Vitran's Shareholder Rights Plan Review Deferred by TSX - Rights Plan Remains in Effect
November 06 2013 - 5:25PM
Vitran Corporation Inc. (Nasdaq:VTNC) (TSX:VTN), a premier Canadian
Less-than-Truckload transportation firm, announced today that, in
connection with its recently announced shareholder rights plan (the
"
Rights Plan"), the Toronto Stock Exchange
("
TSX"), in accordance with its standard practice
in connection with similar rights plans, has informed Vitran that
it has deferred consideration of the acceptance of the Rights Plan.
The deferral of the TSX's consideration is until the TSX is
satisfied that the appropriate securities regulatory authority will
not intervene pursuant to National Policy 62-202 in any take-over
bid for Vitran and the ratification by Vitran's shareholders of the
Rights Plan by May 6, 2014.
In accordance with the terms of the Rights Plan, it will expire
on May 2, 2014. Shareholders should note that the Rights Plan
remains in effect while the TSX defers its review.
A copy of the Rights Plan is available on SEDAR at www.sedar.com
and EDGAR at www.sec.gov.
About Vitran Corporation Inc.
Vitran Corporation Inc., through its wholly-owned subsidiaries,
is a group of transportation companies offering national, regional,
expedited and transborder less-than-truckload services throughout
Canada. To find out more about Vitran Corporation Inc.
(Nasdaq:VTNC) (TSX:VTN), visit the website at www.vitran.com.
This press release contains forward‐looking statements within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and applicable Canadian securities laws.
Forward‐looking statements may be generally identifiable by use of
the words "anticipate", "intend", "expect", "project", "may",
"will", "should", "endeavour" or the negative of these words or
other variations on these words or comparable terminology. These
forward-looking statements, which include statements regarding the
expiry of the Rights Plan, are based on current expectations
and are naturally subject to uncertainty and changes in
circumstances that may cause actual results to differ materially
from those expressed or implied by such forward‐looking
statements.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results, to
differ materially from those projected in the forward‐looking
statements. Factors that may cause such differences include, but
are not limited to, regulatory approval and shareholder approval of
the Rights Plan. More detailed information about these and other
factors is included in the annual MD&A on Form 10K under the
heading "General Risks and Uncertainties." Many of these factors
are beyond the Company's control; therefore, future events may vary
substantially from what the Company currently foresees. You should
not place undue reliance on such forward‐looking statements. Vitran
Corporation Inc. does not assume the obligation to revise or update
these forward-looking statements after the date of this document or
to revise them to reflect the occurrence of future unanticipated
events, except as may be required under applicable securities
laws.
CONTACT: William Deluce, Interim President/CEO
Fayaz Suleman, VP Finance/CFO
Vitran Corporation Inc.
416/596-7664
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