Royal Millenia Group Limited Repeats its $10 Million Offer to Purchase Davie Industries.CALGARY, ALBERTA--(BUSINESS WIRE)--April 24, 1998--(NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :RMGL) (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :RMGL) Royal Millenia Group Ltd (RMGL) an investment company with its head office in Calgary, Alberta, has yet to receive a formal response to its offer of April 6 th 1998 to make a $25 Million (U.S.) investment, at $1.33 (U.S.) a share, in Dominion Bridge Corporation (DBC See dBA. (language, parallel) DBC - A data-parallel bit-serial C based on MPL. SRC, Bowie MD. E-mail: <maya@super.org>. ), an important Canadian company active in the international engineering and infrastructure markets, with its head office in Montreal. This financing offer which could lead to a major participation in the ownership of DBC, is supported by Yorkton Securities and was submitted to the board of directors of DBC and to DBC's investment banker Legg Mason Wood Walker. RMGL also has, at the request of the management of Davie Industries (DI), reinstated its $10 Million (U.S.) offer to purchase DI, a subsidiary of DBC. In support of its offer to acquire DI together with a facility for the necessary working capital, RMGL has arranged to make available a $100 Million (U.S.) performance bond for the construction of the Amethyst II and III projects and the refurbishment of the Spirit of Columbus platform. This bonding is subject to a change of ownership of Davie Industries and the availability of working capital from Royal Millenia Group Ltd. RMGL president, James Carswell, stated that his company is ready, willing and able to take Davie to the next level. "We have worked extensively with Davie management in an effort to ensure the continuity of the company", said Mr Carswell. Royal Millenia Group Ltd is listed over-the-counter on the Bulletin Board of NASDAQ (NASDAQ/OTC/BB : RMGL). Dominion Bridge Corporation is listed on NASDAQ (NASDQ/NMS : DBCO) and on 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). (VSE See DOS/VSE. VSE - Virtual Storage Extended : DMO DMO Debt Management Office (Bank of England) DMO Destination Marketing Organization DMO Defence Materiel Organisation (Australia) DMO Dental Maintenance Organization DMO Distributed Mission Operations .U). CONTACT: Royal Millenia Group Ltd. Sameer Hirji, 403/263-3993 |
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