Clemex signs a Merger Agreement with Principal Shareholders to privatize the company
LONGUEUIL, QC, Nov. 28, 2016 - Following the receipt of the letter of intent on August 2, 2016 and the review of the Special Committee mandated on the same date by its Board of Directors, Clemex Technologies Inc. ("Clemex") (TSXV:CXG-A.V - News) is pleased to announce that it has entered into a Merger Agreement (the "Merger Agreement") and related agreements with 9804064 Canada Inc. (the "Purchaser") and a group of shareholders. The Purchaser is a newly-incorporated corporation owned by a group of shareholders, including RAL Diagnostics SAS, Zwick Roell AG and Mr. Yves Bassat, the President, Chief Executive Officer and Chairman of the Board of Directors (collectively, the "Principal Shareholders"). Pursuant to the Merger Agreement, the Purchaser will purchase, in effect, all of the issued and outstanding Class A common shares of Clemex, other than shares held directly or indirectly by the Principal Shareholders, at a price of $0.20 in cash per share, representing total consideration of approximately $3.8 million.
- Published: 28 November 2016
- Written by Editor