Business
DATEX TECHNOLOGIES CORPORATION ANNOUNCES ITS INTENTION TO COMPLETE A GOING PRIVATE TRANSACTION
DATEX TECHNOLOGIES CORPORATION ANNOUNCES ITS INTENTION TO COMPLETE A GOING PRIVATE TRANSACTION
About this update from Defence Therapeutics Inc Class A
[{"type":"text","content":"\n\n\n\n Dec. 2, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nMISSISSAUGA, ON, Dec. 2 /CNW Telbec/ - Datex Technologies Corporation (“Datex” or the “Company”) (TSX-V:DTC) today announced that its Board of Directors (the “Board”)\n has conditionally approved a going private transaction.  In connection\n with the proposed going private transaction, the Board has established\n an independent committee (“Independent Committee”) consisting of David\n Parkes and David Williams.  The Independent Committee has further\n retained a valuator to prepare a valuation (“Valuation”) of the Company\n as required under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.\n\n\nIn support of the proposed transaction, the Company has entered into a\n lock-up agreement (“Lock-Up Agreement”) with a major shareholder (and\n his spouse) (herein the “Seller”) who holds in excess of 12,600,000\n shares of Datex, representing approximately 22.1% of the issued and\n outstanding shares.\n\n\nUnder the terms of the Lock-Up Agreement, the Seller has agreed, subject\n to certain conditions, to support the going private transaction and\n vote in favour of such transaction.  The Lock-Up Agreement may be\n terminated: (i) at any time by mutual consent of the Company and the\n Seller; (ii) by the Company if the Valuation being obtained for the\n pr...