Dalmys Obtains Court Approval for its Plan of Arrangement and Reorganization of Share Capital.MONTREAL--(BUSINESS WIRE)--Feb. 8, 1996--DALMYS LIMITED (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). ,ME:DYC DYC Division of Youth Corrections DYC Diocesan Youth Council DYC Destilerías Y Crianza (Spanish whiskey) DYC Direct Yaw Moment Control )(DYC.C) Dalmys (Canada) Limited announced today that it has obtained court approval of its Plan of Arrangement and Reorganization of Share Capital providing for the reorganization and downsizing (1) Converting mainframe and mini-based systems to client/server LANs. (2) To reduce equipment and associated costs by switching to a less-expensive system. (jargon) downsizing of its operations and the mandatory redemption of all of its outstanding common shares and non-voting Class "C" shares for a price of $0.25 per share. Receipt of the approval of the court represented the most significant remaining condition to the completion of the transaction between Dalmys and Reitmans Inc. Upon completion of the transaction, which is scheduled to close in early March 1996, Dalmys will become a wholly-owned subsidiary of Reitmans Inc. CONTACT: Dalmys (Canada) Limited Fred Hutchinson, 514/384-1030 Vice President - Finance or Thorne Inc. Michael Pesner, 514/840-2400 KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen Poissant Thibault-Peat Marwick |
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