CAE Inc. ('CAE') and 4341392 Canada Inc. ('Bidco', collectively with CAE, the 'Offeror') announced today that the cash offer (the 'Offer') to purchase all the issued and outstanding common shares (the 'Engenuity Common Shares') of Engenuity Technologies Inc. ('Engenuity'), as extended on March 30, 2007, has now expired.
On April 3, 2007, Bidco had taken up 14,902,225 Engenuity Common Shares. An additional number of 45,990 Engenuity Common Shares have been tendered to the Offer as of April 12, 2007; once those are taken up Bidco will hold a total of 14,948,215 Engenuity Common Shares representing approximately 85.7% of the total outstanding number thereof. The Offeror intends to take steps in order to proceed with a subsequent acquisition transaction as soon as practicable, pursuant to which the remaining Engenuity Common Shares which have not been tendered to the Offer would be acquired. The Offeror owns a sufficient number of Engenuity Common Shares to approve such a transaction at any special meeting of shareholders called for that purpose.Upon completion of the subsequent acquisition transaction, the Offeror intends to de-list the Engenuity Common Shares from the Toronto Stock Exchange and to cause Engenuity to apply to securities regulatory authorities to cease to be a reporting issuer. |
