Regalito Copper Corp. to De-List Common Shares from the American Stock Exchange
07 July 2006 - 3:23AM
PR Newswire (US)
VANCOUVER, July 6 /PRNewswire-FirstCall/ -- On May 12, 2006, PPC
Canada Enterprises Corp. ("PPC Canada"), a wholly owned subsidiary
of Pan Pacific Copper Co., Ltd. ("PPC"), acquired more than 90% of
the issued and outstanding common shares of Regalito Copper Corp.
(the "Common Shares") pursuant to a take-over bid. On May 15, 2006,
PPC Canada gave notice to holders of the Common Shares not already
owned by PPC Canada that it intended to acquire their shares
pursuant to the compulsory acquisition provisions of the Business
Corporations Act (British Columbia). The compulsory acquisition is
expected to complete on July 17, 2006 whereupon the Common Shares
will be de-listed from the Toronto Stock Exchange ("TSX") and
American Stock Exchange ("AMEX"). In the event that the compulsory
acquisition does not occur on July 17, 2006, Regalito Copper Corp.
("Regalito") has informed the AMEX that it intends to take steps
required to voluntarily de-list the Common Shares from the AMEX and
to terminate the registration of the Common Shares under the
Securities Exchange Act of 1934, as amended (the "Exchange Act").
In such event, Regalito expects that trading of its Common Shares
on the AMEX will cease on or around July 27, 2006. The Board of
Directors of Regalito are of the opinion that in view of the small
number of holders of the Common Shares (including less than 300
holders of record resident in the United States) and PPC Canada's
election to acquire the remaining Common Shares pursuant to the
compulsory acquisition, it is not in Regalito's best interest to
continue to list the Common Shares for trading on the AMEX and to
continue to incur the administrative and financial expenses
involved in maintaining the registration of Common Shares under the
Exchange Act. Forward Looking Statements This press release
contains "forward-looking statements" that are subject to a number
of risks and uncertainties, many of which are beyond the control of
PPC, PPC Canada and Regalito, that could cause actual results to
differ materially from those set forth in, or implied by, such
forward looking statements. All statements other than statements of
historical facts included in this press release are forward-looking
statements. All forward-looking statements speak only as of the
date of this press release. Neither PPC, PPC Canada nor Regalito
undertake any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. Contact Mr. Eiji Kato Chief Executive Officer and
Director Regalito Copper Corp. tel: 81-3-3560-8628 fax:
81-3-3560-8637 DATASOURCE: Regalito Copper Corp. CONTACT: Mr. Eiji
Kato, Chief Executive Officer and Director, Regalito Copper Corp.,
tel: 81-3-3560-8628, fax: 81-3-3560-8637
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