The Griffin Corporation announces going private transaction

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[{"type":"text","content":"\n\n\n\nKITCHENER, ON, Jan. 14 /CNW/ - The Griffin Corporation (TSX Venture\nExchange "GRN") ("Griffin" or the "Company") announces that it has received\ntoday the approval of the Superior Court of Justice of Ontario in connection\nwith its previously announced going private transaction to be completed by way\nof plan of arrangement (the "Arrangement") between Griffin and Zayma Realty\nHoldings Inc. ("Zayma"), a corporation controlled by Griffin's Chief Executive\nOfficer and his immediate family.\n\n\nAt a Special Meeting of Shareholders held on January 11, 2008 a special\nresolution approving the Arrangement pursuant to section 182 of the Business\nCorporations Act (Ontario) was respectively approved by 99.47% of the votes\ncast by holders of common shares of Griffin, present in person or represented\nby proxy and by 98.49% of the votes cast by holders of common shares of\nGriffin present in person or represented by proxy, excluding votes cast in\nrespect of common shares beneficially owned or over which control or direction\nis exercised by Griffin's Chief Executive Officer. Both votes exceeded the\napprovals required by the Superior Court of Justice of Ontario in its Interim\nOrder dated December 12, 2007.\n\n\nPursuant to the Arrangement, holders of common shares of Griffin (other\nthan Zayma and other shareholders over which Griffin's Chief Executive Officer\nexercises control or direction) will receive $0.08 for each common share of\nGriffin held. Griffin expect the completion of the Arrangement to occur on or\nabout January 18, 2008.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy or accuracy of this release.\n\n\n","length":1796,"tagName":"div"}]

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