TORONTO, ONTARIO -- (Marketwired) -- 04/26/13 -- Artaflex Inc. (TSX VENTURE: ATF) ("Artaflex") announced today that it has completed its going private transaction previously announced on March 26, 2013. Artaflex has filed articles of amendment effecting a consolidation of its common shares on the basis of 1 post-consolidated common share for each 2,500,000 pre-consolidated common shares (the "Consolidation"). The Consolidation has resulted in all of the shareholders of Artaflex (except for Artaflex Holdings Inc. ("AHI")) holding a fractional interest in the post-consolidated common shares of Artaflex. As fractional shares will not be issued, each shareholder of Artaflex will receive $0.05 in cash for each pre-consolidated common share held immediately prior to the Consolidation in lieu of certificates for fractional post-consolidated common shares. AHI is now the sole shareholder of Artaflex holding approximately four common shares.
Artaflex obtained the required shareholder approvals to effect the Consolidation at its recent annual and special meeting of shareholders held on April 23, 2013. It is expected that Artaflex's common shares will be delisted from TSX Venture Exchange at the close of trading on or about April 29, 2013, and an application will be made to the applicable Canadian securities regulatory authorities for an order that Artaflex will no longer be a reporting issuer under Canadian securities laws.
Artaflex is a specialist at delivering integrated product solutions and support to the global technology and electronics industry. As a leading global provider of complete Electronics Manufacturing Services (EMS), Artaflex offers world class manufacturing facilities and global partners throughout Canada, the United States, Israel and China, allowing Artaflex to provide its customers the flexibility and scalability to competitively achieve total solutions to their present and future electronics outsourcing needs. Visit Artaflex at: www.artaflex.com
THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO SUCH MATTERS AS EXPECTED FINANCIAL PERFORMANCE, BUSINESS PROSPECTS, PROPOSED TRANSACTIONS, TECHNOLOGICAL DEVELOPMENTS, DEVELOPMENT ACTIVITIES AND LIKE MATTERS. THESE STATEMENTS INVOLVE RISK AND UNCERTAINTIES, INCLUDING BUT NOT LIMITED TO RISK FACTORS DESCRIBED IN DOCUMENTS FILED WITH REGULATORY AUTHORITIES. ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE PROJECTED AS A RESULT OF THESE RISKS AND SHOULD NOT BE RELIED UPON AS A PREDICTION OF FUTURE EVENTS. ARTAFLEX UNDERTAKES NO OBLIGATION TO UPDATE ANY FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER THE DATE ON WHICH SUCH STATEMENT IS MADE, OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS UNLESS REQUIRED TO DO SO UNDER APPLICABLE LAW.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Chief Executive Officer
Chief Financial Officer
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