Automodular Corporation

Automodular Corporation

July 13, 2010 15:57 ET

Automodular Corporation: Substantial Issuer Bid Update

AJAX, ONTARIO--(Marketwire - July 13, 2010) - Automodular Corporation ("Automodular") (TSX:AM) reports that it has been advised by Franklin Templeton Investments Corp. that one of its funds, Bissett Microcap Fund has determined to tender 2,590,000 common shares to the substantial issuer bid announced by the Company on June 11, 2010 (the "Offer"). As disclosed in the issuer bid circular in respect of the Offer, Franklin Templeton Investments Corp. had advised that it may deposit common shares to the Offer but had not determined how many shares to deposit.

The Offer is scheduled to expire at 5:00 p.m. (Toronto time) on July 20, 2010, unless extended. 

Automodular is a supplier of sub-assembly, sequencing and transportation services to two OEM plants in Ontario. The Company has three operating facilities and employs approximately 600 people.

This press release contains forward-looking statements that involve a number of risks and uncertainties. Specific forward-looking statements in the document relate to the change in intentions in respect of the tendering of common shares and the number of common shares to be tendered as noted above as well as the scheduled closing of the Offer. Except as required under continuous disclosure obligations, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise

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