Exhibit (a)(1)(D)
OFFER TO PURCHASE FOR CASH
BY
MARINE PRODUCTS CORPORATION
OF UP TO 3,200,000 OF ITS OUTSTANDING COMMON SHARES
AT A PURCHASE PRICE OF $9.00 PER SHARE
THE TENDER OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 11:59 P.M.,
NEW YORK CITY TIME, ON NOVEMBER 1, 2016, UNLESS THE TENDER OFFER IS EXTENDED.
August 26, 2016
To Brokers, Dealers, Commercial Banks,
Trust Companies and Other Nominees:
Marine Products Corporation, a Delaware corporation (the “Company”), has appointed us to act as the Information Agent in connection with its offer to purchase up to 3,200,000 shares of its common stock, par value $0.10 per share, at a purchase price of $9.00 per share, in cash, less any applicable withholding taxes and without interest, upon the terms and subject to the conditions set forth in its Offer to Purchase, dated August 26, 2016, and in the related Letter of Transmittal, which, as amended and supplemented from time to time, together constitute the tender offer. Unless the context otherwise requires, all references to shares shall refer to the shares of common stock, par value $0.10 per share, of the Company.
Only shares properly tendered and not properly withdrawn will be purchased, upon the terms and subject to the conditions of the tender offer, including the “one share” priority, proration and conditional tender provisions thereof. Shares tendered but not purchased pursuant to the tender offer will be returned at the Company’s expense promptly after the expiration date. The Company reserves the right, in its sole discretion, to purchase up to 3,500,000 shares in the tender offer, subject to applicable law. See Section 1 of the Offer to Purchase.
If the number of shares properly tendered and not properly withdrawn prior to the expiration date is fewer than or equal to 3,200,000 shares, or such greater number of shares as the Company may elect to purchase, subject to applicable law, the Company will, upon the terms and subject to the conditions of the tender offer, purchase all such shares.
Upon the terms and subject to the conditions of the tender offer, if greater than 3,200,000 shares, or such greater number of shares as the Company may elect to purchase, subject to applicable law, have been properly tendered and not properly withdrawn prior to the expiration date, the Company will purchase properly tendered shares on the following basis. First, the Company will purchase all shares properly tendered and not properly withdrawn prior to the expiration date by any shareholder who owns only one share, of record or beneficially, and who (a) tenders such share, and (b) completes the section entitled “Holders of One Share Only” in the Letter of Transmittal and, if applicable, in the Notice of Guaranteed Delivery. Second, after the purchase of all of the shares tendered by holders of one share only, subject to the conditional tender provisions described in Section 6 of the Offer to Purchase, the Company will purchase all other shares properly tendered and not properly withdrawn prior to the expiration date, on a pro rata basis, with appropriate adjustments to avoid purchases of fractional shares, from all other stockholders who properly tender shares and do not properly withdraw them before the expiration of the tender offer. Third, only if necessary to permit the Company to purchase 3,200,000 shares (or such greater number of shares as the Company may elect to purchase, subject to applicable law), the Company will purchase shares conditionally tendered (for which the condition was not initially satisfied) and not properly withdrawn prior to the expiration date, 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.
THE OFFER IS NOT CONDITIONED UPON ON ANY MINIMUM NUMBER OF SHARES BEING TENDERED. THE OFFER IS, HOWEVER, SUBJECT TO OTHER CONDITIONS. SEE SECTION 7 OF THE OFFER TO PURCHASE.