Sasamat Capital Corporation Announces Court Approval of Arrangement
30 Maggio 2007 - 5:24PM
PR Newswire (US)
VANCOUVER, Canada, May 30 /PRNewswire-FirstCall/ -- Sasamat Capital
Corporation ("Sasamat") (PinkSheets: SSALF) is pleased to announce
that the British Columbia Supreme Court has granted a final order
approving the proposed plan of arrangement (the "Arrangement") with
KHD Humboldt Wedag International Ltd. ("KHD") (NASDAQ:KHDH), as
amended to reflect an adjusted share exchange ratio of 0.1. The
Arrangement provides for the acquisition by KHD of all of the
outstanding common shares of Sasamat, not already owned by KHD.
Upon consummation of the Arrangement, Sasamat will become a
wholly-owned subsidiary of KHD. Further to the final order, Sasamat
and KHD have entered into an amendment agreement to the arrangement
agreement (pursuant to which the Arrangement is contemplated),
which amendment agreement alters the multiplier of the share
exchange ratio set out in the arrangement agreement from 0.111 to
0.1. Sasamat will now file articles of arrangement with the
Director under the Canada Business Corporations Act, and provided
that these are in order, the Director will issue a Certificate of
Arrangement. At which time: (a) the Arrangement will be effective;
(b) the common shares of Sasamat held by Sasamat shareholders will
be exchanged for common shares of KHD; and (c) Sasamat will become
a wholly-owned subsidiary of KHD. For further information please
contact: R. Randall (604) 408-8538 DATASOURCE: Sasamat Capital
Corporation CONTACT: R. Randall of Sasamat Capital Corporation,
+1-604-408-8538
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