QUÉBEC CITY and MYRTLE BEACH, SC, Sept. 19, 2019 /CNW/ - TSO3 Inc. ("TSO3" or the "Company") (TSX: TOS) confirms that the consideration payable to the shareholders of the Company (the "Shareholders") pursuant to the plan of arrangement (the "Arrangement") involving the Company, Stryker Corporation ("Stryker") and 9402-4874 Québec Inc. (the "Purchaser"), a subsidiary of Stryker, continues to be CAD $0.43 per share.
The arrangement agreement (the "Arrangement Agreement") between the Company, Stryker and the Purchaser entered into in connection with the Arrangement provides for an adjustment to the consideration payable to Shareholders based on the amount of transaction costs incurred by the Company in connection with the Arrangement. As the amount of transaction costs does not exceed the threshold previously agreed upon by the parties, no adjustment is made to the consideration and each Shareholder will receive CAD $0.43 in cash for each share held upon closing of the Arrangement.
The completion of the Arrangement remains subject to the approval of Shareholders at the special meeting of Shareholders to be held on September 23, 2019, the final approval of the Superior Court of Québec and the satisfaction or waiver of other customary closing conditions.
Shareholder Questions and Assistance
The Company has retained Shorecrest Group Inc. to act as its proxy solicitation agent and to answer information requests from shareholders. Communications with Shorecrest Group Inc. may be made (i) by e-mail at [email protected] or (ii) by phone at toll free in North America at 1-888-637-5789 or at 647-931-7454.
Founded in 1998, TSO3's activities encompass the sale, production, maintenance, research, development and licensing of sterilization processes, related consumable supplies and accessories for heat-sensitive medical devices. The Company designs products for sterile processing areas in the hospital environment that offer an advantageous replacement solution to other low temperature sterilization processes currently used in hospitals. TSO3 also offers services related to the maintenance of sterilization equipment and compatibility testing of medical devices with such processes.
For more information about TSO3, visit the Company's website at www.tso3.com.
SOURCE TSO3 Inc.
For further information: R.M. (Ric) Rumble, President and Chief Executive Officer, Telephone: 418 651-0003, Email: [email protected]; Glen Kayll, Chief Financial Officer, Telephone: 418 651-0003, Email: [email protected]; Shorecrest Group Inc., Telephone: 1-888-637-5789 (toll free in North America) or 647-931-7454, Email: [email protected]