Student Transportation of America Ltd.
TSX : STB.UN

Student Transportation of America Ltd.

October 06, 2005 07:49 ET

Student Transportation of America Ltd. and Student Transportation of America ULC-New Issue

TORONTO, ONTARIO--(CCNMatthews - Oct. 6, 2005) -

Not for distribution to U.S. news wire services or for dissemination in the United States.

Student Transportation of America Ltd. ("STA Ltd.") (TSX:STB.UN) and Student Transportation of America ULC ("STA ULC", and together with STA Ltd., the "Issuer") has today entered into an agreement with a syndicate of underwriters led by BMO Nesbitt Burns Inc. and including Sprott Securities Inc. and Wellington West Capital Markets Inc. under which the underwriters have agreed to buy 3,100,000 Income Participating Securities (the "IPSs") from the Issuer on a private placement basis and sell to the public at a price of $12.00 per IPS, representing an aggregate amount of $37,200,000. Closing is expected on or about October 25, 2005.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Contact Information

  • Student Transportation of America Ltd.
    Denis J. Gallagher
    Chairman and Chief Executive Officer
    (732) 280-4200 x101
    djgallagher@ridesta.com
    or
    Student Transportation of America Ltd.
    Keith P. Engelbert
    Director of Investor Relations
    (732) 280-4200 x119
    kengelbert@ridesta.com
    or
    Student Transportation of America Ltd.
    Patrick J. Walker
    Chief Financial Officer
    (732) 280-4200 x104
    pwalker@ridesta.com