- Offer Extended to April 13, 2007
MONTREAL, April 2 /CNW Telbec/ - (NYSE: CGT; TSX: CAE) - CAE Inc. and
4341392 Canada Inc. (collectively the "Offeror") announced today that the cash
offer (the "Offer") made to purchase all of the issued and outstanding common
shares of Engenuity Technologies Inc. ("Engenuity") including common shares
issuable upon the exercise of outstanding options (the "Engenuity Common
Shares") has been successfully completed. The Offeror will control, upon
take-up of the Engenuity Common Shares deposited in the Offer, approximately
85.4% of the issued and outstanding Engenuity Common Shares.
The Offeror has advised Engenuity that 14,902,225 Engenuity Common Shares
representing approximately 85.4% of the outstanding Engenuity Common Shares
were validly tendered to the Offer as at 5:00 p.m. (Montreal time) on
March 30, 2007.
As all conditions to the Offer have been satisfied, the Offeror has
instructed the Depositary, Computershare Investor Services Inc., to take up
and pay for all of the Engenuity Common Shares deposited to the Offer on the
basis of Cdn. $1.20 per Engenuity Common Shares. Payment to Engenuity
shareholders who deposited their Engenuity Common Shares to the Offer is
expected to be made on or about April 3, 2007.
In order to acquire 90% of the outstanding Engenuity Common Shares (as
required to effect a compulsory acquisition of the Engenuity Common Shares not
deposited to the Offer), the Offeror has extended the Offer to enable those
shareholders who have not yet tendered to deposit their Engenuity Common
Shares to the Offer. The Offer, as extended, will now expire at 8:00 a.m.
(Montreal time) on April 13, 2007. If less than 90% of the Engenuity Common
Shares are deposited, the Offeror intends to effect a subsequent acquisition
transaction to acquire the remaining Engenuity Common Shares, as described in
the take-over bid circular.
Upon completion of the compulsory acquisition or subsequent acquisition
transaction, the Offeror intends to de-list the Engenuity Common Shares from
the Toronto Stock Exchange and to cause Engenuity to apply to securities
regulatory authorities to cease to be a reporting issuer.
The Offer was first announced on February 12, 2007 and the take-over bid
circular in respect of the Offer was mailed to the shareholders of Engenuity
on February 22, 2007.
Additional information about the Offer and copies of the take-over bid
circular may be obtained from information agent Georgeson Shareholder
Communications Canada Inc. or on www.sedar.com.
CAE is a world leader in providing simulation and modelling technologies,
and integrated training services to the civil aviation industry and defence
forces around the globe. We design, manufacture and supply simulation
equipment and offer training and services. This includes integrated modelling,
simulation and training solutions for commercial airlines, business aircraft
operators, aircraft manufacturers and military organizations and a global
network of training centres for pilots, and in some instances, cabin crew and
With annual revenues of over C$1 billion, CAE operates in 19 countries
around the world. CAE has sold nearly 700 simulators and training devices to
airlines, aircraft manufacturers, training centres and defence forces for air
and ground purposes in more than 40 countries. We have over 110 full-flight
simulators in more than 20 aviation training centres, serving approximately
3,500 airlines, aircraft operators and manufacturers across the globe. CAE
licenses its simulation software to various market segments and has a
professional services division assisting customers with a wide range of
For further information:
For further information: CAE contacts: Nathalie Bourque, Vice President,
Global Communications, (514) 734-5788, firstname.lastname@example.org; Investor
relations: Andrew Arnovitz, Director, Investor Relations, (514) 734-5760,