Benvest Capital Announces Filing of Information Circular.MONTREAL -- Benvest Capital Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :BCI BCI Bat Conservation International BCI Brain-Computer Interface BCI Business Continuity Institute BCI Business Cycle Indicators BCI Banco de Credito e Inversiones (Chilean bank) BCI Bell Canada International ) today announced that it has filed an information circular Information Circular A document sent to shareholders outlining important matters to be discussed at the annual shareholders' meeting. Notes: Sent along with a proxy, the information circular may cover matters such as the election of the Board of Directors, possible pursuant to an interim order granted, on March 18, 2005, by the Quebec Superior Court Quebec Superior Court is the highest trial Court in the Province of Quebec, Canada. It consists of 144 judges who are appointed by the federal government following the recommendation of the Premier of Quebec. (the "Interim Order") in respect of a special meeting of shareholders of Benvest to consider, among other things, a plan of arrangement under the Canada Business Corporations Act The Canada Business Corporations Act, also known as Bill C-44, is a Canadian act respecting Canadian business corporations. See also
An information circular describing the reorganization and detailing the proposed Arrangement has been filed, and will be mailed shortly to shareholders.A copy of the information circular can be viewed in its entirety at www.sedar.com. The Arrangement is subject to the approval of Benvest's shareholders at the special meeting to be held April 22, 2005.The Board has unanimously recommended that Benvest shareholders approve the proposed Arrangement.Directors and senior management of Benvest, who control approximately 63% of Benvest's issued and outstanding common shares have indicated that they intend to vote in favour of the Arrangement at the shareholder meeting. Until August 31, 2003, Benvest Capital Inc. was a merchant bank with a diverse portfolio of assets in various service industries. Its new corporate mission is as an operating public company with Lunetterie New Look International Inc. at its base.New Look is a leading enterprise in the eye care industry in Eastern Canada, with growth opportunities based on demographic trends and the consolidation of the industry in Canada. On November 30, 2004, Benvest sold its investment in CMN CMN Common CMN Children's Miracle Network (since 1983; Salt Lake City, Utah) CMN Certificate of Medical Necessity CMN Canadian Museum of Nature CMN Community Mapping Network CMN Common Information International Inc. (real estate services industry) for a consideration of US$14,995,000.Post-closing of the CMN transaction, Benvest holds one non-strategic asset: The Fitness Company (82%), a US health and fitness club company. BENVEST CAPITAL INC. (TSX:BCI) |
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