Loring Ward sets special shareholder meeting date for acquisition by FFL; Grants due diligence access to Werba Reinhard

    NEW YORK, June 24 /CNW/ -  Loring Ward International Ltd. ("Loring Ward"
or the "Company") (TSX: LW) today announced that the special meeting of
shareholders to consider and vote on the proposed acquisition of Loring Ward
by Friedman Fleischer & Lowe Capital Partners II, L.P. ("FFL") will be held on
August 6, 2008. The record date for shareholders entitled to receive notice of
and vote at the special meeting has been set as July 7, 2008. Further details
will be contained in an information circular that will be mailed to
shareholders in connection with the special meeting. In the meantime, Loring
Ward management encourages shareholders not to vote the green proxy.
    The Special Committee of the independent Loring Ward directors and the
board of directors as a whole confirm that they continue to support the
previously announced agreement (the "Agreement") with FFL and confirm their
unanimous conclusion and recommendation that shareholders should vote in
favour of the FFL transaction under which all of the shares of the Company
will be acquired by FFL at a price of US$16.50 per share, which transaction is
not subject to any financing or due diligence condition. The Agreement with
FFL remains in full force and effect.
    The Company also announced today that it has entered into a
confidentiality and non-disclosure agreement with Werba Reinhard, Inc. ("WRI")
in order to permit WRI to conduct due diligence in connection with their
expressed intention to make an offer to the shareholders of the Company at a
minimum price of US$16.75 per share, subject to customary conditions. No offer
has been made by WRI.
    There can be no assurance that WRI's conducting of due diligence will
result in it making a formal offer for the shares of the Company. In addition,
even if WRI does make an offer, there can be no assurance as to what the price
or other terms or conditions of any such offer would be, or as to whether any
such offer would constitute a Superior Proposal within the meaning of the

    About Loring Ward

    Loring Ward International Ltd. provides in its core business a turnkey
asset management program to some of America's most knowledgeable and
successful investment advisors and their clients. These services include
investment strategies and products, back office operational processing,
education and training, and business development support. The Company's U.S.
corporate offices are headquartered in New York. For more information, please
visit www.loringward.com.

    The Company, in the ordinary course of its business, may explore
potential proposals or be the recipient of proposals with respect to strategic
opportunities and transactions, which may include strategic joint venture
relationships, significant debt or equity investments in or by the Company,
the acquisition or disposition of material assets or business lines, mergers,
new products or services, new distribution methods and other similar strategic
opportunities or transactions. The Company's policy is generally not to
publicly disclose the pursuit of a potential strategic opportunity or
transaction unless and until a definitive binding agreement is reached. The
public announcement of such matters could potentially materially affect the
price or value of the Company's securities. As a result, there can be no
assurance that investors who buy or sell the Company's securities are doing so
at a time when the Company is not pursuing a particular strategic opportunity
or transaction that, if publicly disclosed, could materially affect the price
or value of the Company's securities.
    Information in this news release that is not current or historical
factual information may constitute forward-looking information within the
meaning of securities laws. Forward-looking statements may include those
relating to the Company's objectives and strategies, as well as statements of
our beliefs, plans, dividend policy, plans to repurchase shares, expectations
and intentions. Implicit in this information are assumptions regarding future
revenue and expenses, economic conditions, and the results of pending
litigation involving the Company, as well as our business strategy,
expectations, intentions, and other matters. These assumptions may prove to be
incorrect, and actual outcomes and results, including the future operating
results and economic performance of the Company, may differ materially because
of many factors, including those discussed in this press release and in our
other public filings. For more information on these risks and uncertainties
you should refer to our detailed Financial Statements and Management's
Discussion and Analysis, as well as a broader description of certain
challenges and risks facing the Company, all of which is available at
www.sedar.com. Forward-looking information contained in this news release is
based on our current estimates, expectations and projections, which we believe
are reasonable as of the current date. You should not place undue importance
on forward-looking information and should not rely upon this information as of
any other date. The Company disclaims any intention or obligation to update
the information in this press release or revise any other forward-looking
statements, whether as a result of new information, future events or
otherwise, except as expressly required by law.

For further information:

For further information: Robert Herrmann at (212) 907-8080 or E-mail:
info@loringward.com; David Rattee at (416) 591-5105 or E-mail:

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