Genie Energy Ltd., (NYSE: GNE) announced that the expiration date for
its pending exchange offer of up to 8,750,000 shares of Class B Common
Stock for shares of Series 2012-A Preferred Stock on a one for one
basis, has been extended to Wednesday, October 10, 2012 at 5:00 p.m.,
New York City time. On the expiration date, all validly tendered shares
of Genie Class B Common Stock not previously withdrawn will be accepted
for exchange pursuant to the terms of the exchange offer.
Genie also announced that it filed an amended Schedule TO, including a
revised Offer to Exchange disclosure document, to address comments
received from the Staff of the Securities and Exchange Commission, and
other clarifications to the disclosure that will be sent to holders of
its Class B Common Stock. The revised Offer to Exchange can also be
obtained free of charge from the Securities and Exchange Commission at
its website (www.sec.gov),
upon request to Genie Energy Ltd., 550 Broad Street, Newark, New Jersey
07102, Attention: Bill Ulrey, Vice President-Investor Relations and
External Affairs, Telephone: (973) 438-3838 or by sending an email to invest@genie.com
and through the investor's page of the Company's website at www.genie.com/investors.
Genie has been advised that, as of 5:00 p.m. New York City time on
September 18, 2012, 1,111,354 shares of Class B Common Stock had been
tendered for exchange.
Exchange Offer Statement
This press release is for informational purposes only and is neither
an offer to exchange nor the solicitation of an offer to tender any
shares. The exchange offer is made solely by the definitive Offer to
Exchange, related Letter of Transmittal and other related documents.
Each holder of our Class B Common Stock is urged to consult their tax
advisor as to the particular tax consequences of the exchange offer to
such stockholder. The materials have been included as exhibits to
Genie's exchange offer statement on Schedule TO, which was filed with
the Securities and Exchange Commission. These exchange offer materials
contain important information that stockholders are urged to read
carefully before making any decision with respect to the offer.
Investors may obtain copies of these documents for free from the
Securities and Exchange Commission at its website (www.sec.gov).
ABOUT GENIE ENERGY LTD.
Genie Energy Ltd. (NYSE: GNE) is comprised of IDT Energy and Genie Oil
and Gas (GOGAS). IDT Energy is a retail energy provider (REP) supplying
electricity and natural gas to residential and small business customers
in the Northeastern United States. GOGAS is pioneering technologies to
produce clean and affordable transportation fuels from the world's
abundant oil shale and other unconventional fuel resources. GOGAS
resource development projects include oil shale initiatives in Colorado
and Israel. For more information, visit www.genie.com.
Genie Energy Investor Relations
Bill Ulrey, 973-438-3848
invest@genie.com