VANCOUVER, April 19, 2013 /CNW/ - 0915988 B.C. Ltd. (the "Company") and MFC Industrial Ltd. announced today that the previously announced arrangement (the "Arrangement") under the Business Corporations Act (British Columbia) has been completed. The Arrangement received requisite shareholder approval on April 16, 2013 and was approved by the Supreme Court of British Columbia on April 18, 2013.
Pursuant to the Arrangement, MFCI acquired all of the common shares of the Company (the "Voting Shares") not already owned by it in exchange for cash consideration of $0.02 per share (the "Per Share Consideration") and now holds 100% of the outstanding shares of the Company.
Upon surrender to Computershare Investor Services Inc. (the "Depositary") of certificates representing Voting Shares that were outstanding immediately prior to the effective time of the Arrangement together with a duly completed and executed Letter of Transmittal, registered holders of such Voting Shares are entitled to receive the Per Share Consideration, pursuant to, and subject to the terms and conditions of, the plan of arrangement, less any applicable withholdings. Any questions regarding payment of the Per Share Consideration, including any requests for an additional copy of the requisite Letter of Transmittal, should be directed to the Depositary via telephone at 1-800-564-6253 (toll free in North America) or via email at [email protected].
Non-registered holders of Voting Shares that were outstanding immediately prior to the effective time of the Arrangement should contact their nominee (i.e., broker, trust company, bank or other registered holder) which holds the certificates representing such securities on their behalf to arrange for surrender and payment pursuant to the Arrangement.
The parties will cause the dissolution of the Company and the Company intends to apply to the relevant securities regulatory authorities to cease to be a reporting issuer in each of the jurisdictions in Canada in which it is currently reporting.
SOURCE: 0915988 B.C. Ltd.
Rene Randall
MFC Industrial Ltd.
(604) 683-8286 ex 224
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