and
all other required documents to the Depositary by the expiration date (as
defined in the Offer to Purchase) or cannot comply with the procedures for
book-entry transfer on a timely basis, you must tender your shares pursuant to
the guaranteed delivery procedure set forth in Section 3 of the Offer to
Purchase. See Instruction 2. Additional Information If Shares Have Been
Lost, Are Being Delivered By Book-Entry Transfer Or Are Being Delivered
Pursuant To A Previous Notice Of Guaranteed Delivery o Check here if tendered shares are being delivered pursuant to a
Notice of Guaranteed Delivery previously sent to the Depositary and complete
the following: Name(s) of
Tendering Stockholder(s) Date of
Execution of Notice of Guaranteed Delivery Name of
Institution which Guaranteed Delivery Indicate below
the order (by certificate number) in which shares are to be purchased in the
event of proration (attach additional signed list if necessary). If you do not
designate an order, if less than all shares tendered are purchased due to
proration, shares will be selected for purchase by the Depositary. See
Instruction 15. 1st 2nd: 3rd: 4th: 5th: o Lost Certificates. I have lost my
certificate(s) for _________ shares and require assistance in replacing the
shares. (See Instruction 12). o Check here if tendered shares are being delivered by book-entry
transfer made to an account maintained by the Depositary with the Book-Entry
Transfer Facility and complete the following (only financial institutions
that are participants in the system of any Book-Entry Transfer Facility may
deliver shares by book-entry transfer): Name of
Tendering Institution Account No. Transaction
Code No. NOTE: SIGNATURES MUST BE PROVIDED BELOW PLEASE READ THE ACCOMPANYING INSTRUCTIONS
CAREFULLY YOU MUST SIGN THIS LETTER OF TRANSMITTAL
WHERE INDICATED BELOW AND COMPLETE THE SUBSTITUTE FORM W-9 PROVIDED BELOW OR
APPROPRIATE INTERNAL REVENUE SERVICE FORM W-8. This Letter of
Transmittal is to be used either if certificates for shares of the common
stock, par value $0.01 per share (the Common Stock), being tendered are to be
forwarded with this Letter of Transmittal or, unless an Agents Message
(defined below) is utilized, if delivery of shares is to be made by book-entry
transfer to an account maintained by the Depositary at The Depository Trust
Company, which is referred to as the Book-Entry Transfer Facility, pursuant to
the procedures set forth in Section 3 of the Offer to Purchase dated April 23,
2007 (as may be amended or supplemented from time to time, the Offer to
Purchase). Tendering shareholders must deliver either the certificates for, or
timely confirmation of book-entry transfer in accordance with the procedures
described in Section 3 of the Offer to Purchase with respect to, their shares
and all other documents required by this Letter of Transmittal to the
Depositary by 5:00 p.m., New York City time, on Monday, May 21, 2007 (as this time may
be extended at any time or from time to time by Premiere Global Services, Inc.
(Purchaser), in Purchasers sole discretion in accordance with the terms of
the Offer, the Expiration Date). All capitalized terms not otherwise defined
herein have the meaning ascribed to them in the Offer to Purchase. If you want to
retain the shares of Common Stock you own, you do not need to take any action. DELIVERY OF DOCUMENTS TO THE BOOK-ENTRY
TRANSFER FACILITY DOES NOT CONSTITUTE DELIVER TO THE DEPOSITORY. METHOD OF DELIVERY o CHECK HERE
IF CERTIFICATES FOR TENDERED SHARES ARE ENCLOSED HEREWITH. o CHECK HERE
IF TENDERED SHARES ARE BEING DELIVERED BY BOOK-ENTRY TRANSFER MADE TO AN ACCOUNT
MAINTAINED BY THE DEPOSITARY WITH THE BOOK-ENTRY TRANSFER FACILITY AND
COMPLETE THE FOLLOWING (ONLY PARTICIPANTS IN THE BOOK-ENTRY TRANSFER FACILITY
MAY DELIVER SHARES BY BOOK-ENTRY TRANSFER): Name of
Tendering Institution: Account
Number: Transaction
Code Number: CONDITIONAL TENDER A shareholder
may tender shares subject to the condition that a specified minimum number of
the shareholders shares tendered pursuant to the Letter of Transmittal must be
purchased if any shares tendered are purchased, all as described in the Offer
to Purchase, particularly in Section 6 of the Offer to Purchase. Unless at
least the minimum number of shares indicated below is purchased by Purchaser
pursuant to the terms of the Offer, none of the shares tendered will be
purchased. It is the tendering shareholders responsibility to calculate the
minimum number of shares that must be purchased if any are purchased. Purchaser
urges shareholders to consult their own tax advisors before completing this
section. Unless this box has been checked and a minimum specified, the tender
will be deemed unconditional. o The minimum
number of shares that must be purchased, if any are purchased, is:
__________shares. If, because of
proration, the minimum number of shares designated will not be purchased,
Purchaser may accept conditional tenders by random lot, if necessary. However,
to be eligible for purchase by random lot, the tendering shareholder must have
tendered all of his or her shares and checked this box: o The tendered
shares represent all shares held by the undersigned. ODD LOTS To be completed
ONLY if shares are being tendered by or on behalf of a person owning,
beneficially or of record, as of the close of business on the date set forth on
the signature page hereto, and who continues to own, beneficially or of record,
as of the Expiration Date, an aggregate of fewer than 100 shares. The
undersigned either (check one box): o is the
beneficial or record owner of an aggregate of fewer than 100 shares, all of
which are being tendered; or o is a broker,
dealer, commercial bank, trust company, or other nominee that (a) is
tendering for the beneficial owner(s), shares with respect to which it is the
record holder, and (b) believes, based upon representations made to it by the
beneficial owner(s), that each such person is the beneficial owner of an
aggregate of fewer than 100 shares and is tendering all of the shares
beneficially owned by each such person. LOST OR DESTROYED CERTIFICATE(S) IF ANY STOCK
CERTIFICATE REPRESENTING SHARES THAT YOU OWN HAS BEEN LOST, STOLEN OR
DESTROYED, PLEASE CONTACT THE DEPOSITARY TOLL FREE AT (877) 248-6417 OR (718)
921-8317 PROMPTLY TO OBTAIN INSTRUCTIONS AS TO THE STEPS THAT MUST BE TAKEN IN
ORDER TO REPLACE THE CERTIFICATE. THIS LETTER OF TRANSMITTAL AND RELATED
DOCUMENTS CANNOT BE PROCESSED UNTIL THE PROCEDURES FOR REPLACING LOST OR
DESTROYED CERTIFICATES HAVE BEEN FOLLOWED. PLEASE CONTACT THE DEPOSITARY
IMMEDIATELY TO PERMIT TIMELY PROCESSING OF THE REPLACEMENT DOCUMENTATION. SEE
INSTRUCTION 12. NOTE: SIGNATURES MUST BE PROVIDED WHERE
INDICATED BELOW. PLEASE READ THE ACCOMPANYING INSTRUCTIONS
CAREFULLY. To American Stock Transfer & Trust Company: The
undersigned hereby tenders to Premiere Global Services, Inc., a Georgia
corporation (Purchaser), the above-described shares of
Purchasers common stock, par value $0.01 per share (the
Common Stock), pursuant to the Purchasers offer to purchase up to 11,857,707
shares of Common Stock at a price of $12.65 per share, net to the seller in cash, less any
applicable withholding taxes and without interest, upon the terms and subject
to the conditions set forth in Purchasers Offer to Purchase dated April 23,
2007 (as amended or supplemented from time to time, the Offer to Purchase)
and this Letter of Transmittal (which together, as they may be amended or
supplemented from time to time, constitute the Offer), receipt of which is
hereby acknowledged. Subject
to and effective upon acceptance for payment of, and payment for, the Shares in
accordance with, and subject to, the terms of the Offer, the undersigned hereby
sells, assigns and transfers to, or upon the order of, Purchaser all right,
title and interest in and to all the Shares and irrevocably constitutes and
appoints American Stock Transfer & Trust Company (the Depositary), the
true and lawful agent and attorney-in-fact of the undersigned, with full power
of substitution (such power of attorney being deemed to be an irrevocable power
coupled with an interest), to the full extent of the undersigneds rights with
respect to such Shares, to (a) deliver certificates for such Shares or transfer
ownership of such Shares on the account books maintained by The Depository
Trust Company (the Book-Entry Transfer Facility), together, in any such case,
with all accompanying evidences of transfer and authenticity to, or upon the
order of Purchaser upon receipt by the Depositary, as the undersigneds agent,
of the aggregate purchase price with respect to such Shares, (b) present such
Shares for cancellation and transfer on Purchasers books and (c) receive all
benefits and otherwise exercise all rights of beneficial ownership of such
Shares, all in accordance with the terms of the Offer. The
undersigned hereby certifies that the undersigned has complied with all the
requirements stated in the instructions herein and represents and warrants that
the undersigned has full power and authority to tender, sell, assign and
transfer the Shares and, when the same are accepted for payment, Purchaser will
acquire good title thereto, free and clear of all liens, security interests,
restrictions, charges, claims, encumbrances, conditional sales agreements or
other similar obligations relating to the sale or transfer of the Shares, and
the shares will not be subject to any adverse claim or right. The undersigned
will, upon request by the Depositary or Purchaser, execute any additional
documents deemed by the Depositary or Purchaser to be necessary or desirable to
complete the sale, assignment and transfer of the Shares (and any and all such
other shares or other securities or rights), all in accordance with the terms
of the Offer. The
undersigned authorizes Purchaser to withhold all applicable taxes and
tax-related items legally payable by the undersigned. All
authority conferred or agreed to be conferred pursuant to this Letter of
Transmittal shall be binding on the successors, assigns, heirs, personal
representatives, executors, administrators and other legal representatives of
the undersigned and shall not be affected by, and shall survive, the death or
incapacity of the undersigned. This tender may only be withdrawn pursuant to
the terms of the Offer. The
undersigned understands that: 1. the valid
tender of Shares pursuant to any of the procedures described in Section 3 of
the Offer to Purchase and in the instructions to this Letter of Transmittal
constitutes the undersigneds acceptance of the terms and conditions of the
Offer; Purchasers acceptance of the Shares will constitute a binding
agreement between the undersigned and Purchaser on the terms and subject to
the conditions of the Offer; 2. it is a
violation of Rule 14e-4 promulgated under the Securities Exchange Act of
1934, as amended (Exchange Act), for a person acting alone or in concert
with others, directly or indirectly, to tender shares for such persons own
account unless at the time of tender and at 5:00 p.m., New York City time, on May 21,
2007 (as this time may be extended at any time or from time to time by
Purchaser in Purchasers sole discretion in accordance with the terms of the
Offer the Expiration Date) such person has a net long position in (a) the shares that is
equal to or greater than the amount tendered and will deliver or cause to be
delivered such shares for the purpose of tender to Purchaser within the
period specified in the Offer, or (b) other securities immediately
convertible into, exercisable for or exchangeable into shares (Equivalent
Securities) that is equal to or greater than the amount tendered and, upon
the acceptance of such tender, will acquire such shares by conversion,
exchange or exercise of such Equivalent Securities to the extent required by
the terms of the Offer and will deliver or cause to be delivered such shares
so acquired for the purpose of tender to Purchaser within the period
specified in the Offer. Exchange Act Rule 14e-4 also provides a similar
restriction applicable to the tender or guarantee of a tender on behalf of
another person. A tender of shares made pursuant to any method of delivery
set forth in this Letter of Transmittal will constitute the tendering
shareholders representation and warranty to Purchaser that (y) such
shareholder has a net long position in shares or Equivalent Securities
being tendered within the meaning of Rule 14e-4, and (z) such tender of
shares complies with Rule 14e-4. Purchasers acceptance for payment of shares
tendered pursuant to the Offer will constitute a binding agreement between
the tendering shareholder and Purchaser upon the terms and subject to the
conditions of the Offer; 3. upon the
terms and subject to the conditions of the Offer to Purchase, the Purchaser
will pay $12.65 per share for shares validly tendered and not withdrawn
pursuant to the Offer to Purchase, taking into account the number of shares
so tendered; 4. Purchaser
reserves the right, in its sole discretion, to purchase more than 11,857,707
shares in the Offer, and/or to amend the maximum aggregate purchase price, or
to amend the Offer in any other respect, subject to applicable law; 5. all shares
properly tendered prior to the Expiration Date and not properly withdrawn
will be purchased in the Offer, upon the terms and subject to the conditions
of the Offer, including the odd lot priority, proration (because more than
the number of shares sought are properly tendered) and conditional tender
provisions described in the Offer to Purchase; 6. Purchaser
will return at its expense all shares it does not purchase and not properly
withdrawn and shares not purchased because of proration or conditional
tenders, promptly following the Expiration Date; 7. under the
circumstances set forth in the Offer to Purchase, Purchaser expressly
reserves the right, in its sole discretion, to terminate the Offer at any
time and from time to time, upon the occurrence of any of the events set
forth in Section 7 of the Offer to Purchase, and at any time and from time to
time, subject to applicable law, to extend the period of time during which
the Offer is open and thereby delay acceptance for payment of, and payment
for, any shares by giving oral or written notice of such extension to the
Depositary and making a public announcement thereof. During any such
extension, all shares previously tendered and not properly withdrawn will
remain subject to the Offer and to the rights of a tendering shareholder to
withdraw such shareholders shares; 8. shareholders
who cannot deliver their certificates and all other required documents to the
Depositary or complete the procedures for book-entry transfer prior to the
Expiration Date of the Offer may tender their shares by properly completing
and duly executing the Notice of Guaranteed Delivery pursuant to the
guaranteed delivery procedures set forth in Section 3 of the Offer to
Purchase; 9. Purchaser
has advised the undersigned to consult with the undersigneds own tax and
financial advisors as to the consequences of tendering shares pursuant to the
Offer; and 10. THE OFFER IS NOT BEING MADE TO (NOR WILL TENDERS OF SHARES BE
ACCEPTED FROM OR ON BEHALF OF) HOLDERS IN ANY JURISDICTION IN WHICH THE
MAKING OR ACCEPTANCE OF THE OFFER WOULD NOT BE IN COMPLIANCE WITH THE LAWS OF
THAT JURISDICTION. The
undersigned hereby agrees to all of the terms and conditions of the Offer. Unless
otherwise indicated below in the section captioned Special Issuance
Instructions, please issue the check for payment of the purchase price and/or
return any certificates for shares not tendered or accepted for payment in the
name(s) of the registered holder(s) appearing under Description of Shares
Tendered. Similarly, unless otherwise indicated under Special Delivery
Instructions, please mail the check for payment of the purchase price and/or
return any certificates for shares not tendered or accepted for payment (and
accompanying documents, as appropriate) to the address(es) of the registered
holder(s) appearing under Description of Shares Tendered. In the event that
both the Special Delivery Instructions and the Special Payment Instructions
are completed, please issue the check for payment of the purchase price and/or
return any certificates for shares not tendered or accepted for payment (and
any accompanying documents, as appropriate) in the name(s) of, and deliver such
check and/or return such certificates (and any accompanying documents, as
appropriate) to, the person or persons so indicated. Please credit any shares
tendered herewith by book-entry transfer that are not accepted for payment by
crediting the account at the Book-Entry Transfer Facility designated above.
Appropriate medallion signature guarantees by an Eligible Institution (as
defined in Instruction 1) have been included with respect to Shares for which
Special Issuance Instructions have been given. The undersigned recognizes that
Purchaser has no obligation pursuant to the Special Payment Instructions to transfer
any shares from the name of the registered holder(s) thereof if Purchaser does
not accept for payment any of the Shares. SPECIAL ISSUANCE INSTRUCTIONS SPECIAL PAYMENT INSTRUCTIONS To be
completed ONLY if certificates for
shares not tendered or not accepted for payment and/or the check for payment of
the purchase price of shares accepted for payment are to be issued in the name
of someone other than the undersigned, or if shares tendered hereby and
delivered by book-entry transfer which are not purchased are to be returned by
crediting them to an account at the book-entry transfer facility other than the
account designated above. Issue: o
Check o
Certificate(s) to: Name(s): (Please Print) Address: (Include Zip Code) (Taxpayer Identification or Social Security Number) o Credit
shares delivered by book-entry transfer and not purchased to the account set
forth below: (Account Number) SPECIAL DELIVERY INSTRUCTIONS To be
completed ONLY if certificates for shares not tendered or not accepted for
payment and/or the check for payment of the purchase price of shares accepted
for payment are to be sent to someone other than the undersigned or to the
undersigned at an address other than that above. Issue: o
Check o
Certificate(s) to: Name(s): (Please Print) Address: (Include Zip Code) (Taxpayer Identification or Social Security Number) IMPORTANT: SHAREHOLDERS SIGN HERE X X Signature
of Shareholder(s) Dated: 2007 (Must be
signed by registered holder(s) exactly as name(s) appear(s) on stock
certificate(s) or by person(s) authorized to become registered holder(s) of
stock certificate(s) as evidenced by endorsement or stock powers transmitted
herewith. If signed by a trustee, executor, administrator, guardian,
attorney-in-fact, officer of a corporation or other person acting in a fiduciary
or representative capacity, the full title of the person should be set forth.
See Instruction 6). Name(s): (Please
Print) Capacity
(Full Title): Address: (Include
Zip Code) Daytime Area
Code and Telephone Number: Taxpayer
Identification or Social Security No.: (Complete Accompanying Substitute Form W-9
or Appropriate Internal Revenue Service Form W-8) Complete ONLY if required by Instruction l. Your signature must be medallion
guaranteed by an Eligible Institution (see Instruction 1). NOTE: A notarization by a notary public is not acceptable. FOR USE BY FINANCIAL INSTITUTION ONLY. INSTRUCTIONS Forming Part of the Terms and Conditions of
the Offer IF
YOU PARTICIPATE IN THE PREMIERE GLOBAL SERVICES, INC. 401(K) PLAN YOU MUST NOT
USE THIS LETTER OF TRANSMITTAL TO DIRECT THE TENDER OF THE SHARES ATTRIBUTABLE
TO YOUR ACCOUNT. INSTEAD, YOU MUST USE THE SEPARATE DIRECTION FORM
SENT TO PARTICIPANTS IN THE 401(K) PLAN. IF YOU PARTICIPATE IN THE 401(K) PLAN
YOU SHOULD READ THE SEPARATE DIRECTION FORM AND RELATED MATERIALS
CAREFULLY. 1.
Guarantee of Signatures. No
signature guarantee is required on this Letter of Transmittal if (a) this
Letter of Transmittal is signed by the registered holder(s) (which term, for
purposes of this Instruction 1, includes any participant in the Book-Entry
Transfer Facilitys system whose name appears on a security position listing as
the owner of the shares) of shares tendered herewith, unless such registered
holder(s) has (have) completed the section captioned Special Issuance
Instructions on this Letter of Transmittal) or (b) such shares are tendered
for the account of a bank, broker, dealer, credit union, savings association or
other entity that is a member in good standing of Medallion Program approved by
the Securities Transfer Agents Association, Inc., including the Securities
Transfer Agents Medallion Program, the New York Stock Exchange, Inc. Medallion
Signature Program or the Stock Exchange Medallion Program, or is otherwise an
eligible guarantor institution, as the term is defined in Exchange Act Rule
17Ad-15, each of the foregoing constituting an Eligible Institution. In all
other cases, all signatures on this Letter of Transmittal must be guaranteed by
an Eligible Institution. See Instruction 6. If you have any questions regarding
the need for a signature guarantee, please call the Information Agent toll free at
888-750-5834. 2.
Requirements of Tender. This
Letter of Transmittal is to be completed by shareholders either if certificates
are to be forwarded herewith or, unless an Agents Message is utilized, if
delivery of shares is to be made pursuant to the procedures for book-entry
transfer set forth in Section 3 of the Offer to Purchase. For a shareholder
validly to tender shares pursuant to the Offer, (a) a Letter of Transmittal,
properly completed and duly executed, and the certificate(s) representing the
tendered shares, together with any required signature guarantees, and any other
required documents, must be received by the Depositary at one of its addresses
set forth on the back of this Letter of Transmittal prior to the Expiration
Date, or (b) a Letter of Transmittal, properly completed and duly executed,
together with any required Agents Message and any other required documents,
must be received by the Depositary at one of its addresses set forth on the
back of this Letter of Transmittal prior to the Expiration Date and shares must
be delivered pursuant to the procedures for book-entry transfer set forth in
this Letter of Transmittal (and a book-entry confirmation must be received by
the Depositary) prior to the Expiration Date. Tenders
of shares made pursuant to the Offer may be withdrawn at any time prior to the
Expiration Date. If Purchaser extends the Offer beyond that time, tendered
shares may be withdrawn at any time until the extended expiration of the Offer.
Tendered shares that have not previously been accepted by Purchaser for payment
may be withdrawn at any time after forty (40) business days from the date hereof. To withdraw tendered shares, shareholders must deliver a written notice
of withdrawal to the Depositary within the prescribed time period at one of the
addresses set forth in this Letter of Transmittal. Any notice of withdrawal
must specify the name of the tendering shareholder, the number of shares to be
withdrawn, and the name of the registered holder of the shares. In addition, if
the certificates for shares to be withdrawn have been delivered or otherwise
identified to the Depositary, then, before the release of the certificates, the
tendering shareholder must also submit the serial numbers shown on the
particular certificates for shares to be withdrawn and the signature(s) on the
notice of withdrawal must be guaranteed by an Eligible Institution (except in
the case of shares tendered by an Eligible Institution). If shares have been
tendered pursuant to the procedures for book-entry transfer, the notice of
withdrawal also must specify the name and the number of the account at the
Book-Entry Transfer Facility to be credited with the withdrawn shares and
otherwise comply with the procedures of that facility. Withdrawals may not be
rescinded and any shares withdrawn will not be properly tendered for purposes
of the Offer unless the withdrawn shares are properly re-tendered prior to the
Expiration Date by following the procedures described above. THE METHOD OF DELIVERY OF SHARES, THIS LETTER OF
TRANSMITTAL AND ANY OTHER REQUIRED DOCUMENTS, INCLUDING DELIVERY THROUGH THE
BOOK-ENTRY TRANSFER FACILITY, IS AT THE SOLE ELECTION AND RISK OF THE TENDERING
SHAREHOLDER. SHARES, THIS LETTER OF TRANSMITTAL AND ALL OTHER DOCUMENTS WILL BE
DEEMED DELIVERED ONLY WHEN ACTUALLY RECEIVED BY THE DEPOSITARY (INCLUDING, IN
THE CASE OF A BOOK-ENTRY TRANSFER, BY BOOK-ENTRY CONFIRMATION). IF YOU ELECT TO
DELIVER BY MAIL, WE RECOMMEND THAT YOU USE REGISTERED MAIL WITH RETURN RECEIPT
REQUESTED, AND THAT YOU PROPERLY INSURE THE DOCUMENTS. IN ALL CASES, YOU SHOULD
ALLOW SUFFICIENT TIME TO ENSURE TIMELY DELIVERY. Except
as specifically provided by the Offer to Purchase, no alternative, conditional
or contingent tenders will be accepted. No fractional shares will be purchased.
All tendering shareholders, by execution of this Letter of Transmittal, waive
any right to receive any notice of the acceptance for payment of their shares. 3.
Inadequate Space. If the space
provided in this Letter of Transmittal is inadequate, the certificate numbers
and/or the number of shares should be listed on a separate signed schedule
attached hereto. 4.
Partial Tenders (Not Applicable to
Shareholders Who Tender by Book-Entry Transfer). If fewer than all
of the shares represented by any certificate submitted to the Depositary are to
be tendered, fill in the number of shares that are to be tendered in the box
entitled Number of Shares Tendered. In any such case, new certificate(s) for
the remainder of the shares that were evidenced by the old certificate(s) will
be sent to the registered holder(s), unless otherwise provided in the
appropriate box on this Letter of Transmittal, as soon as practicable after the
acceptance for payment of, and payment for, the shares tendered herewith. All
shares represented by certificates delivered to the Depositary will be deemed
to have been tendered unless otherwise indicated. 5.
Signatures on Letter of Transmittal, Stock
Powers and Endorsements. If this Letter of Transmittal is signed by
the registered holder(s) of the shares tendered hereby, the signature(s) must
correspond with the name(s) as written on the face of the certificate(s)
without any change or alteration whatsoever. If
any of the shares tendered hereby are owned of record by two or more joint
owners, all such persons must sign this Letter of Transmittal. If
any shares tendered hereby are registered in different names on several
certificates, it will be necessary to complete, sign and submit as many
separate Letters of Transmittal as there are different registrations of
certificates. If
this Letter of Transmittal or any certificate or stock power is signed by a
trustee, executor, administrator, guardian, attorney-in-fact, officer of a
corporation or other person acting in a fiduciary or representative capacity,
he or she should so indicate when signing and submit proper evidence
satisfactory to Purchaser of his or her authority to so act. If
this Letter of Transmittal is signed by the registered owner(s) of the shares
tendered hereby, no endorsements of certificates or separate stock powers are
required unless payment of the purchase price is to be made, or certificates
for shares not tendered or accepted for payment are to be issued, to a person
other than the registered owner(s). Signatures on any such certificates or
stock powers must be guaranteed by an Eligible Institution. If
this Letter of Transmittal is signed by a person other than the registered
owner(s) of the shares tendered hereby, the certificate(s) representing such
shares must be properly endorsed for transfer or accompanied by appropriate
stock powers, in either case signed exactly as the name(s) of the registered
owner(s) appear(s) on the certificates(s). The signature(s) on any such
certificate(s) or stock power(s) must be guaranteed by an Eligible Institution. 6.
Stock Transfer Taxes. Purchaser
will pay any stock transfer taxes with respect to the transfer and sale of
shares to it pursuant to the Offer. If, however, payment of the purchase price
is to be made to, or if shares not tendered or accepted for payment are to be
registered in the name of, any person(s) other than the registered owner(s), or
if shares tendered hereby are registered in the name(s) of any person(s) other
than the person(s) signing this Letter of Transmittal, the amount of any stock
transfer taxes (whether imposed on the registered owner(s) or
such person(s)) payable on account of the transfer to such person(s) will be
deducted from the purchase price unless satisfactory evidence of the payment of
such taxes or exemption from the payment of such taxes is submitted with this
Letter of Transmittal. Except
as provided in this Instruction 6, it will not be necessary for transfer tax
stamps to be affixed to the certificates listed in this Letter of Transmittal. 7.
Special Payment and Delivery Instructions. If
a check for the purchase price of any shares accepted for payment is to be
issued in the name of, and/or certificates for any shares not accepted for
payment or not tendered are to be issued in the name of and/or returned to, a
person other than the signer of this Letter of Transmittal or if a check is to
be sent, and/or such certificates are to be returned, to a person other than
the signer of this Letter of Transmittal or to an address other than that shown
above, the appropriate boxes on this Letter of Transmittal should be completed. 8.
Waiver of Conditions; Irregularities. All
questions as to the number of shares to be accepted, the purchase price to be
paid for shares to be accepted, the validity, form, eligibility (including time
of receipt) and acceptance for payment of any tender of shares and the validity
(including time of receipt) and form of any notice of withdrawal of tendered
shares will be determined by Purchaser, in its sole discretion, and such
determination will be final and binding on all parties. Purchaser may delegate
power in whole or in part to the Depositary. Purchaser reserves the absolute
right to reject any or all tenders of any shares that Purchaser determines are
not in proper form or the acceptance for payment of or payment for which may,
in the opinion of Purchasers counsel, be unlawful. Purchaser reserves the
absolute right to reject any notices of withdrawal that it determines are not
in proper form. Purchaser also reserves the absolute right, subject to the
applicable rules and regulations of the Securities and Exchange Commission, to
waive any of the conditions of the Offer on or prior to the Expiration Date, or
any defect or irregularity in any tender or withdrawal with respect to any
particular shares or any particular shareholder (whether or not Purchaser
waives similar defects or irregularities in the case of other shareholders),
and Purchasers interpretation of the terms of the Offer (including these
instructions) will be final and binding on all parties. In the event a condition
is waived with respect to any particular shareholder, the same condition will
be waived with respect to all shareholders. No tender or withdrawal of shares
will be deemed to have been properly made until all defects or irregularities
have been cured by the tendering or withdrawing shareholder or waived by
Purchaser. Purchaser will not be liable for failure to waive any condition of
the Offer, or any defect or irregularity in any tender or withdrawal of shares.
Unless waived, any defects or irregularities in connection with tenders or
withdrawals must be cured within the period of time Purchaser determines. None of Purchaser, the Dealer Managers, the
Information Agent, the Depositary or any other person will be obligated to give
notice of any defects or irregularities in any tender or withdrawal, nor will
any of the foregoing incur any liability for failure to give any such
notification. 9.
Backup Withholding. In order to
avoid backup withholding of U.S. federal income tax on payments of cash pursuant
to the Offer, a shareholder surrendering shares in the Offer must, unless an
exemption applies, provide the Depositary with such shareholders correct
taxpayer identification number (TIN) (i.e.,
social security number or employer identification number) on Substitute Form
W-9 included below in this Letter of Transmittal and certify under penalties of
perjury that such TIN is correct and that the shareholder is not subject to
backup withholding. If a shareholder does not provide a correct TIN or fails to
provide the certifications described above, the Internal Revenue Service (the
IRS) may impose a $50 penalty on such shareholder and payment of cash to such
shareholder pursuant to the Offer may be subject to backup withholding at the
applicable statutory rate (currently 28%). Backup
withholding is not an additional income tax. Rather, the amount of the backup
withholding can be credited against the U.S. federal income tax liability of
the person subject to the backup withholding, provided that the required
information is given to the IRS. If backup withholding results in an
overpayment of tax, a refund can be obtained by the shareholder upon filing an
income tax return. A
tendering shareholder is required to give the Depositary the TIN of the record
owner of the shares being tendered. If the shares are held in more than one
name or are not in the name of the actual owner, consult the enclosed
Guidelines for Certification of Taxpayer Identification Number on Substitute
Form W-9 for additional guidance on which number to report. The
box in part 3 of the Substitute Form W-9 may be checked if the tendering
shareholder has not been issued a TIN and has applied for a TIN or intends to
apply for a TIN in the near future. If the box in part 3 is checked, the
shareholder or other payee must also complete the Certificate of Awaiting
Taxpayer Identification Number below in order to avoid backup withholding.
Notwithstanding that the box in part 3 is checked and the Certificate of Awaiting
Taxpayer Identification Number is completed, the Depositary will withhold the
applicable statutory rate (currently 28%) on all payments made prior to the
time a properly certified TIN is provided to the Depositary. Some
shareholders (including, among others, all corporations and certain foreign
individuals and entities) are not subject to backup withholding. Foreign
shareholders should complete and sign the main signature form and the
appropriate Form W-8BEN, Certificate of Foreign Status, a copy of which may be
obtained from the Depositary, or other applicable IRS Form, in order to avoid
backup withholding. See the enclosed Guidelines for Certification of Taxpayer
Identification Number on Substitute Form W-9 for more instructions. 10.
Withholding on Non-United States Holder. Even
if a Non-United States Holder (as defined below) has provided the required
certification to avoid backup withholding, the Depositary will withhold U.S.
federal income taxes equal to 30% of the gross payments payable to a Non-United
States Holder or such holders agent unless the Depositary determines that a
reduced rate of withholding is available pursuant to a tax treaty or that an
exemption from withholding is applicable because such gross proceeds are effectively
connected with the Non-United States Holders conduct of a trade or business
within the United States. See
Section 14 of the Offer to Purchase. In order to obtain a reduced rate of
withholding pursuant to a tax treaty, a Non-United States Holder must deliver
to the Depositary before the payment a properly completed and executed IRS Form
W-8BEN (or other applicable IRS Form). In order to obtain an exemption from
withholding on the grounds that the gross proceeds paid pursuant to the Offer
are effectively connected with the conduct of a trade or business within the
United States, a Non-United States Holder must deliver to the Depositary a
properly completed and executed IRS Form W-8ECI. A Non-United States Holder may
be eligible to obtain a refund of all or a portion of any tax withheld if such
Non-United States Holder meets those tests described in Section 13 of the Offer
to Purchase that would characterize the exchange as a sale (as opposed to a
dividend) or is otherwise able to establish that no tax or a reduced amount of
tax is due. For
the purposes of this Instruction 10, a Non-United States Holder is any
shareholder that for U.S. federal income tax purposes is not (i) a citizen or
resident of the United States, (ii) a corporation or partnership created or
organized in or under the laws of the United States or any State or division
thereof (including the District of Columbia), (iii) an estate the income of
which is subject to United States federal income taxation regardless of the
source of such income, or (iv) a trust (a) if a court within the United States
is able to exercise primary supervision over the administration of the trust
and (b) one or more U.S. persons have the authority to control all of the
substantial decisions of the trust, or certain trusts considered U.S. persons
for federal income tax purposes. NON-UNITED
STATES HOLDERS MAY BE SUBJECT TO UNITED STATES WITHHOLDING TAX AT A 30% RATE ON
THE SALE OF SHARES PURSUANT TO THE OFFER, EVEN IF NO SUCH WITHHOLDING WOULD
APPLY IF THOSE SAME SHARES WERE SOLD ON THE OPEN MARKET. NON-UNITED STATES
HOLDERS ARE URGED TO CONSULT THEIR OWN TAX ADVISORS REGARDING THE APPLICATION
OF U.S. FEDERAL INCOME TAX WITHHOLDING, INCLUDING ELIGIBILITY FOR A WITHHOLDING
TAX REDUCTION OR EXEMPTION, AND THE REFUND PROCEDURE. 11.
Requests for Assistance or Additional
Copies. Questions and requests for assistance or additional copies
of the Offer to Purchase, this Letter of Transmittal, and the Guidelines for
Certification of Taxpayer Identification Number on Substitute Form W-9 may be
directed to the Information Agent at its address set forth on the back page of
this Letter of Transmittal. Copies will be furnished promptly at Purchasers
expense. 12.
Lost, Destroyed or Stolen Certificates. If
any certificate representing shares has been lost, destroyed or stolen, the
shareholder should promptly notify the Depositary at (877) 248-6417. The
shareholder will then be instructed by the Depositary as to the steps that must
be taken in order to replace the certificate. This Letter of Transmittal and
related documents cannot be processed until the procedures for replacing lost,
destroyed or stolen certificates have been followed. 13.
Conditional Tenders. As described
in Sections 3 and 6 of the Offer to Purchase, shareholders may condition their
tenders on all or a minimum number of their tendered shares being purchased. If
you wish to make a conditional tender you must indicate this in the box
captioned Conditional Tender in this Letter of Transmittal. In the box in
this Letter of Transmittal, you must calculate and appropriately indicate the
minimum number of shares that must be purchased if any are to be purchased. As
discussed in Sections 3 and 6 of the Offer to Purchase, proration may affect
whether Purchaser accepts conditional tenders and may result in shares tendered
pursuant to a conditional tender being deemed withdrawn if the minimum number
of shares would not be purchased. If, because of proration (because more than
the number of shares sought are properly tendered), the minimum number of
shares that you designate will not be purchased, Purchaser may accept
conditional tenders by random lot, if necessary. However, to be eligible for purchase
by random lot, you must have tendered all of your shares and check the box so
indicating. Upon selection by lot, if any, Purchaser will limit its purchase in
each case to the designated minimum number of shares. All
tendered shares will be deemed unconditionally tendered unless the Conditional
Tender box is completed. The
conditional tender alternative is made available so that a shareholder may seek
to structure the purchase of shares pursuant to the offer in such a manner that
the purchase will be treated as a sale of such shares by the shareholder,
rather than the payment of a dividend to the shareholder, for federal income
tax purposes. If you are an odd lot holder and you tender all of your shares,
you cannot conditionally tender, because your shares will not be subject to
proration. It is the tendering shareholders responsibility to calculate the
minimum number of shares that must be purchased from the shareholder in order
for the shareholder to qualify for sale rather than dividend treatment. Each
shareholder is urged to consult his or her own tax advisor. See Sections 6 and
14 of the Offer to Purchase. 14.
Odd Lots. As described in Section
1 of the Offer to Purchase, if Purchaser is to purchase fewer than all shares
tendered before the Expiration Date and not properly withdrawn, the shares
purchased first will consist of all shares properly tendered and not properly
withdrawn by any shareholder who owned, beneficially or of record, an aggregate
of fewer than 100 shares, and who tenders all of the holders shares at or
below the purchase price. This preference will not be available unless the
section captioned Odd Lots is completed. 15.
Order of Purchase in Event of Proration. As
described in Section 1 of the Offer to Purchase, shareholders may designate the
order in which their shares are to be purchased in the event of proration. The
order of purchase may have an effect on the U.S. federal income tax
classification of any gain or loss on the shares purchased. See Sections 1 and
14 of the Offer to Purchase. IMPORTANT: THIS LETTER OF TRANSMITTAL,
TOGETHER WITH ANY REQUIRED
SIGNATURE GUARANTEES, OR, IN THE CASE OF A BOOK-ENTRY TRANSFER, AN AGENTS
MESSAGE, AND ANY OTHER REQUIRED DOCUMENTS, MUST BE RECEIVED BY THE DEPOSITARY
PRIOR TO THE EXPIRATION DATE AND EITHER CERTIFICATES FOR TENDERED SHARES MUST
BE RECEIVED BY THE DEPOSITARY OR SHARES MUST BE DELIVERED PURSUANT TO THE
PROCEDURES FOR BOOK-ENTRY TRANSFER, IN EACH CASE PRIOR TO THE EXPIRATION DATE. Purpose of Substitute Form W-9 To
prevent backup withholding on payments that are made to a shareholder or other
payee with respect to shares of Common Stock tendered for payment, the
shareholder or other payee is required to notify the Depositary of such
shareholders correct Taxpayer Identification Number, or TIN (or the TIN of
any other payee), by completing the form below certifying that the TIN provided
on Substitute Form W-9 is correct (or that such shareholder or other payee is
awaiting a TIN), and that (i) such shareholder or other payee is exempt from
backup withholding, (ii) such shareholder or other payee has not been notified
by the Internal Revenue Service that such shareholder or other payee is subject
to backup withholding as a result of a failure to report all interest or
dividends or (iii) the IRS has notified such shareholder or other payee that
such shareholder or other payee is no longer subject to backup withholding. What Number to Give the Depositary The
shareholder (or other payee) is required to give the Depositary the social
security number or employer identification number of the record holder (or any
other payee) of the shares of Common Stock tendered hereby. If the shares of
Common Stock are registered in more than one name or are not in the name of the
actual owner, consult the enclosed Guidelines
for Certification of Taxpayer Identification Number on Substitute Form W-9 for
additional guidance on which number to report. If the surrendering shareholder
(or other payee) has not been issued a TIN and has applied for a number or
intends to apply for a number in the near future, the shareholder (or other
payee) should write Applied For in the space provided for the TIN in Part I,
sign and date the Substitute Form W-9, and complete the additional Certificate
of Awaiting Taxpayer Identification Number. If Applied For is written in Part
I and the Depositary is not provided with a TIN by the time of payment, the
Depositary will withhold 28% of all payments to such shareholder (or other
payee) until a properly certified TIN is provided to the Depositary. TO BE COMPLETED BY ALL SHAREHOLDERS (OR OTHER
PAYEES) Payers Name: American Stock Transfer &
Trust Company SUBSTITUTE Part I Taxpayer
Identification Number For all accounts, enter taxpayer identification
number in the box at right. (For most individuals, this is your social
security number. If you do not have a number, see Obtaining a Number in the enclosed Guidelines.)
Certify by signing and
dating below. Social Security Number OR Part III Certification Under
penalties of perjury, I certify that: (1) The number
shown on this form is my correct Taxpayer Identification Number (or I am
waiting for a number to be issued to me); (2) I am not
subject to backup withholding either because (a) I am exempt from backup
withholding, (b) I have not been notified by the Internal Revenue Service
(IRS) that I am subject to backup withholding as a result of a failure to
report all interest or dividends, or (c) the IRS has notified me that I am no
longer subject to backup withholding; and (3) I am a
U.S. person (including a U.S. resident alien). Certification Instructions You must cross
out item (2) above if you have been notified by the IRS that you are subject
to backup withholding because of underreporting interest or dividends on your
tax return. However, if after being notified by the IRS that you were subject
to backup withholding you received another notification from the IRS that you
were no longer subject to backup withholding, do not cross out item (2).
(Also see instructions in the enclosed Guidelines.) Signature Date YOU MUST COMPLETE THE FOLLOWING CERTIFICATE
IF YOU WROTE CERTIFICATE OF AWAITING TAXPAYER
IDENTIFICATION NUMBER I certify
under penalties of perjury that a taxpayer identification number has not been
issued to me, and either (a) I have mailed or delivered an application to
receive a taxpayer identification number to the appropriate Internal Revenue
Service Center or Social Security Administration Office or (b) I intend to
mail or deliver an application in the near future. I understand that,
notwithstanding the information I provided in Part III of the Substitute Form
W-9 (and the fact that I have completed this Certificate of Awaiting Taxpayer
Identification Number), the Depositary will withhold at the applicable
statutory rate (currently 28%) on all payments made prior to the time a
properly certified TIN is provided to the Depositary. Signature Date NOTE: FAILURE TO COMPLETE AND RETURN THE SUBSTITUTE FORM W-9 MAY RESULT IN
BACKUP WITHHOLDING OF 28% OF ANY PAYMENTS MADE TO YOU. PLEASE REVIEW THE
ENCLOSED GUIDELINES FOR CERTIFICATION OF
TAXPAYER IDENTIFICATION NUMBER ON SUBSTITUTE FORM W-9 FOR
ADDITIONAL DETAILS. GUIDELINES FOR CERTIFICATION OF TAXPAYER
IDENTIFICATION GUIDELINES
FOR DETERMINING THE PROPER IDENTIFICATION NUMBER TO GIVE THE PAYER.
Social Security numbers have nine digits separated by two hyphens: i.e.
000-00-0000. Employer identification numbers have nine digits separated by only
one hyphen: i.e. 00-0000000. The table below will help determine the number to
give the payer. Give the SOCIAL
SECURITY For this
type of account: number of
1. An
individuals account The
individual 2. Two or more
individuals (joint account) The actual
owner of the account or, if combined funds, the first individual on the
account(1) 3. Custodian
account of a minor (Uniform Gift to Minors Act) The minor(2) 4. (a) The
usual revocable savings trust account (grantor is also trustee) The
grantor-trustee(1) (b)
So-called trust account that is not a legal or valid trust under State law The owner(3) 5. Sole
proprietorship account The owner Give the EMPLOYER
IDENTIFICATION For this
type of account: number of
6. An
individuals account The
individual 7. A valid
trust, estate, or pension trust The legal
entity (Do not furnish the identifying number of the personal representative
or trustee unless the legal entity itself is not designated in the account
title.)(4) 8. Corporate
account The
corporation 9. Partnership
account held in the name of the business The
partnership 10. Association,
club, religious, charitable, or other tax-exempt organization The
organization 10. A broker or
registered nominee The broker
or nominee 11. Account with
the Department of Agriculture in the name of a public entity (such as a State
or local government, school district, or prison) that receives an
agricultural program (1) List and
circle the name of the person whose number you furnish. (2) Circle the
minors name and furnish the minors social security number. (3) Show the
name of the owner. The name of the business or the doing business as name
may also be entered. Either the social security number or the employer
identification number may be used. (4) List and
circle the name of the legal trust, estate, or pension trust. NOTE: If no name
is circled when there is more than one name, the number will be considered to
be that of the first name listed. GUIDELINES FOR CERTIFICATION OF TAXPAYER
IDENTIFICATION Obtaining a Number If you dont
have a taxpayer identification number or you dont know your number, obtain
Form SS-5, Application for a Social Security Number Card, or Form SS-4,
Application for Employer Identification number, at the local office of the
Social Security Administration or the Internal Revenue Service and apply for a
number. Payees Exempt from Backup Withholding Payees
specifically exempted from backup withholding on ALL dividend and interest
payments and on broker transactions include the following: A
corporation. A financial
institution. An
organization exempt from tax under section 501(a), or an individual
retirement plan, or a custodial account under section 403(b)(7). The United
States or any agency or instrumentality thereof. A State, the
District of Columbia, a possession of the United States, or any subdivision
or instrumentality thereof. A foreign
government, a political subdivision of a foreign government, or any agency or
instrumentality thereof. An
international organization or any agency, or instrumentality thereof. A registered
dealer in securities or commodities registered in the U.S. or in a possession
of the U.S. A real
estate investment trust. A common
trust fund operated by a bank under section 584(a). An exempt
charitable remainder trust, or a non-exempt trust described in section
4947(a)(1). An entity
registered at all times under the Investment Company Act of 1940. A foreign
central bank of issue. Payments of
dividends and patronage dividends not generally subject to backup withholding
include the following: Payments to
nonresident aliens subject to withholding under section 1441. Payments to
partnerships not engaged in a trade or business in the U.S. and which have at
least one nonresident partner. Payments of
patronage dividends where the amount received is not paid in money. Payments
made by certain foreign organizations. Section
404(k) distributions made by an ESOP. EXEMPT PAYEES
DESCRIBED ABOVE SHOULD FILE THE SUBSTITUTE FORM W-9 TO AVOID POSSIBLE ERRONEOUS
BACKUP WITHHOLDING. COMPLETE THE SUBSTITUTE FORM W-9 AS FOLLOWS: ENTER YOUR
TAXPAYER IDENTIFICATION NUMBER, WRITE EXEMPT ON THE FACE OF THE FORM, SIGN,
DATE AND RETURN THE FORM TO THE EXCHANGE AGENT. Certain
payments other than interest dividends, and patronage dividends, that are not
subject to information reporting are also not subject to backup withholding.
For details, see the regulations under sections 6041, 6041A(a), 6042, 6044,
6045, 6049, and 6050A and 6050N and the regulations thereunder. Privacy Act Notice.
Section 6109 requires most recipients of dividend, interest, or other
payments to give taxpayer identification numbers to payers who must report the
payments to IRS. IRS uses the numbers for identification purposes. Payers must
be given the numbers whether or not recipients are required to file tax
returns. Payers must generally withhold 28% of taxable interest, dividend, and
certain other payments to a payee who does not furnish a taxpayer
identification number to a payer. Certain penalties may also apply. Penalties (1) Penalty for Failure to Furnish Taxpayer
Identification Number. If you fail to furnish your
taxpayer identification number to the Exchange Agent, you are subject to a
penalty of $50 for each such failure unless your failure is due to a reasonable
cause and not to willful neglect. (2) Civil Penalty for False Information With
Respect to Withholding. If you make a false
statement with no reasonable basis which results in no imposition of backup
withholding, you are subject to a penalty of $500. (3) Criminal Penalty for Falsifying
Information. Willfully falsifying certificates or
affirmations may subject you to criminal penalties including fines and/or
imprisonment. FOR ADDITIONAL INFORMATION CONTACT YOUR TAX
CONSULTANT OR THE INTERNAL REVENUE SERVICE. Any
questions or requests for assistance may be directed to the Information Agent
or the Dealer Manager at their respective telephone numbers and addresses set
forth below. Requests for additional copies of the Offer to Purchase, this
Letter of Transmittal or related documents may be directed to the Information
Agent at its telephone numbers or address set forth below. You may also contact
your broker, dealer, commercial bank, trust company or other nominee for
assistance concerning the Offer. The Information Agent for the Offer is: INNISFREE M&A INCORPORATED The Dealer Managers for the Offer are: BANC OF AMERICA SERVICES LLC WACHOVIA SECURITIES 9 West 57th Street 375 Park Avenue, 4th Floor New York, NY 10019 New York, NY 10152 Tel: (212) 583-8426 Attn: Tom Yates Toll Free: (800) 532-2916 Exhibit (a)(1)(iii) NOTICE
OF GUARANTEED DELIVERY For
Tender of Shares of Common Stock of PREMIERE GLOBAL SERVICES, INC. THE OFFER, PRORATION PERIOD AND WITHDRAWAL
RIGHTS EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON As
set forth in Section 3 of the Offer to Purchase (as defined below), this Notice
of Guaranteed Delivery, or a form substantially equivalent hereto, must be used
to accept the Offer (as defined below) if you want to tender your shares but: your
certificates for the shares are not immediately available or cannot be
delivered to the Depositary by the expiration of the tender offer; you cannot
comply with the procedure for book-entry transfer by the expiration of the
tender offer; or your other
required documents cannot be delivered to the Depositary by the expiration of
the tender offer. This
Notice of Guaranteed Delivery, properly completed and duly executed, must be
delivered to the Depositary by mail, overnight courier or by facsimile
transmission prior to the expiration date. Deliver to: the Depositary for the Tender Offer By Mail or
Overnight Courier: By Hand: By Facsimile
Transmission (For Eligible Institutions Only) American Stock Transfer & Trust American Stock Transfer & Trust American Stock Transfer Company Company Company Attn: Reorganization Department Operations Center Attn: Reorganization Department 718-234-5001 Attn: Reorganization Department 59 Maiden Lane Confirm Receipt by Calling: 6201 15th Avenue New York, NY 10038 877-248-6417 or Brooklyn, NY 11219 718-921-8317 For
this notice to be validly delivered, it must be received by the Depositary at
one of the addresses listed above before the expiration of the tender offer.
Delivery of this instrument to an address other than as set forth above will
not constitute a valid delivery. Deliveries
to Premiere Global Services, Inc., the Dealer Managers or the Information Agent
will not be forwarded to the Depositary and therefore will not constitute valid
delivery. Deliveries to The Depository Trust Company will not constitute valid
delivery to the Depositary. This
Notice of Guaranteed Delivery is not to be used to guarantee signatures. If a
signature on the Letter of Transmittal is required to be guaranteed by an
Eligible Institution (as defined in the Offer to Purchase) under the
instructions to the Letter of Transmittal, the signature guarantee must appear
in the applicable space provided in the signature box on the Letter of
Transmittal. Ladies and
Gentlemen: The
undersigned hereby tenders to Premiere Global Services, Inc., upon the terms
and subject to the conditions set forth in its Offer to Purchase dated April 23, 2007 (the Offer to Purchase), and the related Letter of Transmittal
(which, together with any amendments or supplements thereto, collectively
constitute the Offer), receipt of which is hereby acknowledged, the number of
shares of common stock of Premiere Global Services, Inc., par value $0.01 per
share (the Common Stock), listed below, pursuant to the guaranteed delivery
procedures set forth in Section 3 of the Offer to Purchase. Number
of shares to be tendered: ________________ shares A
shareholder may tender shares subject to the condition that a specified minimum
number of the shareholders shares tendered pursuant to the Letter of
Transmittal must be purchased if any shares tendered are purchased, all as
described in the Offer to Purchase, particularly in Section 6 of the Offer to
Purchase. Unless at least the minimum number of shares indicated below is
purchased by Purchaser pursuant to the terms of the Offer, none of the shares
tendered will be purchased. It is the tendering shareholders responsibility to
calculate the minimum number of shares that must be purchased if any are
purchased, and Premiere Global Services, Inc. urges shareholders to consult
their own tax advisors before completing this section. Unless this box has been
checked and a minimum specified, the tender will be deemed unconditional. o The minimum
number of shares that must be purchased, if any are purchased, is: ________
shares. If,
because of proration, the minimum number of shares designated will not be
purchased, Premiere Global Services, Inc. may accept conditional tenders by
random lot, if necessary. However, to be eligible for purchase by random lot,
the tendering shareholder must have tendered all of his or her shares and
checked this box: o The tendered
shares represent all shares held by the undersigned. 2 ODD LOTS To
be completed ONLY if shares are being tendered by or on behalf of a person
owning, beneficially or of record, as of the close of business on the date set
forth on the signature page hereto, and who continues to own, beneficially or
of record, as of the expiration date of the Offer, an aggregate of fewer than
100 shares. The
undersigned either (check one box): o is the beneficial or record owner of an
aggregate of fewer than 100 shares, all of which are being tendered; or o is a broker, dealer, commercial bank, trust
company, or other nominee that (a) is tendering for the beneficial owner(s),
shares with respect to which it is the record holder, and (b) believes, based
upon representations made to it by the beneficial owner(s), that each such
person is the beneficial owner of an aggregate of fewer than 100 shares and
is tendering all of the shares beneficially owned by each such person. 3 CERTIFICATION BY NON-UNITED STATES HOLDERS The
undersigned represents that either (check one box): o the
undersigned is the beneficial or record owner of shares and is tendering all
of the undersigneds shares, including those owned directly and
constructively (see Section 14 of the Offer to Purchase); or o the
undersigned is a broker, dealer, commercial bank, trust company or other
nominee which: (a) is tendering, for the beneficial owner(s) thereof, shares
with respect to which the undersigned is the record owner; and (b) believes,
based upon representations made to the undersigned by such beneficial owners,
that each such person is tendering all of their shares, including those owned
directly and constructively (see Section 14 of the Offer to Purchase). 4 PLEASE SIGN ON THIS PAGE Name(s) of
Record Holder(s): (Please Print) Signature(s): X X Address(es): Zip code(s): (Area code)
and telephone number: If delivery
will be by book-entry transfer, check this box o Name of
Tendering Institution: Account
Number: 5 GUARANTEE The
undersigned, a bank, broker, dealer, credit union, savings association or other
entity which is a member in good standing of the Securities Transfer
Association Medallion Signature Guarantee Program or an eligible guarantor
institution (as such term is defined in Rule 17Ad-15 under the Securities
Exchange Act of 1934, as amended (the Exchange Act), hereby guarantees (i)
that the above-named person(s) has a net long position in the shares being
tendered within the meaning of Rule 14e-4 promulgated under the Exchange Act,
(ii) that such tender of shares complies with Rule 14e-4 and (iii) to deliver
to the Depositary at one of its addresses set forth above certificate(s) for
the shares tendered hereby, in proper form for transfer, or a confirmation of
the book-entry transfer of the shares into the Depositarys account at The
Depository Trust Company, together with a properly completed and duly executed
Letter of Transmittal (or a manually signed facsimile thereof) and any other
required documents, within three business days after the date of receipt by the
Depositary. The
eligible institution that completes this form must communicate the guarantee to
the Depositary and must deliver the Letter of Transmittal and certificates for
Shares to the Depositary within the time period shown herein. Failure to do so
could result in financial loss to such eligible institution. Name of Eligible Institution X Authorized Signature Address Name (Print Name) Zip Code Title (Area Code) Telephone No. Dated: ________, 2007 This form is not to be used to guarantee signatures. If a signature on a Letter of Transmittal is required to be guaranteed by an Eligible Institution under the Instructions thereto, such signature guarantee must appear in the applicable space provided in the signature box on the Letter of Transmittal. NOTE: DO NOT SEND SHARE CERTIFICATES WITH THIS FORM. YOUR SHARE
6
Exhibit (a)(1)(iv) April 23, 2007 To Our Shareholders: Today,
we commenced a $150 million self-tender offer to acquire up to 11,857,707
shares of our common stock, representing approximately 17% of our currently
outstanding common stock, at a purchase price of $12.65 per share in cash (the
Offer). Enclosed you will find the Offer to Purchase and Letter of
Transmittal which contain the terms of the Offer and instructions on how to
tender your shares if you decide to tender your shares. The Offer will expire
at 5:00 P.M., New York City time, on Monday, May 21, 2007, unless extended by
us. The
Offer price represents a premium of approximately 10% above the average closing
stock price over the ten trading days prior to our announcement of the Offer on
April 19, 2007. Your Board of Directors, with the assistance of independent
financial advisors, reviewed the Companys strategic plan, its projected uses
of cash flows for, among other things, capital expenditures, acquisitions, debt
repayment and share repurchases, and a variety of alternatives for using the
Companys available financial resources. Following this comprehensive review,
the Board determined that the Offer is a prudent use of capital that delivers
immediate value to shareholders and enables the Company to continue to support
growth of its businesses and the execution of its strategic plan. We plan to fund the Offer through borrowings under our existing credit
facility, which has been amended to accommodate the Offer. We
currently project the Offer will be accretive to our diluted earnings per
share. I
urge you to carefully read the enclosed materials, as they contain important
information about the Offer. If you have any questions regarding the Offer or
need assistance in tendering your shares, please contact Innisfree M&A Incorporated, the Information Agent for the Offer, toll
free at (888) 750-5834 or Banc of America
Securities LLC or Wachovia Capital Markets, LLC, the Dealer Managers for the
Offer toll free, at (888) 583-5426, ext. 8426 or (800) 532-2916, respectively. Sincerely, Boland T. Jones Chairman
of the Board and Exhibit (a)(1)(v) Offer
to Purchase for Cash PREMIERE GLOBAL SERVICES, Inc. of Up
to 11,857,707 Shares of Its Common Stock THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS
EXPIRE AT 5:00 P.M., NEW April 23, 2007 To Brokers, Dealers,
Commercial Banks, Trust Companies and Other Nominees: Premiere
Global Services, Inc., a Georgia corporation, has appointed us to act as Dealer
Managers in connection with its offer to purchase for cash up to 11,857,707
shares of its common stock, par value $0.01 per share (the Common Stock), at
a price of $12.65 per share, net to the seller in cash, less any applicable
withholding taxes and without interest, upon the terms and subject to the
conditions set forth in the Offer to Purchase dated April 23, 2007 (the Offer
to Purchase) and the related Letter of Transmittal (which together, as they
may be amended or supplemented from time to time, constitute the Offer).
Capitalized terms used herein and not defined herein shall have the meanings
given to them in the Offer to Purchase. The description of the Offer in this
letter is only a summary and is qualified in its entirety by all of the terms
and conditions of the Offer set forth in the Offer to Purchase and Letter of
Transmittal. All
shares properly tendered prior to the expiration date and not properly
withdrawn will be purchased in the Offer, upon the terms and subject to the
conditions of the Offer, including the odd lot priority, proration and
conditional tender provisions described in the Offer to Purchase. Under no
circumstances will interest be paid on the purchase price for the shares,
regardless of any delay in making such payment. All shares acquired in the
Offer will be acquired at the same purchase price. Premiere Global reserves the
right, in its sole discretion, to purchase more than 11,857,707 shares in the
Offer, and to amend the maximum aggregate purchase price, subject to applicable
law. Premiere
Global reserves the right, in its sole discretion, to terminate the Offer upon
the occurrence of certain conditions more specifically described in Section 7
of the Offer to Purchase, or to amend the Offer in any respect, subject to
applicable law. Upon
the terms and subject to the conditions of the Offer, if more than 11,857,707
shares, or such greater number of shares as Premiere Global may elect to
purchase, subject to applicable law, have been validly tendered, and not
properly withdrawn before the expiration date, Premiere Global will accept the
shares to be purchased in the following order of priority: (i) from all holders
of odd lots of less than 100 shares who properly tender all their shares and
do not properly withdraw them before the expiration date (partial tenders will
not qualify for this preference); (ii) from all other shareholders who properly
tender shares, on a pro rata basis, subject to the conditional tender
provisions described in the Offer to Purchase and with appropriate adjustment
to avoid purchases of fractional shares; and (iii) only if necessary to permit
Premiere Global to purchase the total number of shares desired to be purchased
in this Offer, from holders who have tendered shares subject to the condition
that a specified minimum number of the holders shares be purchased if any
shares are purchased in the Offer as described in the Offer to
Purchase (for which the condition was not initially satisfied) by random lot,
to the extent feasible. To be eligible for purchase by random lot, shareholders
whose shares are conditionally tendered must have tendered all of their shares.
Therefore, Premiere Global may not purchase all of the shares that shareholders
tender even if they tender them. Shares not purchased because of proration
provisions will be returned to the tendering shareholders at Premiere Globals
expense promptly after expiration of the Offer. See Section 1, Section 3 and
Section 5 of the Offer to Purchase. The
Offer is not conditioned on any minimum number of shares being tendered. The
Offer is, however, subject to certain other conditions. See Section 7 of the
Offer to Purchase. Premiere
Globals directors and executive officers have advised Premiere Global that
they do not intend to tender their shares in the Offer. For
your information and for forwarding to those of your clients for whom you hold
shares registered in your name or in the name of your nominee, we are enclosing
the following documents: 1.
The Offer to Purchase; 2.
The Letter of Transmittal for your use and for the information of your clients,
including a Substitute Form W-9; 3.
Notice of Guaranteed Delivery to be used to accept the tender offer if the
share certificates and all other required documents cannot be delivered to the
Depositary before the expiration date or if the procedure for book-entry
transfer cannot be completed before the expiration date; 4.
A letter to the shareholders of Premiere Global, dated April 23, 2007, from
Boland T. Jones, the Chairman of the Board and Chief Executive Officer of
Premiere Global; 5.
A letter to clients that you may send to your clients for whose accounts you
hold shares registered in your name or in the name of your nominee, with space
provided for obtaining such clients instructions with regard to the Offer; and 6.
A return envelope addressed to American Stock Transfer & Trust Company, as
Depositary for the Offer. YOUR
PROMPT ACTION IS REQUESTED. WE URGE YOU TO CONTACT YOUR CLIENTS AS PROMPTLY AS
POSSIBLE. PLEASE NOTE THAT THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS
EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON MONDAY, MAY 21, 2007, UNLESS THE
OFFER IS EXTENDED. The
Companys Board of Directors has approved the Offer. However, none of the
Company, its Board of Directors, the Dealer Managers, the Information Agent or
the Depositary makes any recommendation to your clients as to whether they
should tender or refrain from tendering their Shares. Your clients must make
their own decision as to whether to tender their Shares and, if so, how many
Shares to tender. In doing so, your clients should read carefully the
information in the Offer to Purchase and in the Letter of Transmittal,
including the Companys reasons for making the Offer. Certain conditions to the
Offer are described in Section 7 of the Offer to Purchase. All tenders must be
in proper form as described in Section 3 of the Offer to Purchase to be valid. For
shares to be tendered properly pursuant to the Offer, the certificates for such
shares, or confirmation of receipt of such shares pursuant to the procedure for
book-entry transfer set forth in Section 3 of the Offer to Purchase, together
with (a) a properly completed and duly executed Letter of Transmittal including
any required signature guarantees and any documents required by the Letter of
Transmittal or (b) an Agents Message (as described in Section 3 of the Offer
to Purchase) in the case of a book-entry transfer, must be received before 5:00
p.m., New York City time, on Monday, May 21, 2007, by the Depositary at one of
its addresses set forth on the back cover of the Offer to Purchase. Premiere
Global will not pay any fees or commissions to brokers, dealers, commercial
banks or trust companies or other nominees (other than fees to the Dealer
Managers, the Depositary, and the Information Agent, 2 as described in Section 16
of the Offer to Purchase) for soliciting tenders of shares pursuant to the
Offer. Premiere Global will, however, upon request, reimburse brokers, dealers,
commercial banks, trust companies or other nominees for customary mailing and
handling expenses incurred by them in forwarding the Offer and related
materials to the beneficial owners of shares held by them as a nominee or in a
fiduciary capacity. No broker, dealer, commercial bank or trust company has
been authorized to act as the agent of Premiere Global, the Dealer Managers,
the Information Agent or the Depositary for purposes of the Offer. Premiere
Global will pay or cause to be paid all stock transfer taxes, if any, on its
purchase of the shares except as otherwise provided in the Offer to Purchase or
Instruction 7 in the Letter of Transmittal. Any
questions or requests for assistance may be directed to the Dealer Managers or
the Information Agent at their respective telephone numbers and addresses set
forth on the back cover of the Offer to Purchase. You may request additional
copies of enclosed materials and direct questions and requests for assistance
to the Information Agent, Innisfree M&A Incorporated, (Toll Free) at: (888)
750-5834 or banks and brokers (call collect) at (212) 250-5833. Very truly yours, BANC OF AMERICA SECURITIES
LLC WACHOVIA CAPITAL MARKETS,
LLC Enclosures NOTHING
CONTAINED IN THIS DOCUMENT OR IN THE ENCLOSED DOCUMENTS WILL MAKE YOU OR ANY
OTHER PERSON AN AGENT OF PREMIERE GLOBAL, THE DEALER MANAGERS, THE INFORMATION
AGENT OR THE DEPOSITARY OR ANY AFFILIATE OF ANY OF THE FOREGOING, OR AUTHORIZE
YOU OR ANY OTHER PERSON TO USE ANY DOCUMENT OR MAKE ANY STATEMENT ON BEHALF OF
ANY OF THEM IN CONNECTION WITH THE OFFER OTHER THAN THE DOCUMENTS ENCLOSED AND
THE STATEMENTS CONTAINED IN THOSE DOCUMENTS. 3 Exhibit (a)(1)(vi) Offer to Purchase for Cash PREMIERE GLOBAL SERVICES, INC. of THE OFFER, PRORATION PERIOD AND WITHDRAWAL April 23, 2007 To Our Clients: Enclosed
for your consideration are the Offer to Purchase, dated April 23, 2007 (the
Offer to Purchase) and related Letter of Transmittal (which together, as they
may be amended or supplemented from time to time, constitute the Offer) in
connection with the offer by Premiere Global Services, Inc., a Georgia
corporation, to purchase for cash up to 11,857,707 shares of its common stock,
par value $0.01 per share (the Common Stock), at a price of $12.65 per share,
net to the seller in cash, less any applicable withholding taxes and without
interest, upon the terms and subject to the conditions set forth in the Offer
to Purchase and the related Letter of Transmittal. Capitalized terms used
herein and not defined herein shall have the meanings given to them in the
Offer to Purchase. The description of the Offer in this letter is only a
summary and is qualified in its entirety by all of the terms and conditions of
the Offer set forth in the Offer to Purchase and Letter of Transmittal. All
shares properly tendered prior to the expiration date and not properly
withdrawn will be purchased in the Offer, upon the terms and subject to the
conditions of the Offer, including the odd lot priority, proration and
conditional tender provisions described in the Offer to Purchase. Under no
circumstances will interest be paid on the purchase price for the shares,
regardless of any delay in making such payment. All shares acquired in the
Offer will be acquired at the same purchase price. Premiere Global reserves the
right, in its sole discretion, to purchase more than 11,857,507 shares in the
Offer and to amend the purchase price, subject to applicable
law. Premiere
Global reserves the right, in its sole discretion, to terminate the Offer upon
the occurrence of certain conditions more specifically described in Section 7
of the Offer to Purchase, or to amend the Offer in any respect, subject to
applicable law. Upon
the terms and subject to the conditions of the Offer, if more than 11,857,707
shares, or such greater number of shares as Premiere Global may elect to
purchase, subject to applicable law, have been validly tendered, and not
properly withdrawn before the expiration date, Premiere Global will accept the
shares to be purchased in the following order of priority: (i) from all holders
of odd lots of less than 100 shares who properly tender all their shares and
do not properly withdraw them before the expiration date (partial tenders will
not qualify for this preference); (ii) from all other shareholders who properly
tender shares, on a pro rata basis, subject to the conditional tender
provisions described in the Offer to Purchase and with appropriate adjustment
to avoid purchases of fractional shares; and (iii) only if necessary to permit
Premiere Global to purchase the total number of shares desired to be purchased
in this Offer, from holders who have tendered shares subject to the condition
that a specified minimum number of the holders shares be purchased if any
shares are purchased in the Offer as described in the Offer to Purchase (for
which the condition was not initially satisfied) by random lot, to the extent
feasible. To be eligible for purchase by random lot, shareholders whose shares
are conditionally tendered must have tendered all of their shares. Therefore,
Premiere Global may not purchase all of the shares that you tender. Shares not
purchased because of proration provisions will be returned to the tendering
shareholders at Premiere Globals expense promptly after expiration of the
Offer. See Section 1, Section 3 and Section 5 of the Offer to Purchase. The
Offer is not conditioned on any minimum number of shares being tendered. The
Offer is, however, subject to certain other conditions. See Section 7 of the
Offer to Purchase. We
are the owner of record of shares held for your account. As such, we are the
only ones who can tender your shares, and then only pursuant to your
instructions. WE ARE SENDING YOU THE LETTER
OF TRANSMITTAL FOR YOUR INFORMATION ONLY; YOU CANNOT USE IT TO TENDER SHARES WE
HOLD FOR YOUR ACCOUNT. Please
instruct us as to whether you wish us to tender any or all of the shares we
hold for your account on the terms and subject to the conditions of the Offer. Please
note the following: 1. You should consult with
your broker or other financial or tax advisors on the possibility of
designating the priority in which your shares will be purchased in the event
of proration. 2. The Offer, proration
period and withdrawal rights will expire at 5:00 p.m., New York City time, on
Monday, May 21, 2007, unless Premiere Global extends the Offer. 3. The Offer is for up to
11,857,707 shares (representing approximately 17% of the shares outstanding
as of April 19, 2007). 4. Tendering shareholders who
are tendering shares held in their name or who tender their shares directly
to the Depositary will not be obligated to pay any brokerage commissions or
fees to Premiere Global or to the Dealer Managers, solicitation fees, or,
except as set forth in the Offer to Purchase and the Letter of Transmittal,
stock transfer taxes on the purchase of shares under the Offer. 5. If you wish to condition
your tender upon the purchase of all shares tendered or upon the purchase of
a specified minimum number of the shares which you tender, you may elect to
do so and thereby avoid possible proration of your tender. The purchase of
shares from all tenders that are so conditioned will be determined by random
lot. To elect such a condition complete the box entitled Conditional Tender
in the attached Instruction Form. YOUR
PROMPT ACTION IS REQUESTED. YOUR
INSTRUCTION FORM SHOULD BE FORWARDED TO US IN AMPLE TIME TO PERMIT US TO SUBMIT
A TENDER ON YOUR BEHALF BEFORE THE EXPIRATION OF THE OFFER. PLEASE NOTE THAT
THE OFFER, PRORATION PERIOD AND WITHDRAWAL RIGHTS EXPIRE AT 5:00 P.M., NEW YORK
CITY TIME, ON MONDAY, MAY 21, 2007, UNLESS THE OFFER IS EXTENDED. If
you wish to have us tender any or all of your shares, please so instruct us by
completing, executing, detaching and returning to us the attached Instruction
Form. If you authorize us to tender your shares, we will tender all such shares
unless you specify otherwise on the attached Instruction Form. The
Companys Board of Directors has approved the Offer. However, none of the
Company, its Board of Directors, the Dealer Managers, the Information Agent or
the Depositary makes any recommendation to you as to whether you should tender
or refrain from tendering your Shares. You must make your own decision as to
whether to tender your shares and, if so, how many shares to tender. In doing
so, you should read carefully the information in the Offer to Purchase and in
the related Letter of Transmittal, including the Companys reasons for making
the Offer. See Section 2 of the Offer to Purchase. All
of the Companys directors and executive officers have advised the Company that
they do not intend to tender shares pursuant to the Offer. See Section 11 of
the Offer to Purchase. The
Offer is being made solely under the Offer to Purchase and the related Letter
of Transmittal and is being made to all record holders of shares of Common
Stock. The Offer is not being made to, nor will tenders be accepted from or on
behalf of, holders of shares of Common Stock residing in any jurisdiction in
which the making of the Offer or acceptance thereof would not be in compliance
with the securities, blue sky or other laws of such jurisdiction. - 2 - INSTRUCTION FORM The
undersigned acknowledge(s) receipt of your letter and the enclosed Offer to
Purchase dated April 23, 2007 (the Offer to Purchase), and the related
Letter of Transmittal (which together, as they may be amended and supplemented
from time to time, constitute the Offer), in connection with the offer by
Premiere Global Services, Inc., a Georgia corporation, to purchase for cash up
to 11,857,707 shares of its common stock, par value $0.01 per share (the
Common Stock), at a price of $12.65 per share, net to the seller in cash,
less any applicable withholding taxes and without interest. The
undersigned hereby instruct(s) you to tender to Premiere Global the number of
shares indicated below or, if no number is specified, all shares you hold for
the account of the undersigned, upon the terms and subject to the conditions of
the Offer. In
participating in the Offer, the undersigned acknowledges that: (1) the Offer is
established voluntarily by Premiere Global, it is discretionary in nature and
it may be extended, modified, suspended or terminated by Premiere Global as
provided in the Offer to Purchase; (2) the undersigned is voluntarily
participating in the Offer; (3) the future value of the Common Stock is unknown
and cannot be predicted with certainty; (4) the undersigned has received the
Offer to Purchase; (5) the undersigned has consulted his or her tax and
financial advisors with regard to how the Offer will impact his or her personal
situation; (6) any foreign exchange obligations triggered by the undersigneds
tender of Shares or the recipient of proceeds are solely his or her
responsibility; and (7) regardless of any action that Premiere Global takes
with respect to any or all income/capital gains tax, social security or
insurance tax, transfer tax or other tax-related items (Tax Items) related to
the Offer and the disposition of Shares, the undersigned acknowledges that the
ultimate liability for all Tax Items is and remains his or her sole
responsibility. In that regard, the undersigned authorizes Premiere Global to
withhold all applicable Tax Items legally payable by the undersigned. The
undersigned consents to the collection, use and transfer, in electronic or
other form, of the undersigneds personal data as described in this document by
and among, as applicable, Premiere Global, its subsidiaries, and third party
administrators for the exclusive purpose of implementing, administering and
managing his or her participation in the Offer. Aggregate Number of Shares to be Tendered By You For - 3 - CONDITIONAL TENDER (See Instruction 13 to the Letter of Transmittal) A
shareholder may tender shares subject to the condition that a specified minimum
number of the shareholders shares tendered pursuant to the Letter of
Transmittal must be purchased if any shares tendered are purchased, all as
described in the Offer to Purchase, particularly in Section 6 thereof. Unless
at least that minimum number of shares indicated below is purchased by Premiere
Global pursuant to the terms of the Offer, none of the shares tendered will be
purchased. It is the tendering shareholders responsibility to calculate that
minimum number of shares that must be purchased if any are purchased, and
Premiere Global urge shareholders to consult their own tax advisors before
completing this section. Unless this box has been checked and a minimum
specified, the tender will be deemed unconditional. o The minimum number of
shares that must be purchased, if any are purchased, is: ________________ shares. If,
because of proration, the minimum number of shares designated will not be
purchased, Premiere Global may accept conditional tenders by random lot, if
necessary. However, to be eligible for purchase by random lot, the tendering
shareholder must have tendered all of his or her shares and checked this box: o The tendered shares
represent all shares held by the undersigned. ODD LOTS (See Instruction 14 to the Letter of Transmittal) To
be completed ONLY if shares are being tendered by or on behalf of a person
owning, beneficially or of record, as of the close of business on the date set
forth in the Signature box below, and who continues to own, beneficially or of
record, as of the Expiration Date, an aggregate of fewer than 100 shares. The
undersigned either (check one box): o is the beneficial or
record owner of an aggregate of fewer than 100 shares, all of which are being
tendered; or o is a broker, dealer,
commercial bank, trust company, or other nominee that (a) is tendering for
the beneficial owner(s), shares with respect to which it is the record
holder, and (b) believes, based upon representations made to it by the
beneficial owner(s), that each such person is the beneficial owner of an
aggregate of fewer than 100 shares and is tendering all of the shares
beneficially owned by each such person. - 4 - The method of delivery of this document is at the election
and risk of the tendering shareholder. If delivery is by mail, then registered
mail with return receipt requested, properly insured, is recommended. In all
cases, sufficient time should be allowed to ensure timely delivery. Premiere Globals Board of Directors has approved the Offer.
However, none of Premiere Global, any member of its Board of Directors, the
Dealer Managers, the Information Agent or the Depositary makes any
recommendation to any shareholder as to whether to tender or refrain from
tendering any shares. Neither Premiere Global, nor any member of the Board of
Directors of Premiere Global, the Dealer Managers, the Information Agent or the
Depositary has authorized any person to make any recommendation with respect to
the Offer. Shareholders should carefully evaluate all information in the Offer
and should consult their own investment and tax advisors. Shareholders must
decide whether to tender their shares and, if so, how many shares to tender. In
doing so, a shareholder should read carefully the information in the Offer to
Purchase and in the Letter of Transmittal before making any decision with
respect to the Offer. - 5 - SIGNATURE Signature(s): Name(s): (Please Print) Taxpayer Identification or
Social Security Number: Address(es): (Including Zip Code) Phone Number (including
Area Code): Date: - 6 - Exhibit (a)(1)(vii) IMMEDIATE ATTENTION REQUIRED April 23, 2007 Dear Participant in the
Premiere Global Services, Inc. 401(k) Plan: The
enclosed tender offer materials and Direction Form require your immediate
attention. Our records reflect that, as a participant in the Premiere Global
Services, Inc. 401(k) Plan (the Plan), all or a portion of your individual
account is invested in the Premiere Global Services, Inc. Company Stock Fund
(the Stock Fund). The tender offer materials describe an offer by Premiere
Global Services, Inc. (the Company), to purchase up to 11,857,707 shares of
the Companys common stock, par value $0.01 per share (the Common Stock), at
a price of $12.65, net to the seller in cash, less any applicable withholding
taxes and without interest (the Offer). As described below, you have the
right to instruct Reliance Trust Company, as trustee of the Plan (the
Trustee), concerning whether to tender shares allocable to the units in your
individual account under the Plan. You will
need to complete the enclosed Direction Form and return it to Ellen Philip
Associates, Inc. (the Independent Plan Tabulator) in the enclosed return
envelope so that it is RECEIVED by 4:00 p.m., New York City time, on or before
Wednesday, May 16, 2007, unless the Offer is extended, in which case the deadline
for receipt of instructions will, to the extent feasible, be three business
days prior to the expiration date of the Offer. If you do not complete the
enclosed Direction Form and return it to the Independent Plan Tabulator on a
timely basis, you will be deemed to have elected not to participate in the
Offer and no shares allocable to the units in your Plan account will be
tendered. Your
balance in the Stock Fund under the Plan is accounted for in units. Each unit
represents a portion of the shares of Common Stock in the Stock Fund. The
Trustee will determine the actual number of shares to tender based on
instructions received from participants and by calculating the number of shares
allocable to the units for which instructions to tender have been received.
Unless otherwise required by applicable law, the Trustee may not exercise its
own discretion whether to tender shares for which no directions are received. To
obtain information on the number of units in your Stock Fund account under the
Plan or for other general information about your Plan account, please call
FASCore, LLC (a part of Great-West Retirement Services) (the Recordkeeper)
at 877-732-4015 or visit the Plans Internet website at www.gwrs.com/metlife. The
remainder of this letter summarizes the transaction, your rights under the Plan
(including a notice of a blackout period) and the procedures for completing and
submitting the Direction Form. You should also review the more detailed
explanation provided in the Offer to Purchase, dated April 23, 2007 (the
Offer to Purchase), enclosed with this letter. Background The
Company recently announced its plans to conduct a tender offer in which it
would purchase for cash up to 11,857,707 shares of Common Stock at a price
of $12.65 per share. Capitalized terms used herein and not defined herein shall
have the meanings given to them in the Offer to Purchase. The description of
the Offer in this letter is only a summary and is qualified by all of the terms
and conditions set forth in the Offer to Purchase. The
enclosed Offer to Purchase sets forth the objectives, terms and conditions of
the Offer and is being provided to all of the Companys shareholders. To
understand the Offer fully and for a more complete description of the terms and
conditions of the Offer, you should carefully read the entire Offer to
Purchase. The
Offer extends to the Common Stock held by the Plan. Only the Trustee, as trustee of the Plan, can tender these shares in
the Offer. Nonetheless, as a participant under the Plan, you have the right to
direct the Trustee whether or not to tender some or all of the shares allocable
to units in your individual Plan account. Unless otherwise required by applicable law, the
Trustee will tender shares allocable to the units in participant accounts in
accordance with participant instructions and the Trustee will not tender shares
allocable to units in participant accounts for which it does not receive timely
instructions. If you do not complete the
enclosed Direction Form and return it to the Independent Plan Tabulator on a
timely basis, you will be deemed to have elected not to participate in the
Offer and no shares allocable to the units in your Plan account will be
tendered. Limitations on Following Your Direction The
enclosed Direction Form allows you to specify the percentage of the shares
allocable to the units in your account that you wish to tender. As detailed
below, under some circumstances, the Trustee may be required not to tender
shares allocable to the units in your account, even if your Direction Form
directs the Trustee to do so. The
Employee Retirement Income Security Act of 1974, as amended (ERISA), and the
trust agreement between the Company and the Trustee prohibit the sale of shares
to the Company for less than adequate consideration, which is defined by
ERISA for a publicly traded security as the prevailing market price on a
national securities exchange. The Trustee will determine adequate
consideration, based on the prevailing or closing market price of the Common
Stock on the New York Stock Exchange on or about the date the shares are
tendered by the Trustee (the prevailing market price). Accordingly, depending
on the prevailing market price of the shares on such date, the Trustee may be
unable to follow participant directions to tender shares to the Company. The
Trustee will not tender shares allocable to units in your account if the
prevailing market price is greater than the tender price offered by the Company
in the Offer ($12.65 per share); notwithstanding your direction to tender
shares allocable to units in your account, the shares allocable to units in
your account will not be tendered. If
the prevailing market price is equal to or lower than the tender price offered by
the Company in the Offer ($12.65 per share), the Trustee will follow your
direction as to the percentage of shares allocable to units in your account to
tender in the Offer. Unless
otherwise required by applicable law, the Trustee will not tender shares
allocable to units in participant accounts for which it has received no
direction, or for which it has received a direction not to tender. It Is Your Decision Whether to Tender The
Board of Directors of the Company has approved the tender offer. However, none
of the Company or its Board of Directors, the Administrative Committee of the
Premiere Global Services, Inc. 401(k) Plan, the Trustee, Banc of America
Securities LLC and Wachovia Capital Markets, LLC (the Dealer Managers for
the Offer), American Stock Transfer & Trust Company (the Depositary for
the Offer) or Innisfree M&A Incorporated (the Information Agent for the
Offer), makes any recommendation to you as to whether you should tender or
refrain from tendering the shares allocable to units in your Plan account. YOU MUST MAKE YOUR OWN DECISION AS TO WHETHER TO
TENDER THE SHARES ALLOCABLE TO UNITS IN YOUR ACCOUNT AND, IF SO, HOW MANY
SHARES ALLOCABLE TO UNITS TO TENDER. In doing so, you should read
carefully the information in the Offer, including the Companys reasons for
making the Offer. The
Companys directors and executive officers have advised the Company that they
do not intend to tender their shares in the Offer. Confidentiality To
assure the confidentiality of your decision, the Independent Plan Tabulator will tabulate the
Direction Forms. Neither the Trustee nor the Independent Plan Tabulator nor
their affiliates or agents will make your individual direction available to the
Company. Procedure for Directing Trustee Enclosed
is a Direction Form which should be completed and returned to the Independent
Plan Tabulator. However, for purposes of the final tabulation, the Trustee will
apply your instructions to the number of shares allocable to the units in your
account as of May 16, 2007, or as of a later date if the Offer is extended. - 2 - If
you do not properly complete the Direction Form or do not return it by the
deadline specified, such shares allocable to units in your account will be
considered NOT TENDERED. To
properly complete your Direction Form, you must do the following: (1) On the face of the
Direction Form, check Box 1 if you wish to tender all of the shares allocable to units in your account. Check Box 2 and follow the instructions
in the below bullet if you wish to tender some, but not all, of your shares in the Plan. If you do not wish to tender any of the shares allocable to units in your account, check Box 3. CHECK BOX 2 and specify
the percentage (between 1% and 99% in whole numbers) of the shares allocable to units in your
individual account that you want to tender. (2) Date and sign the
Direction Form in the space provided. (3) Return the Direction Form
in the enclosed return envelope so that it is received by the Independent
Plan Tabulator at the address on the return envelope (P.O. Box 1997, New
York, NY 10117-0024) not later than 4:00 P.M., New York City time, on Wednesday, May 16,
2007, unless the Offer is extended, in which case, to the extent feasible,
the participant deadline shall be three business days prior to the expiration
date of the Offer. Directions via facsimile will not be accepted. Your
direction will be deemed irrevocable unless withdrawn by 4:00 p.m., New York
City time, on Wednesday, May 16, 2007, unless the Offer is extended by the
Company. In order to make an effective withdrawal, you must submit a new
Direction Form which may be obtained by calling the Recordkeeper at
877-732-4105 and request an additional Direction Form. Upon receipt of a new,
completed and signed Direction Form, your previous direction will be deemed
canceled. You may direct the re-tendering of any shares allocable to units in
your individual account by obtaining an additional Direction Form from the
Recordkeeper and repeating the previous instructions for directing tender as
set forth in this letter. After
the deadline above for returning the Direction Form to the Independent Plan
Tabulator, the Independent Plan Tabulator will complete the tabulation of all
directions. The Trustee will tender the appropriate number of shares on behalf
of the Plan. Subject
to the satisfaction of the conditions described in the Offer to Purchase, the
Company will buy all shares, up to 11,857,707, that are properly tendered
through the Offer. If there is an excess of shares tendered over the exact
number desired by the Company, shares tendered pursuant to the Offer may be
subject to proration, as described in the Offer to Purchase. Any shares allocable
to units in your account that are not purchased in the Offer will remain
allocated to your individual account under the Plan. The
preferential treatment of holders of fewer than 100 shares, as described in the
Offer to Purchase, will not apply to participants in the Plan, regardless of
the number of shares allocable to units held within their individual accounts.
Likewise, the conditional tender of shares, as described in the Offer to
Purchase, will not apply to participants in the Plan. Effect of Tender on Your Account; Freeze on Employer Stock
Account As
of 4:00 p.m., New York City time, on Wednesday, May 16, 2007, certain
transactions involving the Stock Fund attributable to your account, including
all exchanges out, loans, withdrawals and distributions, will be prohibited
until all processing related to the Offer has been completed, unless the Offer
is terminated or the completion date is extended. This freeze on transactions
will apply to ALL shares allocable to units in your Plan account, even if you
elect to tender less than 100% of the shares allocable to the units in your
account. In the event
that the Offer is extended, the freeze on transactions involving the Stock Fund
will, if feasible, be temporarily lifted until three days prior to the new
completion date of the Offer, as extended, at which time a new freeze on these
transactions involving the Stock Fund will commence. You can call the
Recordkeeper at 877-732-4015 to obtain updated information on expiration dates,
deadlines and Stock Fund freezes. - 3 - IMPORTANT NOTE ON PLAN BLACKOUT PERIOD As
a result of this tender offer, you temporarily will be unable to conduct
certain Plan transactions involving the Stock Fund during the period in which
the Independent Plan Tabulator processes the results of the Offer. This period
is called a Blackout Period. During the Blackout Period you will be unable to
direct investments or otherwise transfer amounts out of the Stock Fund. The
Blackout Period begins at 4:00 pm, New York City time, on May 16, 2007. For
Plan participants who do not elect to tender any portion of their Stock Fund in
the Offer, the Blackout Period is expected to end on or about Monday, May 21, 2007. For
Plan participants who do elect to tender all or a portion of their Stock Fund
in the Offer, the Blackout Period is expected to end on or about June 1, 2007.
You can determine whether the Blackout Period has started or ended by calling
the Recordkeeper at 877-732-4015. During
the Blackout Period you will be unable to direct or diversify the assets held
in your Stock Fund. For this reason, it is very important that you review and
consider the appropriateness of your current investments and Plan elections in
light of your inability to obtain loans, withdrawals or distribution or to
direct or diversify your investment in the Stock Fund during the Blackout
Period. For your long-term retirement security, you should give careful
consideration to the importance of a well-balanced and diversified investment
portfolio, taking into account all your assets, income, and investments. You
should be aware that there is a risk to holding substantial portions of your
assets in the Stock Fund, as individual stocks including the Common Stock
tend to have greater volatility, both up and down, in short periods of time,
than investments in diversified funds. Stocks that have wide price swings might
have a large loss during the Blackout Period, and you will not be able to
direct the sale of such stocks from your account during the Blackout Period. Federal
law generally requires that you be furnished notice of a Blackout Period at
least 30 days in advance of the last date on which you could exercise your
affected rights immediately before the commencement of any Blackout Period, in
order to provide you with sufficient time to consider the effect of the
Blackout Period on your retirement and financial plans. There is an exception
to this 30-day rule where such advance notice is not possible due to
unforeseeable circumstances or events beyond the reasonable control of the Plan
administrator. As a result of the securities law requirements related to the
Offer, it was impossible to furnish 30 days advance notice. If
you have any questions concerning the Blackout Period, you should contact the
Recordkeeper at 877-732-4015. Investment of Proceeds For
any shares allocable to units in the Plan that are tendered and purchased by
the Company, the Company will pay cash to the Plan. INDIVIDUAL PARTICIPANTS IN THE PLAN WILL NOT, HOWEVER, RECEIVE ANY CASH
TENDER PROCEEDS DIRECTLY. ALL SUCH PROCEEDS WILL REMAIN IN THE PLAN AND MAY BE
WITHDRAWN ONLY IN ACCORDANCE WITH THE TERMS OF THE PLAN. Pursuant
to the terms of the Plan, the Trustee will invest proceeds received with
respect to shares allocable to units in your account in the Met Conservative
Asset Allocation Portfolio in your account as soon as administratively possible
after receipt of proceeds. The Cash portion of any units with respect to which
you tender shares will also be invested in the Met Conservative Asset
Allocation Portfolio. Once the proceeds have been received and have been
invested in the Met Conservative Asset Allocation Portfolio, you may transfer
them to other available investment funds within the Plan. It is anticipated
that the processing of participant accounts will be completed five to seven
business days after receipt of these proceeds. Shares Outside the Plan If
you hold shares outside of the Plan, you will receive, under separate cover,
Offer materials to be used to tender those shares. Those Offer materials may not be used to direct the Trustee to tender or
not tender the shares allocable to the units in your individual account under
the Plan. Likewise, the tender of shares allocable to the units in
your individual account under the Plan will not be effective with respect to
shares you hold outside of the Plan. The direction to tender or not tender
shares allocable to units in your individual account under the Plan may only be
made in accordance with the procedures in this letter. Similarly, the enclosed
Direction Form may not be used to tender shares held outside of the Plan. - 4 - Further Information If
you require additional information concerning the procedure to tender shares
allocable to the units in your individual account under the Plan, please
contact the Recordkeeper at 877-732-4015. If you require additional information
concerning the terms and conditions of the Offer, please call the Information
Agent for the Offer toll free, at (888) 750-5834. Sincerely, Administrative Committee
of the Premiere Global - 5 - DIRECTION FORM BEFORE COMPLETING THIS FORM, PLEASE READ CAREFULLY THE
ACCOMPANYING PLEASE NOTE THAT IF YOU DO
NOT SEND IN A PROPERLY COMPLETED, SIGNED DIRECTION FORM, OR IF SUCH DIRECTION
FORM IS NOT RECEIVED BY THE INDEPENDENT PLAN TABULATOR BY 4:00 P.M., NEW YORK
CITY TIME ON WEDNESDAY, MAY 16, 2007, UNLESS THE TENDER OFFER IS EXTENDED, THE SHARES
ALLOCABLE TO THE UNITS IN YOUR PLAN ACCOUNT WILL NOT BE TENDERED IN ACCORDANCE
WITH THE TENDER OFFER, UNLESS OTHERWISE REQUIRED BY LAW. Reliance Trust
Company (the Trustee), Ellen Philip Associates (the Independent Plan
Tabulator) and the Administrative Committee of the Premiere Global Services, Inc. 401(k) Plan make no recommendation to any participant in the Premiere Global
Services, Inc. 401(k) Plan (the Plan) as to whether to tender or not. Your
direction to the Trustee will be kept confidential. This Direction Form, if
properly signed, completed and received by the Independent Plan Tabulator in a
timely manner, will supersede any previous Direction Form. To obtain information on the number of units in your Stock
Fund account under the Plan or for other general information about your Plan account,
please call FASCore, LLC (a part of Great-West Retirement Services) at (877)
732-4015 or visit the Plans Internet website at www.gwrs.com/metlife. In
connection with the Offer to Purchase made by Premiere Global Services, Inc.
dated April 23, 2007, I hereby instruct the Trustee to tender the shares
allocable to the units in my Plan account as follows: o TENDER
ALL SHARES o TENDER _____% (1%
99%, whole percentage only) of the shares of Premiere Global Common Stock
allocable to the units in my Plan account pursuant to the offer. Not
completing the blank in the previous sentence will be taken to mean that no
shares allocable to the units in the Stock Fund in my Plan account are to be
tendered. I understand that certain transactions involving shares allocable
to the units in the Stock Fund in my Plan account, including exchanges out,
loans, withdrawals and distributions, will be prohibited from 4:00 pm, New York City time on Wednesday, May 16, 2007, until all processing
of the Offer has been completed, and that such freeze will apply to ALL such
shares allocable to the units in my account even if I elect to tender less
than 100%. o Please DO NOT TENDER shares allocable to the
units in my Plan account pursuant to the Offer. I acknowledge receipt of the
Offer to Purchase. , , 2007 SIGNATURE DATE - 6 -
(d)(2)
Intellivoice Communications,
Inc. 1995 Incentive Stock Plan (assumed by Premiere Global)
(incorporated by reference to Exhibit 10.52 to Premiere Globals Annual Report on Form 10-
K for the year ended December 31, 1999).
(d)(3)(A)
1995 Stock Plan of Premiere Global Services, Inc., as amended (incorporated by reference to
Appendix D to Premiere Globals Definitive Proxy Statement distributed in connection with
Premiere Globals June 5, 2002 Annual Meeting of Shareholders, filed on April 30, 2002).
(d)(3)(B)
Form of NonStatutory Stock Option Agreement under Premiere Globals 1995 Stock Plan
(incorporated by reference to Exhibit 10.6 to Premiere Globals Quarterly Report on Form 10-
Q for the quarter ended March 31, 2005 and filed on May 6, 2005).
(d)(3)C)
Form of Restricted Stock Award Agreement under Premiere Globals 1995 Stock Plan
(incorporated by reference to Exhibit 10.7 to Premiere Globals Quarterly Report on Form 10-
Q for the quarter ended March 31, 2005 and filed on May 6, 2005).
(d)(4)(A)
2000 Directors Stock Plan, as amended, of Premiere Global Services, Inc. (incorporated by
reference to Appendix C to Premiere Globals Definitive Proxy Statement distributed in
connection with Premiere Globals June 5, 2002 Annual Meeting of Shareholders, filed on
April 30, 2002).
(d)(4)(B)
Form of Restriction Agreement for non-employee directors under the 2000 Directors Stock
Plan (incorporated by reference to Exhibit 10.2 to Premiere Globals Quarterly Report on
Form 10-Q for the quarter ended March 31, 2006 and filed on May 9, 2006).
(d)(5)(A)
2004 Long-Term Incentive
Plan, as amended, of Premiere Global Services, Inc. (incorporated by
reference
to Appendix B to Premiere Globals Definitive Proxy Statement distributed in connection
with Premiere Globals June 3, 2004 Annual Meeting of Shareholders, filed on April 28,
2004).
(d)(5)(B)
Amendment to the Premiere
Global Services, Inc.
2004 Long-Term Incentive Plan, dated September 29, 2006
(incorporated by reference to Exhibit 10.7 to Premiere Globals Quarterly Report on Form 10-
Q dated November 9, 2006 and filed on November 11, 2006).
(d)(5)(C)
Form of NonStatutory Stock Option Agreement under Premiere Globals 2004 Long-Term
Incentive Plan (incorporated by reference to Exhibit 10.4 to Premiere Globals Quarterly
Report on Form 10-Q for the quarter end March 31, 2005 and filed on May 6, 2005).
(d)(5)(D)
Form of Restricted Stock Agreement under Premiere Globals 2004 Long-Term Incentive
Plan (incorporated by reference to Exhibit 10.5 to Premiere Globals Quarterly Report on
Form 10-Q for the quarter ended March 31, 2005 and filed on May 6, 2005).
(d)(6)(A)
Summary of Premiere Globals Non-Employee Director Compensation (incorporated by
reference to Exhibit 10.1 to Premiere Globals Current Report on Form 8-K dated and filed on
December 22, 2005).
(d)(6)(B)
Revised Summary of the Equity Compensation Component to Premiere Globals Non-
Employee Director Compensation (incorporated by reference to Exhibit 10.1 to Premiere
Globals Current Report on Form 8-K dated and filed on July 26, 2006).
(d)(7)(A)
Fourth Amended and Restated Executive Employment Agreement between Boland T. Jones
and Premiere Global, effective January 1, 2005 (incorporated by reference to Exhibit 10.1 to
Premiere Globals Current Report on Form 8-K dated April 20, 2005 and filed on April 20,
2005).
(d)(7)(B)
First Amendment to Fourth Amended and Restated Executive Employment Agreement
between Boland T. Jones and Premiere Global, dated September 15, 2006 (incorporated by
reference to Exhibit 10.3 to Premiere Globals Current Report on Form 8-K dated and filed on
September 19, 2006).
(d)(8)
Form of Restricted Stock Agreement to be issued to Boland T. Jones and Jeffrey A. Allred as
Stock Bonuses pursuant to the terms of their Fourth Amended and Restated Executive
Employment Agreements with Premiere Global (incorporated by reference to Exhibit 10.3 to
(d)(9)
Restricted Stock Agreement between Boland T. Jones and Premiere Global, effective April
18, 2005, under Premiere Globals 1995 Stock Plan (incorporated by reference to Exhibit 10.5
to Premiere Globals Current Report on Form 8-K dated and filed on April 20, 2005).
(d)(10)
Restricted Stock Agreement between Boland T. Jones and Premiere Global, effective April
18, 2005, under Premiere Globals 2004 Long-Term Incentive Plan (incorporated by reference
to Exhibit 10.4 to Premiere Globals Current Report on Form 8-K dated and filed on April 20,
2005).
(d)(11)
Promissory Note, dated October 31, 2000, payable to Premiere Global by Boland T. Jones
(incorporated by reference to Exhibit 10.75 to Amendment No. 1 to Premiere Globals Annual
Report on Form 10-K/A for the year ended December 31, 2002 and filed on December 23,
2003).
(d)(12)
Promissory Note, dated April 17, 2001, payable to Premiere Global by Boland T. Jones
(incorporated by reference to Exhibit 10.79 to Amendment No. 1 to Premiere Globals Annual
Report on Form 10-K/A for the year ended December 31, 2002 and filed on December 23,
2003).
(d)(13)
Promissory Note, dated April 17, 2001, payable to Premiere Global by Boland T. Jones
(incorporated by reference to Exhibit 10.80 to Amendment No. 1 to Premiere Globals Annual
Report on Form 10-K/A for the year ended December 31, 2002 and filed on December 23,
2003).
(d)(14)
Promissory Note, dated April 17, 2001, payable to Premiere Global by Boland T. Jones
(incorporated by reference to Exhibit 10.81 to Amendment No. 1 to Premiere Globals Annual
Report on Form 10-K/A for the year ended December 31, 2002 and filed on December 23,
2003).
(d)(15)
Promissory Note, dated April 17, 2001, payable to Premiere Global by Boland T. Jones
(incorporated by reference to Exhibit 10.82 to Amendment No. 1 to Premiere Globals Annual
Report on Form 10-K/A for the year ended December 31, 2002 and filed on December 23,
2003).
(d)(16)
Stock Pledge Agreement, dated December 29, 1997, by and between Boland T. Jones and
Premiere Global (incorporated by reference to Exhibit 10.71 to Amendment No. 1 to Premiere
Globals Annual Report on Form 10-K/A for the year ended December 31, 2002 and filed on
December 23, 2003).
(d)(17)
Stock Pledge Agreement, dated December 15, 1999, by and between Boland T. Jones and
Premiere Global (incorporated by reference to Exhibit 10.73 to Amendment No. 1 to Premiere
Globals Annual Report on Form 10-K/A for the year ended December 31, 2002 and filed on
December 23, 2003).
(d)(18)
Stock Pledge Agreement, dated October 31, 2000, by and between Boland T. Jones and
Premiere Global (incorporated by reference to Exhibit 10.78 to Amendment No. 1 to Premiere
Globals Annual Report on Form 10-K/A for the year ended December 31, 2002 and filed on
December 23, 2003).
(d)(19)
Agreement for Assignment of Stock Options, dated February 5, 1999, by and among Boland
T. Jones, Seven Gables Management Company, LLC, Seven Gables Partnership, L.P. and
Premiere Global (incorporated by reference to Exhibit 10.74 to Amendment No. 1 to Premiere
Globals Annual Report on Form 10-K/A for the year ended December 31, 2002 and filed on
December 23, 2003).
(d)(20)
Stock Pledge Agreement, dated October 31, 2000, by and between Seven Gables Partnership,
L.P. and Premiere Global (incorporated by reference to Exhibit 10.76 to Amendment No. 1 to
Premiere Globals Annual Report on Form 10-K/A for the year ended December 31, 2002 and
filed on December 23, 2003).
(d)(21)(A)
Fourth Amended and Restated Executive Employment Agreement between Jeffrey A. Allred
and Premiere Global, effective January 1, 2005 (incorporated by reference to Exhibit 10.2 to
(d)(21)(B)
First Amendment to Fourth Amended and Restated Executive Employment Agreement
between Jeffrey A. Allred and Premiere Global, dated September 15, 2006 (incorporated by
reference to Exhibit 10.4 to Premiere Globals Current Report on Form 8-K dated and filed on
September 19, 2006).
(d)(22)
Separation Agreement between Jeffrey A. Allred and Premiere Global, dated December 20,
2006 and effective January 1, 2007 (incorporated by reference to Exhibit 10.66 to Premiere
Globals
Annual
Report on Form 10-K for the year ended December 31, 2007, filed on March 15,
2007).
(d)(23)
Restricted Stock Agreement by and between Jeffrey A. Allred and Premiere Global, dated
May 5, 2006, under Premiere Globals 1995 Stock Plan (incorporated by reference to Exhibit
10.1 to Premiere Globals Current Report on Form 8-K dated May 10, 2006 and filed on May
11, 2006).
(d)(24)
Restricted Stock Agreement between Jeffrey A. Allred and Premiere Global, effective
December 30, 2006, under Premiere Globals 1995 Stock Plan (incorporated by reference to Exhibit 10.67
to Premiere Globals Annual
Report on Form 10-K for the year ended December 31, 2007, filed on
March 15,
2007).
(d)(25)
Amended and Restated Employment Agreement between Theodore P. Schrafft and Premiere
Global, dated September 15, 2006 (incorporated by reference to Exhibit 10.1 to Premiere
Globals Current Report on From 8-K dated and filed September 19, 2006).
(d)(26)
Restricted Stock Agreement by and between Theodore P. Schrafft and Premiere Global, dated
May 5, 2006, under Premiere Globals 1995 Stock Plan (incorporated by reference to Exhibit
10.2 to Premiere Globals Current Report on Form 8-K dated May 10, 2006 and filed on May
11, 2006).
(d)(27)(A)
Employment Letter, dated September 30, 2004, by and between Premiere Global and Michael
E. Havener (incorporated by reference to Exhibit 99.1 to Premiere Globals Current Report on
From 8-K dated September 30, 2004 and filed October 1, 2004).
(d)(27)(B)
Second Amendment to Employment Letter between Premiere Global and Michael E.
Havener, dated April 22, 2005 (incorporated by reference to Exhibit 10.3 to Premiere
Globals Current Report on From 8-K dated and filed April 28, 2005).
(d)(27)(C)
Amendment to Employment Letter between Michael E. Havener and Premiere Global, dated
September 15, 2006 (incorporated by reference to Exhibit 10.5 to Premiere Globals Current
Report on Form 8-K dated and filed on September 19, 2006).
(d)(28)(A)
Amended and Restated Employment Agreement between T. Lee Provow and Premiere
Global, dated September 15, 2006 (incorporated by reference to Exhibit 10.2 to Premiere
Globals Current Report on From 8-K dated and filed September 19, 2006).
(d)(28)(B)
First Amendment to Amended and Restated Employment Agreement between T. Lee Provow
and Premiere Global, dated January 23, 2007 (incorporated by reference to Exhibit 10.68 to Premiere
Globals Annual
Report on Form 10-K for the year ended December 31, 2007, filed on March 15,
2007).
(d)(29)
Restricted Stock Agreement by and between T. Lee Provow and Premiere Global, dated May
5, 2006, under Premiere Globals 1995 Stock Plan (incorporated by reference to Exhibit 10.3
to Premiere Globals Current Report on Form 8-K dated May 10, 2006 and filed on May 11,
2006).
(d)(30)
Restricted Stock Agreement between T. Lee Provow and Premiere Global, dated January 22,
2007, under Premiere Globals 1995 Stock Plan (incorporated by reference to Exhibit 10.69 to Premiere
Globals Annual
Report on Form 10-K for the year ended December 31, 2007, filed on March 15,
2007).
(d)(31)
Amendment and Restatement of Premiere Globals 401(k) Plan, dated December 20, 2006
and effective January 1, 2006 (incorporated by reference to Exhibit 10.65 to Premiere Globals
Annual
Report on Form 10-K for the year ended December 31, 2007, filed on March 15,
2007).
(d)(32)
Warrant to Purchase 250,000 shares of common stock of Premiere Global issued to AT&T
Corp. dated October 20, 2003 (incorporated by reference to Exhibit 10.3 to Premiere Globals
Quarterly Report on Form 10-Q for the quarter ended September 30, 2003 and filed on
November 14, 2003).
(d)(33)
Settlement Agreement, dated April 19, 2007, by and among the Company, Crescendo Partners
II, L.P. Series E, Crescendo Investments II, LLC, Crescendo Advisors II LLC, Eric S.
Committee (incorporated by reference to Exhibit 10.1 to Premiere Globals Current
Report on
Form 8-K dated April 18, 2007 and filed on April 19, 2007).
Number
(b)(1)(A)
Credit Agreement, dated June 30, 2004, among Premiere Global, as Borrower, Certain
Subsidiaries and Affiliates of the Borrower, as Guarantors, the Lenders Party thereto, Bank of
America, N.A., as Administrative Agent and Collateral Agent, and LaSalle Bank National
Association, as Syndication Agent and Co-Lead Arranger (incorporated by reference to
Exhibit 10.1 to Premiere Globals Quarterly Report on Form 10-Q for the quarter ended June
30, 2004 and filed on August 9, 2004).
(b)(1)(B)
Amendment No. 1 to Credit Agreement, dated February 2, 2005, by and among Premiere
Global, as Borrower, Bank of America, N.A., as Administrative Agent, and the Guarantors
and the Lenders that are parties thereto (incorporated by reference Exhibit 10.1 to Premiere
Globals Current Report on Form 8-K dated February 5, 2004 and filed on February 3, 2004).
(b)(1)(C)
Amendment No. 2 and Waiver to Credit Agreement, dated August 3, 2005, by and among
Premiere Global, as Borrower, Bank of America, N.A., as Administrative Agent, and the
Guarantors and the Lenders that are parties thereto (incorporated by reference to Exhibit
10.65 of Premiere Globals Annual Report on Form 10-K for the year ended December 31,
2005 and filed on March 16, 2006).
(b)(1)(D)
Amendment No. 3 to Credit Agreement, dated April 24, 2006, by and among Premiere Global
as Borrower, Bank of America, N.A. as Administrative Agent, and the Guarantors and the
Lenders that are parties thereto (incorporated by reference to Exhibit 10.1 to Premiere
Globals Current Report on Form 8-K dated and filed April 25, 2006).
(b)(1)(E)
Amendment No. 4 and Waiver to Credit Agreement, dated October 3, 2006, by and among
Premiere Global as Borrower, Bank of America, N.A. as Administrative Agent, and the
Guarantors and the Lenders that are parties thereto (incorporated by reference to Exhibit 10.8
to Premiere Globals Quarterly Report on Form 10-Q for quarter ended September 30, 2006
and filed on November 9, 2006).
(b)(1)(F)
Amendment No. 5 and Waiver to Credit Agreement, dated April 19, 2007, by and among
Premiere Global as Borrower, Bank of America, N.A. as Administrative Agent, and the
Guarantors and the Lenders that are parties thereto (incorporated by reference to Exhibit 10.2
to Premiere Globals Current Report on Form 8-K dated and filed on April 19, 2007).
(b)(2)
Security Agreement, dated June 30, 2004, among Premiere Global, American
Teleconferencing Services, Ltd., Premiere Conferencing Network Services, Inc., PTEK
Services, Inc., Xpedite Network Services, Inc., Xpedite Systems, Inc., Xpedite Systems
Worldwide, Inc. and Bank of America, N.A., as Collateral Agent (incorporated by reference
to Exhibit 10.2 to Premiere Globals Quarterly Report on Form 10-Q for the quarter ended
June 30, 2004 and filed on August 9, 2004).
(b)(3)
Pledge Agreement, dated June 30, 2004, among Premiere Global, American Teleconferencing
Services, Ltd., Premiere Conferencing Networks, Inc., PTEK Services, Inc., Xpedite Network
Services, Inc., Xpedite Systems, Inc., Xpedite Systems Worldwide, Inc. and Bank of America,
N.A., as Collateral Agent (incorporated by reference to Exhibit 10.3 to Premiere Globals
Quarterly Report on Form 10-Q for the quarter ended June 30, 2004 and filed on August 9,
2004).
(d)(1)(A)
Amended and Restated 1998 Stock Plan of Premiere Global Services, Inc. (incorporated by
reference to Exhibit 10.1 to Premiere Globals Quarterly Report on Form 10-Q for the quarter
ended June 30, 1999).
(d)(1)(B)
Amendment No. 1 to the Amended and Restated 1998 Stock Plan of Premiere Global
Services, Inc. (incorporated by reference to Exhibit 10.45 to Premiere Globals Annual Report
on Form 10-K for the year ended December 31, 1999).
(d)(2)
Intellivoice Communications,
Inc. 1995 Incentive Stock Plan (assumed by Premiere Global)
(incorporated by reference to Exhibit 10.52 to Premiere Globals Annual Report on Form 10-
K for the year ended December 31, 1999).
(d)(3)(A)
1995 Stock Plan of Premiere Global Services, Inc., as amended (incorporated by reference to
Appendix D to Premiere Globals Definitive Proxy Statement distributed in connection with
Premiere Globals June 5, 2002 Annual Meeting of Shareholders, filed on April 30, 2002).
(d)(3)(B)
Form of NonStatutory Stock Option Agreement under Premiere Globals 1995 Stock Plan
(incorporated by reference to Exhibit 10.6 to Premiere Globals Quarterly Report on Form 10-
Q for the quarter ended March 31, 2005 and filed on May 6, 2005).
(d)(3)C)
Form of Restricted Stock Award Agreement under Premiere Globals 1995 Stock Plan
(incorporated by reference to Exhibit 10.7 to Premiere Globals Quarterly Report on Form 10-
Q for the quarter ended March 31, 2005 and filed on May 6, 2005).
(d)(4)(A)
2000 Directors Stock Plan, as amended, of Premiere Global Services, Inc. (incorporated by
reference to Appendix C to Premiere Globals Definitive Proxy Statement distributed in
connection with Premiere Globals June 5, 2002 Annual Meeting of Shareholders, filed on
April 30, 2002).
(d)(4)(B)
Form of Restriction Agreement for non-employee directors under the 2000 Directors Stock
Plan (incorporated by reference to Exhibit 10.2 to Premiere Globals Quarterly Report on
Form 10-Q for the quarter ended March 31, 2006 and filed on May 9, 2006).
(d)(5)(A)
2004 Long-Term Incentive
Plan, as amended, of Premiere Global Services, Inc. (incorporated by
reference
to Appendix B to Premiere Globals Definitive Proxy Statement distributed in connection
with Premiere Globals June 3, 2004 Annual Meeting of Shareholders, filed on April 28,
2004).
(d)(5)(B)
Amendment to the Premiere
Global Services, Inc. 2004 Long-Term Incentive Plan, dated September
29, 2006
(incorporated by reference to Exhibit 10.7 to Premiere Globals Quarterly Report on Form 10-
Q dated November 9, 2006 and filed on November 11, 2006).
(d)(5)(C)
Form of NonStatutory Stock Option Agreement under Premiere Globals 2004 Long-Term
Incentive Plan (incorporated by reference to Exhibit 10.4 to Premiere Globals Quarterly
Report on Form 10-Q for the quarter end March 31, 2005 and filed on May 6, 2005).
(d)(5)(D)
Form of Restricted Stock Agreement under Premiere Globals 2004 Long-Term Incentive
Plan (incorporated by reference to Exhibit 10.5 to Premiere Globals Quarterly Report on
Form 10-Q for the quarter ended March 31, 2005 and filed on May 6, 2005).
(d)(6)(A)
Summary of Premiere Globals Non-Employee Director Compensation (incorporated by
reference to Exhibit 10.1 to Premiere Globals Current Report on Form 8-K dated and filed on
December 22, 2005).
(d)(6)(B)
Revised Summary of the Equity Compensation Component to Premiere Globals Non-
Employee Director Compensation (incorporated by reference to Exhibit 10.1 to Premiere
Globals Current Report on Form 8-K dated and filed on July 26, 2006).
(d)(7)(A)
Fourth Amended and Restated Executive Employment Agreement between Boland T. Jones
and Premiere Global, effective January 1, 2005 (incorporated by reference to Exhibit 10.1 to
Premiere Globals Current Report on Form 8-K dated April 20, 2005 and filed on April 20,
2005).
(d)(7)(B)
First Amendment to Fourth Amended and Restated Executive Employment Agreement
between Boland T. Jones and Premiere Global, dated September 15, 2006 (incorporated by
reference to Exhibit 10.3 to Premiere Globals Current Report on Form 8-K dated and filed on
September 19, 2006).
(d)(8)
Form of Restricted Stock Agreement to be issued to Boland T. Jones and Jeffrey A. Allred as
Stock Bonuses pursuant to the terms of their Fourth Amended and Restated Executive
Employment Agreements with Premiere Global (incorporated by reference to Exhibit 10.3 to
(d)(9)
Restricted Stock Agreement between Boland T. Jones and Premiere Global, effective April
18, 2005, under Premiere Globals 1995 Stock Plan (incorporated by reference to Exhibit 10.5
to Premiere Globals Current Report on Form 8-K dated and filed on April 20, 2005).
(d)(10)
Restricted Stock Agreement between Boland T. Jones and Premiere Global, effective April
18, 2005, under Premiere Globals 2004 Long-Term Incentive Plan (incorporated by reference
to Exhibit 10.4 to Premiere Globals Current Report on Form 8-K dated and filed on April 20,
2005).
(d)(11)
Promissory Note, dated October 31, 2000, payable to Premiere Global by Boland T. Jones
(incorporated by reference to Exhibit 10.75 to Amendment No. 1 to Premiere Globals Annual
Report on Form 10-K/A for the year ended December 31, 2002 and filed on December 23,
2003).
(d)(12)
Promissory Note, dated April 17, 2001, payable to Premiere Global by Boland T. Jones
(incorporated by reference to Exhibit 10.79 to Amendment No. 1 to Premiere Globals Annual
Report on Form 10-K/A for the year ended December 31, 2002 and filed on December 23,
2003).
(d)(13)
Promissory Note, dated April 17, 2001, payable to Premiere Global by Boland T. Jones
(incorporated by reference to Exhibit 10.80 to Amendment No. 1 to Premiere Globals Annual
Report on Form 10-K/A for the year ended December 31, 2002 and filed on December 23,
2003).
(d)(14)
Promissory Note, dated April 17, 2001, payable to Premiere Global by Boland T. Jones
(incorporated by reference to Exhibit 10.81 to Amendment No. 1 to Premiere Globals Annual
Report on Form 10-K/A for the year ended December 31, 2002 and filed on December 23,
2003).
(d)(15)
Promissory Note, dated April 17, 2001, payable to Premiere Global by Boland T. Jones
(incorporated by reference to Exhibit 10.82 to Amendment No. 1 to Premiere Globals Annual
Report on Form 10-K/A for the year ended December 31, 2002 and filed on December 23,
2003).
(d)(16)
Stock Pledge Agreement, dated December 29, 1997, by and between Boland T. Jones and
Premiere Global (incorporated by reference to Exhibit 10.71 to Amendment No. 1 to Premiere
Globals Annual Report on Form 10-K/A for the year ended December 31, 2002 and filed on
December 23, 2003).
(d)(17)
Stock Pledge Agreement, dated December 15, 1999, by and between Boland T. Jones and
Premiere Global (incorporated by reference to Exhibit 10.73 to Amendment No. 1 to Premiere
Globals Annual Report on Form 10-K/A for the year ended December 31, 2002 and filed on
December 23, 2003).
(d)(18)
Stock Pledge Agreement, dated October 31, 2000, by and between Boland T. Jones and
Premiere Global (incorporated by reference to Exhibit 10.78 to Amendment No. 1 to Premiere
Globals Annual Report on Form 10-K/A for the year ended December 31, 2002 and filed on
December 23, 2003).
(d)(19)
Agreement for Assignment of Stock Options, dated February 5, 1999, by and among Boland
T. Jones, Seven Gables Management Company, LLC, Seven Gables Partnership, L.P. and
Premiere Global (incorporated by reference to Exhibit 10.74 to Amendment No. 1 to Premiere
Globals Annual Report on Form 10-K/A for the year ended December 31, 2002 and filed on
December 23, 2003).
(d)(20)
Stock Pledge Agreement, dated October 31, 2000, by and between Seven Gables Partnership,
L.P. and Premiere Global (incorporated by reference to Exhibit 10.76 to Amendment No. 1 to
Premiere Globals Annual Report on Form 10-K/A for the year ended December 31, 2002 and
filed on December 23, 2003).
(d)(21)(A)
Fourth Amended and Restated Executive Employment Agreement between Jeffrey A. Allred
and Premiere Global, effective January 1, 2005 (incorporated by reference to Exhibit 10.2 to
(d)(21)(B)
First Amendment to Fourth Amended and Restated Executive Employment Agreement
between Jeffrey A. Allred and Premiere Global, dated September 15, 2006 (incorporated by
reference to Exhibit 10.4 to Premiere Globals Current Report on Form 8-K dated and filed on
September 19, 2006).
(d)(22)
Separation Agreement between Jeffrey A. Allred and Premiere Global, dated December 20,
2006 and effective January 1, 2007 (incorporated by reference to Exhibit 10.66 to Premiere Globals
Annual
Report on Form 10-K for the year ended December 31, 2007, filed on March 15,
2007).
(d)(23)
Restricted Stock Agreement by and between Jeffrey A. Allred and Premiere Global, dated
May 5, 2006, under Premiere Globals 1995 Stock Plan (incorporated by reference to Exhibit
10.1 to Premiere Globals Current Report on Form 8-K dated May 10, 2006 and filed on May
11, 2006).
(d)(24)
Restricted Stock Agreement between Jeffrey A. Allred and Premiere Global, effective
December 30, 2006, under Premiere Globals 1995 Stock Plan (incorporated by reference to
Exhibit 10.67
to Premiere Globals Annual
Report on Form 10-K for the year ended December 31, 2007,
filed on March 15,
2007).
(d)(25)
Amended and Restated Employment Agreement between Theodore P. Schrafft and Premiere
Global, dated September 15, 2006 (incorporated by reference to Exhibit 10.1 to Premiere
Globals Current Report on From 8-K dated and filed September 19, 2006).
(d)(26)
Restricted Stock Agreement by and between Theodore P. Schrafft and Premiere Global, dated
May 5, 2006, under Premiere Globals 1995 Stock Plan (incorporated by reference to Exhibit
10.2 to Premiere Globals Current Report on Form 8-K dated May 10, 2006 and filed on May
11, 2006).
(d)(27)(A)
Employment Letter, dated September 30, 2004, by and between Premiere Global and Michael
E. Havener (incorporated by reference to Exhibit 99.1 to Premiere Globals Current Report on
From 8-K dated September 30, 2004 and filed October 1, 2004).
(d)(27)(B)
Second Amendment to Employment Letter between Premiere Global and Michael E.
Havener, dated April 22, 2005 (incorporated by reference to Exhibit 10.3 to Premiere
Globals Current Report on From 8-K dated and filed April 28, 2005).
(d)(27)(C)
Amendment to Employment Letter between Michael E. Havener and Premiere Global, dated
September 15, 2006 (incorporated by reference to Exhibit 10.5 to Premiere Globals Current
Report on Form 8-K dated and filed on September 19, 2006).
(d)(28)(A)
Amended and Restated Employment Agreement between T. Lee Provow and Premiere
Global, dated September 15, 2006 (incorporated by reference to Exhibit 10.2 to Premiere
Globals Current Report on From 8-K dated and filed September 19, 2006).
(d)(28)(B)
First Amendment to Amended and Restated Employment Agreement between T. Lee Provow
and Premiere Global, dated January 23, 2007 (incorporated by reference to Exhibit 10.68 to Premiere
Globals Annual
Report on Form 10-K for the year ended December 31, 2007, filed on March 15,
2007).
(d)(29)
Restricted Stock Agreement by and between T. Lee Provow and Premiere Global, dated May
5, 2006, under Premiere Globals 1995 Stock Plan (incorporated by reference to Exhibit 10.3
to Premiere Globals Current Report on Form 8-K dated May 10, 2006 and filed on May 11,
2006).
(d)(30)
Restricted Stock Agreement between T. Lee Provow and Premiere Global, dated January 22,
2007, under Premiere Globals 1995 Stock Plan (incorporated by reference to Exhibit 10.69 to Premiere
Globals Annual
Report on Form 10-K for the year ended December 31, 2007, filed on March 15,
2007).
(d)(31)
Amendment and Restatement of Premiere Globals 401(k) Plan, dated December 20, 2006
and effective January 1, 2006 (incorporated by reference to Exhibit 10.65 to Premiere Globals Annual
Report on Form 10-K for the year ended December 31, 2007, filed on March 15,
2007).
(d)(32)
Warrant to Purchase 250,000 shares of common stock of Premiere Global issued to AT&T
Corp. dated October 20, 2003 (incorporated by reference to Exhibit 10.3 to Premiere Globals
Quarterly Report on Form 10-Q for the quarter ended September 30, 2003 and filed on
November 14, 2003).
(d)(33)
Settlement Agreement, dated April 19, 2007, by and among the Company, Crescendo Partners
II, L.P. Series E, Crescendo Investments II, LLC, Crescendo Advisors II LLC, Eric S.
Committee (incorporated by reference to Exhibit 10.1 to Premiere Globals Current
Report on
Form 8 dated April 18, 2007 and filed on April 19, 2007).
Exhibit (a)(1)(i)
Offer to Purchase for Cash
by
Premiere Global Services, Inc.
of
Up to 11,857,707 Shares of Its Common Stock
At a Purchase Price of $12.65 Per Share
Banc of America Securities LLC
Wachovia Securities
April 23, 2007
IMPORTANT
TABLE OF CONTENTS
Page No.
Summary Term Sheet
1
Forward-Looking Statements
10
12
13
1
.
Number of Shares; Purchase Price; Proration
13
2
.
Purpose of the Tender Offer; Certain Effects of the Tender Offer
15
3
.
Procedures for Tendering Shares
17
4
.
Withdrawal Rights
21
5
.
Purchase of Shares and Payment of Purchase Price
22
6
.
Conditional Tender of Shares
23
7
.
Conditions of the Offer
23
8
.
Price Range of Shares; Dividends
25
9
.
Source and Amount of Funds
25
10
.
Certain Information Concerning Us
27
11
.
Interests of Directors and Executive Officers; Transactions and Arrangements
Concerning the Shares
28
12
.
Effects of the Offer on the Market for Shares; Registration under the Exchange Act
31
13
.
Certain Legal Matters; Regulatory Approvals
32
14
.
Certain United States Federal Income Tax Consequences
32
15
.
Extension of the Offer; Termination; Amendment
37
16
.
Fees and Expenses
38
17
.
Miscellaneous
39
SUMMARY TERM SHEET
How do I withdraw shares I previously tendered?
In what order will you purchase the tendered shares?
If I own fewer than 100 shares and I tender all of my shares, will I be subject to proration?
Will I have to pay brokerage commissions if I tender my shares?
Will I have to pay stock transfer tax if I tender my shares?
What are the United States federal income tax consequences if I tender my Shares?
FORWARD-LOOKING STATEMENTS
INTRODUCTION
THE OFFER
High
Low
2005
First Quarter
$
11.32
$
9.45
Second Quarter
11.89
10.29
Third Quarter
12.08
7.89
Fourth Quarter
8.65
7.27
2006
First Quarter
$
7.98
$
9.22
Second Quarter
8.09
7.28
Third Quarter
8.86
7.13
Fourth Quarter
9.44
8.00
2007
First Quarter
$
11.25
$
8.50
Second Quarter (through April 20, 2007)
12.45
11.16
501 Madison Avenue, 20th Floor
New York, NY 10022
Shareholders call toll free at: (888) 750-5834
Banks and brokers call collect at: (212) 750-5833
Name
As
of April 19, 2007,
number of shares of
common stock
beneficially owned
Percent
of Class
Percentage Owned
After Tender Offer
(with above
stated assumption)
Boland T. Jones
4,152,056
(2)
5.9
Michael E. Havener
83,633
(3)
*
*
Jeffrey T. Arnold
151,403
(4)
*
*
Wilkie S. Colyer
122,353
(5)
*
*
John R. Harris
112,353
(6)
*
*
W. Steven Jones
*
*
Raymond H. Pirtle, Jr.
2,193
(7)
*
*
J. Walker Smith, Jr.
111,403
(8)
*
*
Theodore P. Schrafft
453,265
(9)
*
*
T. Lee Provow
567,824
(10)
*
*
All current executive officers and
directors as a group (11 persons)
5,756,483
(11)
8.1
9.8
*
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
Transactions in Subject Securities in Last Sixty Days
Name of
Person who
Effected
Transaction
Date of
Transaction
Amount of
Securities
Involved
Price Per
Share
Where and How the Transaction was Effected
Boland T. Jones
February 26, 2007
11,764
$
0.00
Acquired shares through a restricted stock award
granted under the Premiere Global Services, Inc.s 2004
Long-Term Incentive Plan. Shares vested February 26,
2007 with an 18-month holding period restriction.
Boland T. Jones
February 26, 2007
4,287
$
10.82
Shares withheld to satisfy the reporting persons tax
liability applicable to the vesting of restricted stock on
February 26, 2007.
Boland T. Jones
March 31, 2007
16,401
$
11.22
Shares withheld to satisfy the reporting persons tax
liability applicable to the vesting of restricted stock on
March 31, 2007.
Travis Lee Provow
March 31, 2007
4,775
$
11.22
Shares withheld to satisfy the reporting persons tax
liability applicable to the vesting of restricted stock on
March 31, 2007.
Schrafft P. Theodore
March 31, 2007
6,367
$
11.22
Shares withheld to satisfy the reporting persons tax
liability applicable to the vesting of restricted stock on
March 31, 2007.
Name
Amount of Loan
Interest
Rate
Due Date
Shares
Pledged
Value of Collateral
as of 12/31/05
Boland T. Jones
$
1,431,327
5.96
%
10/31/10
1,330,753
$
12,562,308
*
396,856
4.94
%
12/29/07
100,000
944,000
24,323
4.94
%
12/15/09
24,000
226,560
95,191
5.43
%
10/31/10
1,330,753
*
12,562,308
*
56,701
5.43
%
10/31/10
239,624
2,262,051
$
2,004,398
$
15,994,919
*
*
Operations Center
Attn: Reorganization Department
6201 15th Avenue
Brooklyn, NY 11219
Attn: Reorganization Department
59 Maiden Lane
New York, NY 10038
Fax Number: (718)-234-5001
INNISFREE M&A INCORPORATED
501 Madison Avenue, 20th Floor
New York, NY 10022
Shareholders call toll free at: (888) 750-5834
Banks and brokers call collect at: (212) 750-5833
9 West 57th Street
New York, NY 10019
Tel: (212) 583-8426
Toll Free: (888) 583-8900 ext. 8426
375 Park Avenue, 4th Floor
New York, NY 10152
Attn: Tom Yates Tel: (212) 214-6129
Toll Free:
(800) 532-2916
%/A7X7N-5BBOB)-.O[R3Q,UG!
M(+^6TMEM+%)4B2)%_M*)C
Pursuant to the Offer to Purchase
Dated April 23, 2007
(See Instructions 3 and 4)
(If blank, please fill in exactly as name(s) appear(s) on certificate(s))
(Attach additional list, if necessary. See Instruction 3)
Number(s)*
Shares
Represented
by Certificate*
Shares
Tendered**
Tendered:
*
Need not be completed if
transfer is to be made by book-entry transfer.
(See Instruction 13)
(See Instruction 14)
(See Instructions 1, 5, 6 and 7)
(Also Please Complete Substitute Form W-9 Below
or Appropriate Internal Revenue Service Form W-8)
Signature(s) Guarantees
(See Instructions 1 and 6)
PLACE MEDALLION GUARANTEE IN SPACE BELOW.
(See Instruction 10)
Form W-9
Department of the Treasury
Internal Revenue Service
Payers Request for
Taxpayer Identification
Number
Note: If the account
is in more than one name, see chart in the enclosed Guidelines to determine which number to
give the payer
Part II For Payees exempt from
backup withholding, see the enclosed Guidelines
and complete as instructed therein.
Employer Identification Number
(If awaiting
Taxpayer Identification Number,
write (Applied For))
APPLIED FOR IN PART I OF THIS SUBSTITUTE FORM W-9
NUMBER ON SUBSTITUTE FORM W-9
NUMBER OF SUBSTITUTE FORM W-9
(continued)
501 Madison Avenue
New York, NY 10022
Shareholders call toll free: 1-888-750-5834
Banks and Brokerage Firms, Please call collect: (212) 750-5833
MONDAY, MAY 21, 2007, UNLESS THE OFFER IS EXTENDED.
(See Instruction 13 of the Letter of Transmittal)
(See Instruction 14 of the Letter of Transmittal)
TENDERING ALL SHARES ACTUALLY AND CONSTRUCTIVELY OWNED
(To be completed only by Non-United States Holders who are tendering all of
their shares.
See Instruction 10 of the Letter of Transmittal)
(Not to be used for Signature Guarantee)
Guaranteeing Delivery
CERTIFICATES MUST BE SENT WITH THE LETTER OF TRANSMITTAL.
Chief Executive Officer
!#N<_N(8G(E>9T96=4!UZU>_H^JWA3*2ESH]I;&R%Q$G5W
MS\<3Y(E(R4F"^F01N&
by
At a Purchase Price
of $12.65 per share
YORK CITY TIME, ON MONDAY, MAY 21, 2007, UNLESS THE OFFER IS EXTENDED.
by
Up to 11,857,707 Shares of Its Common Stock
At a Purchase Price of $12.65 per share
RIGHTS EXPIRE AT 5:00 P.M., NEW YORK CITY TIME,
ON MONDAY, MAY 21, 2007, UNLESS THE OFFER IS EXTENDED.
the Account of the Undersigned: ________________ Shares.
Services, Inc. 401(k) Plan
PREMIERE TENDER OFFER
OFFER TO PURCHASE AND ALL OTHER ENCLOSED MATERIALS