Business
EMPIRE COMPANY LIMITED COMPLETES SECONDARY OFFERING OF WAJAX INCOME FUND UNITS
EMPIRE COMPANY LIMITED COMPLETES SECONDARY OFFERING OF WAJAX INCOME FUND UNITS
About this update from Wajax Corporation
[{"type":"text","content":"\n\n\n\n Oct. 5, 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\n /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n \n\n STELLARTON, NS, Oct 5 /CNW/ - Empire Company Limited ("Empire") and\n Wajax Income Fund (the "Fund") announce that Empire and The Sobey\n Foundation (the "Foundation") have completed a secondary offering of\n 4,577,994 units of the Fund ("Units") at a purchase price of $27.75 per\n Unit for gross proceeds of approximately $127 million through a\n syndicate of investment dealers led by Scotia Capital and BMO Capital\n Markets. The Units sold to the syndicate, 4,368,194 by Empire through\n its wholly owned subsidiary ECL Western Holdings Limited and 209,800 by\n the Foundation, represent a 27.5% interest in the Fund and were all of\n the Units held by Empire and the Foundation. Net proceeds to Empire\n after commissions and expenses are approximately C$115 million.\n \n\n The Fund did not receive any proceeds from the offering.\n \n\n Empire Company Limited (TSX: EMP.A) is a Canadian company headquartered\n at 115 King Street, Stellarton, Nova Scotia. Empire's core businesses\n include food retailing and related real estate. With over $15 billion in\n annual revenue and approximately $6.3 billion in assets, Empire and its\n related companies, including its franchisees and affiliates, employ over\n 90,000 people.The Fund (TSX: WJX.UN) is a diversified income\n fund that...