MONTREAL, Jan. 10 /CNW Telbec/ - ACE Aviation Holdings Inc. (ACE)
(TSX: ACE.A, ACE.B) today announced the final results of its offer to purchase
Cdn$1.5 billion of its Class A Variable Voting Shares and Class B Voting
Shares, which expired at 5:00 p.m. (Montreal time) on January 10, 2008. Based
on final reports from CIBC Mellon Trust Company, the depositary under the
offer, ACE confirmed that it has taken up and accepted for purchase and
cancellation a total of 40,023,427 Class A Variable Voting Shares and
9,894,166 Class B Voting Shares at Cdn$30.00 per share for an aggregate
purchase price of approximately Cdn$1.498 billion in accordance with the terms
of the offer. No Convertible Preferred Shares of ACE were deposited on an as
converted basis under the offer.
Payment to the depositary for the Class A Variable Voting Shares and
Class B Voting Shares taken up and purchased by ACE under the offer will be
made on January 11, 2008. Class A Variable Voting Shares and Class B Voting
Shares not validly deposited under the offer will be returned to shareholders
as promptly as possible.
For the purposes of subsection 191(4) of the Income Tax Act (Canada), the
"specified amount" in respect of each Class A Variable Voting Share purchased
under the offer is Cdn$28.00 and the "specified amount" in respect of each
Class B Voting Share purchased under the offer is Cdn$28.36.
ABOUT ACE AVIATION HOLDINGS INC.
ACE is a holding company of various aviation interests including Air
Canada, Aeroplan Income Fund, Jazz Air Income Fund and ACTS.
For further information:
For further information: Montréal: Isabelle Arthur, (514) 422-5788;
Vancouver: Angela Mah, (604) 270-5741; Toronto: Peter Fitzpatrick, (416)