TORONTO, July 17, 2012 /CNW/ - Spara Acquisition One Corp. (the "Corporation") (TSXV: SAO.P) announced that it has filed and received a receipt for
a preliminary non-offering prospectus with the Ontario Securities
Commission in connection with the Corporation's proposed acquisition of
all of the issued and outstanding securities of STE (Clean Recycling
and Energy) plc ("STE") which was previously announced (the "Transaction").
Neither the preliminary prospectus, nor its filing with the Ontario
Securities Commission, its publication on www.SEDAR.com or this press release, constitutes the announcement or making of any
offer by the Corporation for any securities of STE, whether for the
purposes of Rule 2.7 of the United Kingdom's City Code on Takeovers and
Mergers, or otherwise. There is no certainty that any such offer will
be made, nor as to the terms of any such offer (if made), and the
Corporation has no obligation or commitment to make any such offer.
About Spara Acquisition One Corp.
The Corporation is a Capital Pool Company listed on the TSX Venture
Exchange (the "TSXV"). The Corporation has not commenced commercial operations and has no
assets other than cash. The Transaction, if completed, will constitute
the Corporation's "Qualifying Transaction", as defined in TSXV
About STE (Clean Recycling and Energy) plc
STE is a Jersey, Channel Islands domiciled company, with a 100% owned UK
based waste management business focused on recycling and green energy
operating under the trade name Sterecycle®.
Further details about the proposed transaction and the combined entity
are provided in the preliminary prospectus filed July 16, 2012.
Completion of the Transaction is subject to a number of conditions,
including but not limited to, TSXV acceptance and if applicable
pursuant to TSXV requirements, majority of the minority shareholder
approval. Where applicable, the Transaction cannot close until the
required shareholder approval is obtained. There can be no assurance
that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the preliminary
prospectus and as disclosed in any final prospectus eventually filed in
connection with the Transaction, any information released or received
with respect to the Transaction may not be accurate or complete and
should not be relied upon. Trading in the securities of a capital pool
company should be considered highly speculative.
The TSXV has in no way passed upon the merits of the proposed
transaction and has neither approved nor disapproved the contents of
this press release.
The Corporation will engage a sponsor in connection with the Transaction
if required in accordance with the requirements of the TSXV.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Spara Acquisition One Corp.
For further information:
Spara Acquisition One Corp.