NEW YORK, June 27, 2012 /CNW/ - Sandell Asset Management Corp. ("Sandell"), on behalf of funds and accounts managed and/or affiliated with it, acquired on June 27, 2012 control or direction over 170,000 common shares of Miranda Technologies Inc. (the "Issuer"), representing approximately 0.78% of the Issuer's issued and outstanding common shares. Sandell acts as the investment manager to funds and accounts under its management, which are the beneficial owners of the common shares. In its capacity as investment manager, Sandell exercises control or direction and has investment discretion over the common shares, but specifically disclaims beneficial ownership of the common shares.
Following this acquisition, Sandell exercises control or direction over 1,346,700 common shares of the Issuer, or approximately 6.16% of the outstanding common shares of the Issuer.
Sandell has acquired control or direction over 170,000 common shares of the Issuer since Belden CDT (Canada) Inc., a wholly-owned subsidiary of Belden Inc., formally launched its offer to purchase all of the outstanding common shares of the Issuer on June 18, 2012.
Sandell acquired the common shares through the Toronto Stock Exchange for investment purposes only and not with the purpose of influencing the control or direction of the Issuer. Sandell may, subject to market conditions, increase or decrease its control or direction over the Issuer's common shares.
This press release is issued by Sandell pursuant to Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids. Sandell will file a press release in respect of this acquisition with the applicable Securities Commission or Securities Regulator in each jurisdiction in which the Issuer is a reporting issuer.
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Sandell Asset Management Corp.
Castlerigg Master Investments
40 West 57th Street, 26th Floor
New York, NY 10019