LONDON, July 15 /PRNewswire-FirstCall/ -- Cascal
N.V. (NYSE: HOO) (the Company) announced today that it has
notified the New York Stock Exchange (the "NYSE") of its intent to
voluntarily delist its common shares from the NYSE, and that it
intends to deregister its common shares under the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), and suspend
its obligations to file reports with the Securities and Exchange
Commission ("SEC").
As previously disclosed in connection with Sembcorp
Utilities Pte Ltd.'s ("Sembcorp") bid for all of the issued and
outstanding common shares of the Company, Sembcorp intended,
subject to and in accordance with applicable laws, to cause the
Company to (1) delist its common shares from the NYSE, (2) suspend
its obligation to file reports under the Exchange Act, pending
termination of registration of its common shares under the Exchange
Act and (3) terminate the registration of its common shares under
the Exchange Act. Accordingly, the Company's Board of Directors
resolved to delist and deregister.
The Company anticipates that it will file with the SEC a Form 25
relating to the delisting of its common shares on or about
July 26, 2010, with the delisting of
its common shares to be effective ten days thereafter.
Accordingly, the Company anticipates that the last day of
trading of its common shares on the NYSE will be Friday, August 6, 2010.(1)
On the effective date of the delisting, the Company plans to
file a Form 15 to deregister its common shares under Section 12 of
the Exchange Act. It is eligible to delist and deregister
because it has fewer than 300 record holders of its common shares.
Upon the filing of the Form 15, the Company's obligation to
file certain reports with the SEC, including Forms 20-F and 6-K,
would immediately be suspended. The Company expects that the
deregistration of its common shares would become effective 90 days
after the date the Form 15 is filed with the SEC.
About Cascal N.V.
Cascal provides water and wastewater services to its customers
in eight countries: the United
Kingdom, South Africa,
Indonesia, China, Chile,
Panama, Antigua and The
Philippines. Cascal's customers are predominantly homes and
businesses representing a total population of approximately 4.7
million.
Forward-looking statements
This release contains forward-looking statements that are not
guarantees of future performance. There are important factors, many
of which are outside of our control, that could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements including: general economic
business conditions, unfavorable weather conditions, housing and
population growth trends, changes in energy prices and taxes,
fluctuations with currency exchange rates, changes in regulations
or regulatory treatment, changes in environmental compliance and
water quality requirements, availability and the cost of capital,
the success of growth initiatives, acquisitions and our ability to
successfully integrate acquired companies and other factors
discussed in our filings with the Securities and Exchange
Commission, including under Risk Factors in our Form 20-F for the
fiscal year ended March 31, 2010,
filed with the SEC on June 25, 2010.
We do not undertake and have no obligation to publicly update or
revise any forward-looking statement.
(1) 10 days after filing Form 25
Investor Contacts:
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Media Contact:
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KCSA Strategic
Communications
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KCSA Strategic
Communications
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Jeffrey Goldberger / Marybeth
Csaby
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Lewis Goldberg
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+1 212.896.1249 / +1
212.896.1236
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+1 212.896.1216
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jgoldberger@kcsa.com /
mcsaby@kcsa.com
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lgoldberg@kcsa.com
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SOURCE Cascal N.V.