WIT Shareholders approve sale to P&H

Weyburn This Week
March 7, 2014 01:00 AM

Weyburn Inland Terminal Ltd. shareholders approved the special resolution authorizing the plan of arrangement with Parrish & Heimbecker Limited.

The arrangement will see P&H acquire all of the outstanding common shares of WIT for cash consideration of $17.25 per share.

The Arrangement Resolution was approved by 79.79% of the shares voted in person or represented by proxy at the Meeting.

The application to the Court of Queen's Bench of Saskatchewan to obtain the final order approving the

Arrangement is scheduled for March 5.

If court approval is obtained and the other conditions to completion of the Arrangement are satisfied or waived, WIT expects that the Arrangement will be completed during the week of March 10.

In order to receive the cash consideration payable on the completion of the Arrangement, registered shareholders of WIT are required to complete, sign, date and return the letter of transmittal that was mailed to all registered shareholders in connection with the Meeting. The letter of transmittal is also available on SEDAR at www.sedar.com or upon request from WIT.

For beneficial shareholders whose shares are held through an intermediary, the cash consideration is expected to be paid to the broker, trustee, financial institution, dealer, bank or trust company in whose name the shares are registered on behalf of such beneficial shareholders.

Beneficial shareholders should contact their broker, trustee, financial institution, dealer, bank, trust company if they have any questions regarding this process.


© Copyright Weyburn This Week 2014

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