CALGARY, Feb. 1, 2018 /CNW/ - Pure Technologies Ltd. ("Pure" or the "Company") (TSX: PUR) is pleased to announce the closing of the plan of arrangement involving Pure, Xylem Inc. (the "Purchaser"), and the holders of common shares and options of Pure, as previously announced by Pure on December 11, 2017 (the "Arrangement").
Pursuant to the Arrangement, the Purchaser has indirectly acquired, through its wholly-owned subsidiary, all of the outstanding Pure common shares in exchange for the cash consideration of $9.00 per share (the "Cash Consideration"). All outstanding options of Pure were exercised or surrendered prior to the closing of the Arrangement for a payment, in the case of surrendered options, equal to the positive difference, if any, obtained by subtracting the exercise price of the surrendered option from the Cash Consideration per Share, less applicable tax withholdings.
Registered Pure shareholders, who have not already done so, should submit their certificate(s) or DRS Advice representing their Pure shares along with a completed letter of transmittal to the depositary, Computershare Investor Services Inc., in order to receive the Cash Consideration. Holders of Pure common shares who hold their shares through a broker, investment dealer or other intermediary should follow the instructions by such broker, investment dealer or other intermediary.
In connection with the completion of the Arrangement, the common shares of Pure were de-listed from the Toronto Stock Exchange ("TSX") at the close of trading on January 31, 2018.
Further details regarding the Arrangement can be found in the Company's information circular and proxy statement dated December 19, 2017, filed on Pure's SEDAR profile at www.sedar.com.
"The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release."
SOURCE Pure Technologies Ltd.
For further information: Pure Technologies Ltd. (TSX: PUR) contact Paul Moon, Director of Investor Relations; (403) 537-3244 or firstname.lastname@example.org; or Matt Latino; +1 (914) 323-5821 or Matthew.Latino@xyleminc.com