CIRCO CRAFT CO. INC. - IMPORTANT INFORMATION FOR WARRANT HOLDERS.MONTREAL, QUEBEC--(BUSINESS WIRE)--MAY 30, 1995--CIRCO CRAFT CO(ME, TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : CCC CCC A very speculative grade assigned to a debt obligation by a rating agency. Such a rating indicates default or considerable doubt that interest will be paid or principal repaid. Also called Caa. ) In answer to numerous questions received by the corporate communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. department of Circo Craft Co. Inc. ("Circo Craft") regarding the eligibility for inclusion in a stock savings plan Stock Savings Plan In Canada, a plan wherein some provinces will provide a tax credit for provincial income taxes to residents who spend their income on certain investments. Notes: The purpose is to encourage residents to invest in the provincial economy. pursuant to the Taxation Act (Quebec) of the underlying common shares to the warrants issued on April 20, 1993 and expiring on December 15, 1995, Circo Craft confirms that the common shares that will be newly issued by the Company following the exercise of such warrants by individuals resident in Quebec will, subject to certain conditions set forth in the Taxation Act (Quebec), qualify for inclusion in a stock savings plan pursuant to such Act, thereby entitling such warrant holders to deduct 100 p.cent of their cost of acquisition. However, the common shares purchased upon exercise of the warrants which give their holders the right to acquire the 1,000,000 common shares already outstanding and deposited, on April 20, 1993, by the Selling Shareholders (as defined) for such purpose will not be eligible for inclusion in a Quebec stock savings plan Quebec Stock Saving Plan, in French, Réginme d'épargne-actions (RÉA), was founded on march 27, 1979 by Jacques Parizeau. The QSSP offers taxpayers generous tax write-offs for investments in new public stock issues of compaines whose head office was in Quebec. . Consequently, the warrant holders should check with Montreal Trust Company, the warrant agent, upon exercise of their warrants to determine whether the common shares purchased are i)newly issued by Circo Craft (and thus eligible for inclusion in a Quebec stock savings plan) or ii)taken from the shares set aside by the Selling Shareholders (as defined) and thus not eligible for such inclusion. Circo Craft reminds all interested parties that the above does not constitute legal or tax advice to any particular investor and, consequently, investors should consult their own tax advisors with respect to any matter pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to the warrants and/or the Quebec stock savings plan. CONTACT: Jean-Guy Fontaine Corporate Secretary 514/694-8000 REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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