GODERICH, ON, Sept. 4, 2012 /CNW/ - Parrish & Heimbecker, Limited ("P&H") and Thirdcoast Limited ("Thirdcoast") announced today that P&H has acquired the remaining 11,159 common shares (the "Shares") of Thirdcoast not already owned by P&H, representing approximately 3.6% of the outstanding Shares, pursuant to a previously announced compulsory acquisition carried out under the provisions of the Business Corporations Act (Ontario) (the "Compulsory Acquisition"). P&H now owns 309,414 Shares, representing 100% of the outstanding Shares.
P&H acquired the Shares for the same consideration as set forth in its offer and circular dated May 31, 2012 as extended by a notice of extension dated July 5, 2012, being consideration of Cdn. $155.00 per Share.
In addition, P&H announces that it will cause Thirdcoast to apply to the relevant securities regulatory authorities for Thirdcoast to cease to be a reporting issuer.
Winnipeg, Manitoba-based Parrish & Heimbecker, Limited is a 103 year old privately held Canadian company with grain elevators, terminals and flour mills across Canada. P&H has grown into a diversified, vertically integrated company that is committed to agribusiness and the entire agri-food industry. The P&H group of companies covers a wide spectrum of the agribusiness sector, mirroring very closely the diverse face of Canadian agriculture. P&H is actively growing and adapting to meet changing demands of the consumer.
This release includes forward-looking statements regarding P&H, Thirdcoast and their respective businesses. The forward looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting P&H, Thirdcoast and their respective businesses. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and P&H does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE: Parrish & Heimbecker, Limited
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For more information, visit http://www.parrishandheimbecker.com.