MP Western Properties Announces Completion of Arrangement
July 07 2011 - 12:17PM
Marketwired
MP Western Properties Inc. ("MPW") (TSX VENTURE: MPW.H) is pleased
to announce that MPW and Madison Pacific Properties Inc.
("Madison") have completed a plan of arrangement (the
"Arrangement") among MPW, MPW's shareholders and Madison.
Pursuant to the requirements of the Canada Business Corporations
Act, the Arrangement was approved by over 99% of the votes cast by
holders of MPW's voting shares and non-voting shares and by a
majority of the minority voting shares, each voting separately as a
class at an annual and special meeting of the shareholders of MPW
held on June 29, 2011. The Supreme Court of British Columbia
approved the Arrangement on July 6th, 2011.
Under the terms of the Arrangement, Madison has acquired all of
the issued and outstanding shares of MPW held by minority
shareholders of MPW in exchange for a cash payment of $0.06 per
share. Madison and MPW encourage those shareholders of MPW, who
have not yet done so, to tender their shares of MPW, along with a
completed letter of transmittal to CIBC Mellon Trust Company.
Neither NEX nor its Regulation Services Provider accepts
responsibility for the adequacy or accuracy of this release.
Contacts: MP Western Properties Inc. Mr. Bill Ramsey Chief
Financial Officer 604-732-6540
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