CON-SPACE Completes Going Private Transaction
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RICHMOND, BRITISH COLUMBIA--(Marketwire - Oct. 30, 2009) - CON-SPACE Communications Ltd. (the "Company" or "CON-SPACE") (TSX VENTURE: CCB), (http://www.con-space.com), announces today the completion of the Plan of Arrangement whereby Turret Oy AB ("Turret"), Con-Space's largest shareholder and secured lender, has acquired all of the outstanding common shares of Con-Space that it did not already own. Con-Space shareholders approved the arrangement by special resolution at the shareholders meeting held October 23, 2009, and the arrangement received final court approval on October 28, 2009. It is anticipated that Con-Space's common shares will be delisted from the TSX Venture Exchange in early November 2009.
For shareholders who hold their Con-Space shares through a broker, the payment of the purchase price will be processed after the broker deposits the share certificates with CIBC Mellon Trust Company, the Depositary for the transaction, in accordance with the instructions in the letter of transmittal sent to the shareholders. For shareholders who hold their Con-Space shares in registered form, the payment of the purchase price will be processed after they deposit their share certificates with the Depositary in accordance with the instructions in the letter of transmittal. Any questions regarding payment of the purchase price, including any request for another form of letter of transmittal, should be directed to the Depositary at 1-800-387-0825 or 416-643-5500 or via email at enquiries@cibcmellon.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
CON-SPACE Communications Ltd.
Paulin Laberge
Interim Chief Executive Officer
invest@con-space.com
Source: CON-SPACE Communications Ltd.
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