Here we go!!Pacific Safety investor Stonehouse against takeover
Ticker Symbol: C:PSP
Pacific Safety investor Stonehouse against takeover
Pacific Safety Products Inc (C:PSP)
Shares Issued 25,741,153
Last Close 5/13/2010
.17
Friday May 14 2010 - News Release
Mr. Daniel Marks of Stonehouse Capital reports
STONEHOUSE ANNOUNCES INTENTION TO VOTE AGAINST PACIFIC SAFETY PRODUCTS INC. PLAN OF ARRANGEMENT
Stonehouse Capital Management Inc., on behalf of certain of its client accounts that hold a total of 2,547,500 common shares of Pacific Safety Products Inc., representing approximately 9.9 per cent of the total issued common shares of Pacific Safety, intends to vote against the company's proposed plan of arrangement with Revision Eyewear Inc.
Stonehouse wishes to assist in the enhancement of shareholder value and believes that the plan of arrangement announced in Stockwatch on May 13, 2010, does not provide adequate value to Pacific Safety's shareholders.
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