GREY:NOVUF - Post by User
Post by
swervon Aug 23, 2013 8:47am
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Post# 21692065
News Out
News Out Sounds like something in the making!
VALUE OPTIMIZATION PROCESS
On December 4, 2012, Novus announced that it had retained financial advisors to assist the Special Committee of the Board of Directors in exploring and evaluating a broad range of options to optimize shareholder value. The Company confirms that it is currently in exclusive negotiations with respect to a potential transaction. In that regard, the Company received an order of the Court of Queen's Bench of Alberta, as well as confirmation from the TSX Venture Exchange, that it may delay its annual general meeting of shareholders until October 24, 2013. This may save the Company the expense of holding an additional meeting, should the Company undertake a transaction which requires shareholder approval.
Investors are cautioned that there can be no assurance that a potential transaction will result from the current negotiations, and the Company does not intend to disclose future developments with respect to the process unless and until the Board of Directors has approved a specific transaction or otherwise determines that disclosure is appropriate or required.