TORONTO, May 29, 2014 /CNW/ - MFL Management Limited (the "Corporation") hereby announces that it has today completed its previously announced purchase of an aggregate of 115,291 equity shares ("Equity Shares") of MBN Corporation ("MBN"), at a purchase price of $5.80 per share, from four sellers (the "Transaction"). The purchase of the Equity Shares was made pursuant to the private agreement exemption from the formal take-over bid requirements set forth in Section 100.1(1) of the Securities Act (Ontario). Prior to the completion of the Transaction, the Corporation owned 652,800 Equity Shares representing approximately 14.70% of the outstanding Equity Shares of MBN (which, together with Equity Shares owned by joint actors as set out in filed early warning reports, represented approximately 19.87% of the outstanding Equity Shares). Following completion of the Transaction on May 29, 2014, the Corporation owns 768,091 Equity Shares, representing approximately 17.28% of the outstanding Equity Shares of MBN (which, together with Equity Shares owned by joint actors as set out in filed early warning reports, represents approximately 22.47% of the outstanding Equity Shares). The Corporation may from time to time purchase additional Equity Shares for investment purposes.
A copy of the early warning report regarding the impact of the Transaction on the Corporation's holdings of Equity Shares will be available at www.sedar.com or can be obtained by contacting the Corporation at the address specified below:
This press release may contain forward-looking information, including with respect to future acquisitions of Equity Shares of MBN. The forward-looking information contained in this press release constitutes current expectations, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents an estimate as of any date other than the date of this press release.
SOURCE: MFL Management Limited
For further information:
MFL Management Limited
Attention: Dean Orrico
First Canadian Place
58th Floor, P.O. Box 192