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Luxell and Lux Acquisition Corporation Announce Results of Special Meeting of Luxell Shareholders Approving the Going-Private Transaction
TORONTO, April 20 /CNW/ - Luxell Technologies Inc. ("Luxell") (TSX:LUX) and Lux Acquisition Corpo...
About this update from Newlox Gold Ventures Corp.
[{"type":"text","content":"\n\n\n\nTORONTO, April 20 /CNW/ - Luxell Technologies Inc. ("Luxell") (TSX:LUX)\nand Lux Acquisition Corporation ("LAC") announced today that Luxell's\nshareholders have approved by way of special resolution, the continuance of\nLuxell under the federal jurisdiction of Canada (the "Continuance") and the\namalgamation of Luxell with LAC (the "Amalgamation").\n\n\nThe Continuance was approved by 99.78% of the votes cast by shareholders\nat the meeting. The Amalgamation was approved by 99.65% of the votes cast by\nshareholders at the meeting, including 99.16% of the votes cast for purposes\nof the majority of the minority approval requirements of applicable securities\nlaws. The Continuance and Amalgamation will be effective on or about April 28,\n2009 and will be followed by the redemption of the redeemable preferred shares\nprovided for under the Amalgamation, thereby completing the previously\nannounced going-private transaction with LAC.\n\n\nPursuant to the Amalgamation, all holders of Luxell common shares, other\nthan LAC and its affiliates, will be entitled to receive $0.10 per share, in\nthe form of a promissory note, by way of the redemption of redeemable\npreferred shares of the amalgamated corporation, all as more fully described\nin the meeting materials mailed to shareholders of Luxell and filed on SEDAR\n(www.sedar.com) in connection with the special shareholders meeting to approve\nthe Continuance and Amalgamation.\n\n\nAs soon as practicable following completion of the Continuance and\nAmalgamation, it is expected that the common shares of Luxell will no longer\nbe traded on the Toronto Stock Exchange. Additionally, Luxell will make an\napplication to the Canadian securities regulatory authorities for an order\nthat Luxell will no longer be a reporting issuer (or equivalent) under\napplicable Canadian securities laws and no longer be listed for trading on the\nTSX.\n\n\nAbout Luxell\n\n\nLuxell designs, manufactures and licenses flat panel display technologies\nand solutions for the defense and aerospace industries. More information can\nbe found at www.luxell.com. Luxell Technologies Inc., Luxell and Black Layer\nare trademarks of Luxell Technologies Inc. All other company and/or product\nnames are trademarks and/or registered trademarks of their respective\nmanufacturers.\n\...