ST. JOHN'S, Jan. 26 /CNW/ - Today, Rutter Inc. (TSX: RUT) is issuing a
press release regarding recent market speculation in connection with
the unusual trading of its shares today. As disclosed in note 1 to
Rutter's financial statements for November 30, 2010, from time to time,
Rutter considers or receives inquiries with respect to possible
transactions, including the acquisition or disposition of assets, the
sale or issuance of shares, or other potential business combinations.
As noted in note 10 to Rutter's financial statements for November 30,
2010, the Company has entered into an agreement to sell its mechanical
and electrical business. Rutter does not consider this transaction to
be material, as the mechanical and electrical business accounts for
only a small portion of its revenues. Rutter has not at this time
reached any other binding agreement with respect to any other proposed
transaction. No assurance can be given that any such proposal will be
acted upon, or that it will result in a binding agreement, or even if
such agreement is reached, that such transaction will be completed.
Rutter's policy is to announce only material transactions when it
reaches a binding agreement on the same.
Rutter's policy is not to otherwise comment on rumors and accordingly
Rutter does not intend to comment further on this or other speculation.
About Rutter Inc. - Rutter is an enterprise focused on providing innovative technologies
and engineering solutions. Rutter's global network supplies
technologies to improve efficiency and safety in the marine, defense,
transportation, oil and gas sectors from its headquarters in the
Province of Newfoundland and Labrador. Multidisciplinary consulting
engineering services including civil, structural, mechanical and
electrical engineering as well as environmental and construction
management services are provided to a diverse client base which
includes all levels of government and the oil and gas and industrial
sectors. For more information see www.rutter.ca
This press release may contain forward-looking statements that involve
risks and uncertainties. These statements reflect current expectations
and are subject to a number of risks and uncertainties including but
not limited to, change in technology and general market conditions. Due
to the many risks and uncertainties, Rutter Inc. cannot assure that
forward-looking statements that may be contained in this press release
will be realized.
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
SOURCE RUTTER INC.
For further information:
Karen Snook, Chief Financial Officer, Rutter Inc. +1 709 368 3174