Argus Corporation Limited Announces it Intends to Redeem all of its Class A and B Preference Shares.Business Editors TORONTO--(BUSINESS WIRE)--Jan. 19, 2004 Argus Corporation Argus Corporation, based in Toronto, Ontario, is an investment and holding company founded in 1945 by its President E. P. Taylor with minority partners Colonel W. Eric Phillips and Wallace McCutcheon and other investors. Limited (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : AR.PR.A) (TSX: AR.PR.D) (TSX: AR.PR.B) today announced that it intends to redeem all of its outstanding Class A and Class B Preference Shares upon the successful completion by Press Holdings International Limited of its previously-announced take-over bid offer for shares of Hollinger Inc. ("Hollinger") (TSX: HLG HLG High Level Group (NATO) HLG Hannibal-Lagrange College (Missouri) HLG Hand Launched Glider HLG Half-Life Guard (anti-cheat for half-life based games) HLG Hawk Logistics Group .C, HLG.PR.B, HLG.PR.C). In accordance with the terms of each of the Class A Preference Shares $2.50 Series, Class A Preference Shares $2.60 Series and Class B Preference Shares 1962 Series, Argus intends to give notice to the holders of these shares of its intention to redeem their shares. The redemption is to take place on the taking up and payment for the shares of Hollinger held by Argus pursuant to the previously-announced Offer of Press Holdings to acquire the shares it holds of Hollinger. The board of directors of Argus has approved the Offer of Press Holdings. Press Holdings is to make an offer on or before January 28, 2004 to shareholders of Hollinger by way of a take-over bid to acquire all of the outstanding common shares, Series II Preference Shares and Series III Preference Shares of Hollinger. The redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. for each Argus Class A and Class B Preference Share will be CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $52.50 per share plus any accrued and unpaid dividends Unpaid dividend A dividend declared by the directors of a corporation that has not yet been paid. unpaid dividend 1. A declared dividend that has not yet been paid. 2. See passed dividend. . Details of the redemption will be provided in notices of redemption to be provided to the holders of these shares. The redemptions of the Class A and Class B Preference Shares are intended to occur on the date that the Hollinger shares are taken up and paid for under the Offer. The redemptions are to occur no less than 30 days from the notices of redemption and are to be conditional on the successful completion of the Offer. As of January 16, 2004, there were 22,324 Class A Preference Shares $2.50 Series, 55,893 Class A Preference Shares $2.60 Series and 298,400 Class B Preference Shares 1962 Series outstanding. The last trading price Trading price The price at which a security is currently selling. of the $2.50 Series, $2.60 Series and 1962 Series were respectively CDN $45.00, CDN $42.00 and CDN $27.32 respectively. |
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