Clearly Canadian Extends Offer Deadline in Response to Sun-Rype Shareholders' Concerns.VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 6, 1996-- Clearly Canadian This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. today announced it has amended its bid for Sun-Rype shares by extending the expiry date expiry date expire n → date f d'expiration; (on label) → à utiliser avant ... expiry date expire n → Ablauftermin m to Aug. 19, 1996, and waiving the condition that a minimum of one Sun-Rype A Share and 4,000,000 Sun-Rype B Shares be tendered under the Offer. "This means that Clearly Canadian will be proceeding with its Offer even if the British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography Fruit Growers Association ("BCFGA BCFGA British Columbia Fruit Growers Association ") does not tender any of their Sun-Rype A Shares," said Douglas Mason
"Many shareholders are upset with the close-minded approach of Sun-Rype management and the BCFGA to our premium offer. Today's decision responds to the legitimate concerns of Sun-Rype shareholders and Clearly Canadian challenges Sun-Rype and the BCFGA to support their wildly hypothetical claims about valuation. It is now time for Sun-Rype and the BCFGA to follow, rather than dictate, the real wishes and needs of their respective shareholders and delegates," said Mason. Clearly Canadian has amended its bid so that: - Shareholders have additional time to consider the Offer, given the recent ruling of the British Columbia Securities Commission The British Columbia Securities Commission (BCSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of British Columbia. External links
- Sun-Rype's directors have additional time to present to Shareholders an updated valuation of the Sun-Rype B Shares, as urged by the B.C. Securities Commission. - Executive members of the BCFGA have time to consider whether to convene a meeting of the BCFGA's District Councils in order to permit delegates of the BCFGA to canvas members of their respective districts and to discuss and assess the merits of the Offer. - The B.C. Securities Commission will have sufficient time to hold a hearing at Clearly Canadian's request and render a decision as to the making of a cease trade order in respect of the Shareholder Rights Plan, which will allow Clearly Canadian to take up Sun-Rype B Shares tendered under the Offer without triggering the Plan's dilutive provisions. -0- ON BEHALF OF THE BOARD OF DIRECTORS Douglas L. Mason Chairman, Chief Executive Officer and President -0- The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CLEARLY CANADIAN BEVERAGE CORPORATION is the registered holder of the trademark CLEARLY CANADIAN(R). CLEARLY CANADIAN BEVERAGE CORPORATION, and its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , manufacture, distribute and market CLEARLY CANADIAN(R), CLEARLY TEA(TM), CLEARLY 2(TM), CLEARLY CANADIAN QUENCHER quench tr.v. quenched, quench·ing, quench·es 1. To put out (a fire, for example); extinguish. 2. To suppress; squelch: (TM) and ORBITZ(TM) flavoured and unflavoured beverages. Through distribution and/or licensing agreements, CLEARLY CANADIAN products are sold throughout the United States, Canada, Japan, the United Kingdom, the Republic of Ireland, the Caribbean and numerous other countries worldwide. CONTACT: Clearly Canadian Beverage Corp. Kelly Lendvoy, 604/307-7976 |
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