Amisk announces that it will recommend that its shareholders vote in favour of the Pan-O-Lac bid to acquire all the assets of Amisk



    Ticker symbol
    AS.A

    SAGUENAY, QC, Aug. 9 /CNW Telbec/ - Amisk Inc. ("Amisk") announces that
Pan-O-Lac ltée ("POL"), the majority shareholder of Amisk who owns 72.9 % of
the shares, formally filed a bid to acquire all the assets of Amisk. The bid
includes a series of transactions whose objective is to cancel all the
outstanding Amisk share capital and consequently will involve the dissolution
of Amisk.
    The transaction is structured to proceed to declare and pay a liquidating
dividend of $0.84 per share, cash payment, to all the holders of the Class A
shares and of the Class B shares of the share capital of Amisk. The cashing in
of the liquidating dividend by the holders of the Class A shares and of the
Class B shares will cancel all the outstanding share capital of Amisk. They
are no intermediary fees for this transaction.
    The Board of Directors of Amisk determined unanimously that this
transaction is desirable, fair and in the interest of all its shareholders.
The POL bid is within the range of values in the evaluation report for the
fair market value of the Amisk shares, prepared by the Ernst & Young firm
(Evaluation in accordance with Regulation Q-27).
    The closing of the operation, foreseen for November 30, 2007, is subject
to certain conditions and approvals, including the approval of the
shareholders and of the qualified regulatory authorities. Regulation Q-27, on
the measures to protect minority shareholders, applies for this transaction
and it requires approval by getting a majority vote from the minority
shareholders of each type of security affected, at a meeting of the security
holders that must be convened to approve the transaction.
    Amisk intends to make known the terms of its recommendation regarding the
bid, within the legal deadline, around September 21, 2007, by means of a
circular that will be sent to all the shareholders. This recommendation will
allow the shareholders to make an informed decision at the annual and special
general meeting scheduled for October 23, 2007 at which the question will be
discussed.

    The TSX Venture Exchange is not liable for the pertinence or the
    exactness of the contents of this press release.




For further information:

For further information: Colette Gauthier, Director and President of the
Auditing Committee, (418) 546-1156 Extension 222

Organization Profile

AMISK INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890