Crude Holdings Acquisition, LLC

June 08, 2005 17:41 ET

Crude Holdings Acquisition, LLC: Press Release

MORRISTOWN, NEW JERSEY--(CCNMatthews - June 8, 2005) - Crude Holdings Acquisition, LLC, a Delaware limited liability company, reported that it had today acquired ownership of 6,782, 290 common shares (the "Purchased Shares") of World Point Terminals Inc. (WPO, Toronto Stock Exchange) for a purchase price of US$17,905,245.60 (US$2.64 per share). The Purchased Shares represent 32.18% of the issued and outstanding common shares of World Point Terminals Inc. based on the number of issued and outstanding shares reported by World Point in its report for the quarter ended March 31, 2005. The transaction was completed pursuant an agreement between the sellers and the buyer and was not transacted through or on any public market or exchange. Crude Holdings Acquisition, LLC reported that it had no current plans to acquire ownership or control over additional shares of the capital stock of World Point Terminals Inc. The agreement pursuant to which the shares were purchased provided for a cash payment in full for the shares at the closing.

A copy of the early warning report of Crude Holdings Acquisition, LLC may be obtained from Ted Walsh at WR Capital Partners, LLC by contacting him at (973) 290-2300.

Contact Information

  • WR Capital Partners, LLC
    Frank E. Walsh
    (973) 290-2300