OTTAWA, Sept. 28, 2012 /CNW/ - Thermal Energy International Inc. (TSXV:
TMG), a leading provider of custom energy and emission reduction
technologies for energy intensive industries worldwide, announced today
that the board of directors of the Company has adopted a shareholder
Rights Plan, effective September 28, 2012 (the "Rights Plan"). The
objective of the Rights Plan is to ensure, to the extent possible, that
share value is maximized and that all shareholders of the Company are
treated equally and fairly in connection with any initiative to acquire
control of the Company.
The Rights Plan is not intended to and will not prevent a take-over of
the Company. The Rights Plan is based on industry standard terms which
are compliant with guidelines published by leading corporate governance
organizations for shareholder rights plans for TSX Venture Exchange
The purpose of the Rights Plan is to encourage a potential bidder to
make a "Permitted Bid", having terms and conditions designed to meet
the objectives of the Rights Plan, or to negotiate the terms of an
offer with the Company. A Permitted Bid is a take-over bid that is made
to all holders of voting shares of the Company (other than the bidder)
for all of the voting shares held by them, by way of a take-over bid
circular prepared in compliance with applicable securities laws, that
remains open for acceptance by shareholders of the Company for 60 days
(or such shorter period of time as may be approved by the board of
directors of the Company from time to time), and that satisfies certain
The Rights Plan is subject to approval by the TSX Venture Exchange and
will be presented for ratification by the shareholders of the Company
at its next annual meeting, scheduled for October 25, 2012.
The Company is not aware of any specific take-over bid for the Company
that has been made or is contemplated.
A complete copy of the Rights Plan is available upon request and will be
filed by the Company at www.SEDAR.com. Shareholders wishing to receive a copy of the Rights Plan should make
their request to the Company at its principal office at 36 Bentley
Avenue, First Floor, Ottawa, Ontario, K2E 6T8, by facsimile to the
Company at (613) 723-7286 or by e-mail to email@example.com.
About Thermal Energy International Inc.
Thermal Energy International Inc. is an innovative cleantech company
providing a variety of proprietary and proven energy efficiency,
emission reduction, water efficiency, and bioenergy products and
solutions to the industrial, commercial and institutional markets
worldwide. Thermal Energy is also a fully accredited professional
engineering firm, and can offer advanced process and applications
engineering services. By providing a unique mix of proprietary products
together with process, energy, environmental, and financial expertise
Thermal Energy is able to deliver significant financial and
environmental benefits to its customers.
Thermal Energy's products include; GEM® - Steam traps and condensate return systems, FLU-ACE® - Direct contact condensing heat recovery, and Dry RexTM - Low temperature biomass drying systems. These award winning products
are effective in a wide variety of industries and application and have
an excellent track record of longevity, proven reliability and
performance providing significant energy savings, reduced GHG
emissions, improved water efficiency, lower maintenance costs, improved
product quality and increased production efficiency.
Thermal Energy International Inc. has offices in Ottawa, Canada as well
as Bristol, UK, United States, Italy and China. To find out more about
Thermal Energy International Inc. (TSXV: TMG), visit our website at http://www.thermalenergy.com.
This press release contains forward-looking statements relating to, and
amongst other things, based on management's expectations, estimates and
projections with respect to the anticipated receipt of funding based on
ISTP approval, results and timing of research, the anticipated
effectiveness of the Company's products and services and the revenues
to be received by the Company from the project described. These
statements are not guarantees of future performance and involve a
number of risks, uncertainties and assumptions. Many factors, some of
which are outside of the Company's control, could cause events and
results to differ materially from those stated. The Company disclaims
any obligation to publicly update or revise any such statements.
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: Thermal Energy International Inc.
For further information:
President and CEO
Thermal Energy International Inc.
The Equicom Group