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Coast Wholesale Appliances Inc announces cancellation of British Columbia Securities Commission Hearing on shareholder rights plan

Monday, 14 Apr 2014 08:00am EDT 

Coast Wholesale Appliances Inc:Reaches an agreement with CWAL Investments Ltd with respect to Coast's shareholder rights plan as it relates to CWAL's offer to purchase all shares of Coast not beneficially owned by CWAL and its joint actors at a price of $4.55 per share.As a result of Coast's agreement with CWAL, CWAL has withdrawn its application to the British Columbia Securities Commission to cease trade the rights plan and the hearing scheduled for April 14 to address such application will be cancelled.Says the board continues to recommend to shareholders of Coast that they REJECT the Offer and DO NOT TENDER their common shares to the inadequate Offer. 

Company Quote

-0.03 -0.64%
2 Sep 2014