Business
Kelso & Company Announces Expiry of Offer and Takes-Up Deposited Common Shares
/NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR DESTINATION IN THE UNITED STATES / ...
About this update from Etruscus Resources Corp.
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR DESTINATION IN THE\n UNITED STATES/\n\n\nMONTREAL and VANCOUVER, June 14, 2013 /CNW Telbec/ - Reference is made\n to the offer dated April 5, 2013 (the \"Offer\") by ET Acquisition\n Corporation (the \"Offeror\"), a new corporation indirectly owned or\n controlled by funds managed by Kelso & Company (\"Kelso\"), as amended\n and supplemented by the notice of extension dated May 10, 2013, to\n purchase all of the issued and outstanding common shares (\"Common\n Shares\") in the capital of EACOM Timber Corporation (\"EACOM\") at a\n price of $0.38 per Common Share.  As previously announced, the expiry\n time for the Offer was 5:00 p.m. (Toronto time) on June 14, 2013.\n\n\nKelso and EACOM are pleased to jointly announce that all terms and\n conditions of the Offer have been satisfied or waived, and that the\n Offeror will take up and accept for payment 643,482,709 Common Shares\n validly deposited under the Offer, representing approximately 95% of\n the issued and outstanding Common Shares.  EACOM shareholders who\n deposited their Common Shares to the Offer will receive payment for\n such Common Shares no later than three business days following the date\n hereof.\n\n\nFollowing the take-up and acceptance for payment of 643,482,709 Common\n Shares validly deposited under the Offer by the Offeror, Kelso and its\n affiliates will now own and control 643,482,709 Common Shares or\n approximately 95% of the issued and outstanding Common Shares in the\n capital of EACOM.\n\n\nThe Offeror is entitled to nominate up to 9 directors to the board of\n directors of EACOM (the \"Board\").  EACOM has received resignations from\n each of Rick Collins, Jeremy Curnock Cook, Frank Giustra, Paul\n Reynolds, the Honorable John D. Reynolds P.C. and Gilles Masson, which\n the Board has accepted. Philip E. Berney, James J. Connors, George E.\n Matelich, Matthew S. Edgerton and William C. Frayer have been appointed\n by the Board to fill the vacancies created.\n\n\nKelso and EACOM also jointly announced that the Offeror has extended the\n expiry date of the Offer to 12:01 a.m. (Toronto time) on June 25, 2013,\n pursuant to a Notice of Extension dated June 14, 2013 (the \"Notice of\n Extension\"), to allow shareholders of EACOM a further opportunity to\n deposit their Com...