MONTREAL, Nov. 5 /CNW Telbec/ - Promatek Industries Ltd. ("Promatek")
(TSX symbol PMK) is pleased to announce that at its annual and special meeting
of shareholders held on November 5, 2007, its shareholders approved the
previously announced privatization of Promatek. In order to carry out such
privatization, Promatek will amalgamate (the "Amalgamation") with
6809618 Canada Inc. ("680"), which will result in a newly amalgamated
corporation ("Amalco"). Under the terms of the Amalgamation, the public
shareholders of Promatek will receive one preferred share of Amalco for each
common share ("Common Share") they hold in the share capital of Promatek.
These preferred shares will in turn be redeemed automatically for a cash
consideration per share of $2.00. The formal closing of this transaction is
expected to occur within the upcoming days. Shareholders are reminded that in
order to receive the cash consideration to which they are entitled pursuant to
the Amalgamation, they must deposit with Computershare Investor Services Inc.
the certificates representing the Common Shares held by them, together with a
duly completed and executed Letter of Transmittal. Further information
concerning this deposit procedure may be found in Promatek's Management
Information Circular dated October 3, 2007, available at www.sedar.com.
Promatek is a design and manufacturing company whose products serve the
professional charge-back market. Promatek's clients include legal, accounting
and engineering firms that require systems that will automatically capture
expenses related to a client (such as photocopies, faxes, phone calls,
couriers, etc.) and integrate them into the firm's billing system. Promatek's
products are sold under the Copitrak name through selected exclusive dealers
located in the USA, Canada, Europe and Asia. Copitrak is a registered
trademark of Promatek.
For further information:
For further information: Mr. Arthur Levine, email@example.com,