Viterra Inc.
TSX : VT

Viterra Inc.

September 09, 2009 23:39 ET

Court Approves ABB Scheme of Arrangement

CALGARY, ALBERTA--(Marketwire - Sept. 9, 2009) - Viterra Inc. (TSX:VT) is pleased to announce it has been advised by ABB Grain Ltd ("ABB") (ASX:ABB) that the Federal Court of Australia today made orders approving the ABB Scheme of Arrangement as described in ABB's Scheme booklet dated 30 July 2009.

The court ruling follows the approvals received by shareholders at meetings held yesterday. A copy of the orders will be lodged with the Australian Securities and Investments Commission. The effective date of the Scheme is expected to be 11 September 2009 (in Australia).

Subject to ABB's Scheme becoming effective, it is expected that:

- The Australia Securities Exchange ("ASX") will suspend trading in ABB Grain Shares at the close of trading on 11 September 2009.

- The trading in Viterra CDIs on a deferred settlement basis on the ASX will commence on 14 September 2009.

- The record date for the ABB Grain Special Dividend will be 17 September 2009.

- The deadline for receipt of Scheme Consideration Election Forms is 18 September 2009 (5:00 pm).

- The Scheme Record Date for determining entitlements to Scheme Consideration is 18 September 2009 (6:30 pm).

- The Implementation date is 23 September 2009.

- Trading in Viterra Shares issued under the Scheme on the TSX will commence on 24 September 2009.

- The expected payment date for the ABB Grain Special Dividend is 28 September 2009.

- The holding statements for Viterra CDIs is 28 September 2009.

- The first day for dispatch of Cash Consideration is 29 September 2009.

- The last day of trading in Viterra CDIs on deferred settlement basis on the ASX is 28 September 2009.

- The commencement of trading in Viterra CDIs on the ASX on a normal settlement basis is 29 September 2009.

- The last day for despatch of Cash Consideration, certificates for Viterra Shares and holding statements for Viterra CDIs is 8 October 2009.

- The last day for sales to be completed under the Cash Out Facility is 15 October 2009.

Terms capitalized but not otherwise defined shall have the meaning given to them in the Scheme Booklet. The above times and dates are indicative only. Any changes to the timetable will be posted to ABB's and Viterra's respective websites at www.abb.com.au and www.viterra.ca.

Forward-Looking Information

This release contains forward looking statements that involve certain risks and uncertainties which could cause actual results and anticipated transaction benefits to differ materially from future results and anticipated benefits expressed or implied by such statements. Important factors that could affect these statements include, without limitation, weather conditions; producer's decisions regarding total planted acreage, crop selection, and utilization levels of farm inputs such as fertilizers and pesticides; grain export levels; changes in government policy and transportation deregulation; world agricultural commodity prices and markets; changes in competitive forces including pricing pressures; and global political and economic conditions, including grain subsidy actions of the United States and European Union.

About Viterra

Viterra Inc. is Canada's leading agribusiness, with extensive operations and distribution capabilities across Western Canada, and with operations in the United States, Japan, Singapore and Geneva. The Company is diversified into sales and services of crop inputs and equipment, grain handling and marketing, livestock feed, agri-food processing and financial products. These operations are complemented by value-added businesses and strategic alliances, which allow Viterra to leverage its pivotal position between Prairie farmers and destination customers. The Company's common shares are listed on the TSX under the symbol VT.

Interested parties are invited to visit (www.abbplusviterra.com)

Contact Information

  • Viterra Inc.
    Tom Steve
    Director of Corporate Affairs
    (306) 569-4262
    Website: www.viterra.ca