WINNIPEG, June 9, 2014 /CNW/ - Canadian Wheat Board ("CWB") announces that it acquired, through its wholly-owned subsidiary, 101244352 Saskatchewan Ltd. ("CWB Subco"), ownership and control and direction over an additional 20,498 Class C shares ("PWT Shares") of Prairie West Terminal Ltd. ("PWT"), representing approximately 85.8% of the issued and outstanding PWT Shares as at the date hereof.
As a result of the purchase
|(i)||CWB, through CWB Subco, legally and beneficially owns and exercises control or direction over an aggregate of 23,397 PWT Shares, or approximately 97.9% of the issued and outstanding PWT Shares; and|
|(ii)||CWB, together with Mission Terminal Inc. (a wholly-owned subsidiary of CWB which directly owns 500 PWT Shares, representing approximately 2.1% of the issued and outstanding PWT Share and which is deemed to be a joint actor of CWB), beneficially owns and exercises control and direction over, an aggregate of 23,897 PWT Shares, representing 100% of the issued and outstanding PWT Shares.|
The PWT Shares were acquired by CWB pursuant to a statutory arrangement of PWT under the Business Corporations Act (Saskatchewan) and the arrangement agreement dated April 17, 2014 between CWB Subco and PWT. CWB intends to own and operate PWT as a wholly-owned subsidiary.
A report respecting the acquisition of PWT Shares by CWB will be electronically filed with applicable Canadian securities regulatory authorities and will be available for viewing at www.sedar.com. A copy of the report (once filed) may be obtained by contacting Ms. Dayna Spiring, Chief Strategy Officer of CWB at (204) 984-2937.
For further information:
Ms. Dayna Spiring, Chief Strategy Officer of CWB at (204) 984-2937