Teknion Corporation

Teknion Corporation

February 27, 2008 09:22 ET

Teknion Corporation's Plan of Arrangement Completed

TORONTO, ONTARIO--(Marketwire - Feb. 27, 2008) - Teknion Corporation (TSX:TKN) ("Teknion") announced today the completion of its previously announced Plan of Arrangement pursuant to which 2158436 Ontario Limited, an affiliate of Teknion's controlling shareholder, A-Tean Holdings Limited, acquired all of Teknion's outstanding Subordinate Voting Shares (other than those held by Teknion's controlling shareholders and its affiliates) at a price of $3.15 cash per share.

Teknion shareholders who hold their Subordinate Voting Shares through a broker or other financial intermediary will receive payment of the purchase price for their Subordinate Voting Shares through the broker or other financial intermediary, following the deposit by the broker or financial intermediary of share certificates with Computershare Investor Services Inc., the depositary for the Plan of Arrangement. Shareholders who hold their Subordinate Voting Shares in registered form will receive payment of the purchase price following the deposit of their share certificates with the depositary in accordance with the instructions contained in the Letter of Transmittal previously sent to registered shareholders. Any questions regarding payment of the purchase price, including any request for an additional copy of the Letter of Transmittal, should be directed to the depositary via telephone at 1.800.564.6253 (toll free in North America) or 514-982-7555 or via e-mail at corporateactions@computershare.com.

With the completion of the Plan of Arrangement, Teknion will cease to be listed for trading on the Toronto Stock Exchange.

This news release contains "forward-looking statements" within the meaning of applicable securities laws relating to the proposal to take Teknion Corporation private. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements. The statements in this news release are made as of the date of this release, and except as required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact Information

  • Teknion Corporation
    Steven E. Cohen
    Senior Vice President, Corporate Development
    (416) 661-1577, ext. 2456
    Teknion Corporation
    Scott E. Bond
    Senior Vice President, Chief Financial Officer & Secretary
    (416) 661-1577, ext. 2391
    Website: www.teknion.com