ENGLOBE CORP. ANNOUNCES INTERIM ORDER IN CONNECTION WITH GOING PRIVATE
TRANSACTION
QUEBEC CITY, Nov. 29 /CNW Telbec/ - EnGlobe Corp. ("EnGlobe" or the "Corporation") (TSX: EG), announced today that it has obtained an interim order from the Quebec Superior Court on November 26, 2010, in connection with the proposed statutory plan of arrangement which, if completed, will result in a "going private transaction" (the "Transaction") with respect to the Corporation, pursuant to which holders of common shares of the Corporation, other than ONCAP II L.P., ONCAP (US) II L.P., ONCAP (US) II-A L.P., and Onex Parallel Investment (ONCAP) L.P. and certain management shareholders, will receive $0.265 in cash per common share. The Transaction was previously announced in the Corporation's press release dated November 12, 2010. The Transaction will be considered by shareholders of the Corporation at the special meeting of the Corporation scheduled for December 23, 2010. The Corporation expects to mail an Information Circular relating to the special meeting this week, a copy of which will be made available on the SEDAR website at www.sedar.com.
About EnGlobe Corp.
EnGlobe Corp. is a leading international integrated environmental services company specializing in the management of contaminated soils and organic based waste streams, with an emphasis on beneficial reuse. EnGlobe offers cost-effective solutions to municipal, commercial and industrial clients in Canada, the north-eastern United States, the United Kingdom and France through its divisions and subsidiaries: Biogénie, Biogénie Europe SAS, Biogénie Site Remediation Limited and Celtic Technologies Limited for site assessment and remediation, GSI Environment Inc. for organic waste management, and Tanknology Canada Inc. for tank testing and calibration. Shares of EnGlobe trade on the Toronto Stock Exchange under the ticker symbol EG. Additional information is available at www.englobecorp.com.
Forward-Looking Statements
This press release contains certain forward-looking statements. Such statements relate to, among other things, sales growth, expansion and growth of the Corporation's business, future capital expenditures and the Corporation's business strategy. Forward-looking statements are subject to inherent uncertainties and risks including, but not limited to: general industry and economic conditions, changes in the Corporation's relationships with its suppliers, pricing pressures and other competitive factors, the availability and costs of fuels and utilities, the results of the Corporation's ongoing efforts to improve cost effectiveness, changes in regulatory requirements affecting the Corporation's business and the availability and terms of financing. Other Risk Factors are set out and described in the Corporation's Annual Information Form which is available at www.sedar.com. Consequently, actual results and events may vary significantly from those included in, contemplated by or implied by such forward-looking statements. In evaluating forward-looking statements, readers should specifically consider the various factors that could cause actual events or results to differ materially from such forward-looking statements.
For further information:
Mario Saucier Investor Relations T: +1-450-929-4949, ext. 222 [email protected] |
Marie-Chantal Turcotte Corporate Communications T: +1-418-781-0191, ext. 5235 mcturcotte@englobecorp.com |
Share this article