KITCHENER, ON, Sept. 23 /CNW/ - Electrohome Limited announced today that
it has completed the sale of its interests in Mechdyne Corporation in
accordance with the Company's Plan of Arrangement approved by the Company's
shareholders on September 11, 2008 and by the Ontario Superior Court of
Justice on September 16, 2008.
In accordance with the approved Plan of Arrangement, proceeds from the
sale of approximately $3.2 million will be used to satisfy the Company's
outstanding obligations in an orderly manner with a view to maximizing the
amount of residual proceeds that can be distributed to its shareholders prior
to the dissolution of the Company.
Additional information pertaining to the Company's regulatory filings
including annual reports, annual information forms, management information
circulars, etc. can be found on the SEDAR website at www.sedar.com.
TSX Venture Exchange has not reviewed and does not take responsibility
for the adequacy or accuracy of this release.
For further information:
For further information: John A. Pollock, Chairman and Chief Executive
Officer at (519) 749-3182 or Gary Dumoulin, Vice-President and Secretary at