MONTREAL, Aug. 15 /CNW Telbec/ - BMTC Group Inc. announced that it will
offer to purchase up to 4,000,000 of its Class A subordinate voting shares
("Class A shares") at a price of $20 per share. If shareholders deposit more
than 4,000,000 Class A shares in response to the offer, deposited shares will
be taken up on a pro rata basis, disregarding fractions, according to the
number of Class A shares deposited by each depositing shareholder.
The offer is made only for the Class A shares, listed on the Toronto
Stock Exchange, and is not made for the Class B multiple voting shares ("Class
B shares"), which are not listed on any stock exchange. Any holder of Class B
shares who wishes to accept the offer will be able, in accordance with the
terms of the Class B shares, to exercise the right of conversion attached to
such Class B shares and convert such shares into the Class A shares and
thereafter deposit such Class A shares under the offer.
A. Bélanger (Détail) Ltée, a company controlled by Mr. Yves
Des Groseillers, has agreed to maintain, as a result of purchases under the
offer, the percentage of voting rights attaching to all Class A shares and
Class B shares that it holds to its current level of 49.96%.
The offer is expected to expire at noon, Montreal time, on September 30,
2008, unless withdrawn, extended or varied by the Company. The offer is
subject to various conditions typical of transactions of this nature although
it is not conditional on any minimum number of Class A shares being deposited.
Full particulars of the offer will be contained in an issuer bid circular that
is expected to be mailed to shareholders on August 22, 2008.
Neither the company nor its board of directors makes any recommendation
to shareholders as to whether to deposit or refrain from depositing Class A
shares under the offer. Shareholders are strongly encouraged to review the
offer documents carefully and to consult with their financial and tax advisors
prior to making any decision with respect to the offer.
BMTC Group inc., which Class A Subordinate Voting Shares are listed on
the Toronto Stock Exchange, is an important retailer of furniture, electronic
goods and household appliances in the areas of Montreal, Quebec City,
Repentigny, Ste-Therese, Laval, Longueuil, Kirkland, St-Georges,
Trois-Rivières, Sherbrooke, Chicoutimi, Rivière-du-Loup, Rimouski, Levis,
Beauport, Ste-Foy, Gatineau, Ste-Hyacinthe, St-Jean-sur-le-Richelieu, Granby,
Vaudreuil, Mascouche and St-Jérôme through its subsidiaries Brault & Martineau
and Ameublements Tanguay.
For further information:
For further information: Mr. Yves Des Groseillers, Chairman, President
and Chief Executive Officer, BMTC Group Inc., (514) 648-5757