Raydan Manufacturing Inc. Completes Sale to Link Suspension of Canada, Limited Partnership
14 February 2012 - 1:14PM
PR Newswire (Canada)
EDMONTON, Feb. 15, 2012 /CNW/ - Raydan Manufacturing Inc.
("Raydan") is pleased to announce that it has received final
approval from the Court of Queen's Bench of Alberta and has
satisfied all closing conditions of the previously announced plan
of arrangement, resulting in Link Suspensions of Canada, Limited
Partnership ("LSC") acquiring all of the Acquired Assets (as
defined in the Arrangement Agreement entered into between, among
others, Raydan and LSC dated November 29, 2011, as supplemented,
corrected and amended. With the completion of the Arrangement,
Raydan's common shares will cease to be listed on the TSX Venture
Exchange on or about the close of business on February 17, 2012.
Raydan intends to apply to the relevant securities regulatory
authorities to cease to be a reporting issuer in the applicable
jurisdictions in Canada. As part of the Arrangement, on February
13, 2012, Raydan changed its name to 523976 Alberta Ltd. and will
continue doing business as 523976 Alberta Ltd. (formerly known as
Raydan Manufacturing Inc.) for purposes of winding down the
company. Details of the Arrangement are contained in the
Information Circular dated December 16, 2011 and the Supplement to
the Information Circular dated January 23, 2012, both of which can
be found at www.sedar.com. About Raydan Manufacturing Raydan
Manufacturing Inc, based in Edmonton, Alberta, develops and
produces specialized suspension and coupling systems for trucks,
trailers and heavy equipment, as well as operates a chassis
modification centre. Established in 1992, Raydan exports its
innovative, high-quality products to end-users and original
equipment manufacturers (OEMs) in the heavy-duty truck, crane,
fire/rescue and other severe use sectors around the world. 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. This news release contains forward-looking statements that
involve risks and uncertainties, which may cause actual results to
differ materially from the statements made. Potentially, many
factors could cause our actual results to vary materially from
those described herein as intended, planned, anticipated or
expected. Raydan Manufacturing Inc does not intend and does
not assume any obligation to update these forward-looking
statements. Raydan Manufacturing Inc. CONTACT: Raydan Manufacturing
IncJoan RichardsonOffice Manager/Investor Relations780 955 2859888
472 9326jrichardson@raydanmfg.comwww.raydanmfg.com
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