Allen-Vanguard updates expected closing date of $250 million debt financing and plans for general progress report to shareholders with Q2 results

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[{"type":"text","content":"\n\n\n\nOTTAWA, April 24 /CNW Telbec/ - Allen-Vanguard Corporation (the "Company"\nor "Allen-Vanguard") (TSX: VRS) of Ottawa, Canada today announced that it\nexpects the closing date of its $200 million long-term debt financing and\n$50 million revolving credit facility underwritten by RBC Capital Markets to\nbe on or around May 2, 2008. As announced on March 27, 2008, these two\nfacilities will be used to repay the outstanding balance on Allen Vanguard's\nexisting senior debt facilities. "The re-financing has progressed very well,"\nsaid David E. Luxton, President and CEO. "At this juncture it simply requires\na few extra days to complete final documentation."\n\n\nThe Company also reported that it intends to provide a progress report to\nall stakeholders in conjunction with the release of its second quarter (Q2)\nfinancial results on or around May 15th. "We know that investors are looking\nforward to a general update on our major defense programs in particular," said\nMr. Luxton. "We expect to be in a position to provide a full update at that\ntime and we look forward to reporting on progress across all our business\nlines." The Company will be hosting an investor and analyst conference call\nand webcast at that time as follows:\n\n\n Date: Thursday, May 15, 2008\n Time: 9:00 a.m. ET\n Dial-in numbers: 1-800-731-6941\n 1-416-644-3415\n Web access:\n http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID(equal sign)2243780\n\n\nFor those unable to listen to the call live, a replay will be available\nfor a two week period beginning at 11:00 a.m. on February 15, 2008. The replay\nphone number is 877-289-8525 and the access code is 21269297 (pound key).\n\n\nThe Company also took this opportunity to remind all shareholders of its\nAnnual General Meeting of Shareholders which will take place on April 28th at\n2 p.m. at the Marriott Hotel, 100 Kent St., Ottawa. The Company noted that\nwith the pending release of Q2 results it is not anticipated that there will\nbe any new announcements made at the AGM. A presentation focused on the\npreviously announced structure and re-branding of the Company, as well as the\ncombined capabilities of the Company further to the acquisition of Med-Eng\nSystems Inc. and Hazard Management Solutions Ltd. will be presented at the AGM\nand poste...

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