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EPI ENVIRONMENTAL TECHNOLOGIES INC Approves Proposal To Take EPI Private At $0.23 Per Share

Monday, 29 Jul 2013 06:35pm EDT 

EPI ENVIRONMENTAL TECHNOLOGIES INC announced that it has approved, a proposal by Joseph Gho, a director and the Chief Executive Officer of EPI, together with certain of his family affiliates (the Gho Family), to take EPI private by way of a share consolidation. The proposal was made by the Gho Family on the basis that the administrative burden associated with EPI's status as a reporting company outweighs any benefits to EPI and minority shareholders resulting from that status. Under the Gho Family's proposal, the going-private transaction will be accomplished through the consolidation of EPI's issued and outstanding shares. The proposal contemplates the consolidation of EPI's shares on the basis of one new common share for approximately each 16,617,776 common shares now outstanding. Those shareholders who would otherwise have been entitled to receive fractional shares will instead be paid $0.23 in cash per common share held by them prior to the consolidation, and the Gho Family will become the sole shareholder of EPI. 

Company Quote

26 Mar 2015