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Exhibit(a)(5)(C)
[Hooker Furniture Corporation Letterhead]
PRESS RELEASE
Contact: E. Larry Ryder FOR IMMEDIATE RELEASE
Phone: (540) 656-3314 10 AM EDT September 11, 2000
HOOKER FURNITURE CORPORATION ANNOUNCES PRELIMINARY RESULTS OF
TENDER OFFER BY ESOP TRUST TO PURCHASE UP TO 1,800,000 SHARES OF
HOOKER'S COMMON STOCK
MARTINSVILLE, VIRGINIA (September 11, 2000): HOOKER FURNITURE CORPORATION today
announced the preliminary results of the tender offer by the Hooker Furniture
Corporation Employee Stock Ownership Plan Trust (the "ESOP Trust") to purchase
up to 1,800,000 shares of Hooker's common stock, which expired at 5:00 P.M., New
York City time, on Friday, September 8, 2000.
Based on a preliminary count by the depositary for the tender offer,
approximately 3,542,348 shares of common stock, representing approximately
46.50% of the company's outstanding shares, were properly tendered and not
properly withdrawn prior to expiration of the offer, 1,800,000 of which the ESOP
Trust expects to purchase at the offer price of $12.50 per share.
Hooker has been informed by the depositary that the preliminary proration factor
for the offer was approximately 50.81%, but the final results of the proration
may not be available for several days. The determination of the actual proration
factor is subject to final confirmation of the proper delivery of all shares
tendered and not withdrawn, including shares tendered pursuant to the guaranteed
delivery procedure. Payment for shares accepted in the tender offer and the
return of shares not accepted for purchase will be made by the depositary
promptly following its determination of the final results of the proration.
The ESOP Trust commenced the tender offer on August 9, 2000, when it offered to
purchase up to 1,800,000 shares of Hooker's common stock at a price of $12.50
per share net to the seller in cash, without interest. As of September 11, 2000,
Hooker had approximately 7,617,298 million shares issued and outstanding. The
completion of the tender offer will not change the number of shares issued and
outstanding.
Hooker Furniture Corporation is a leading manufacturer of wood furniture selling
in the upper-medium price range of the residential market. Manufacturing
facilities are located in Martinsville and Roanoke, VA, and Kernersville,
Pleasant Garden, and Maiden, NC.
For further information, contact E. Larry Ryder, Senior Vice President--Finance
and Administration (540) 656-3314.
