GREY:LSTMF - Post by User
Post by
hawkowlon Nov 14, 2005 8:05am
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Post# 9859607
PBN appoints special committee
PBN appoints special committeeCNW] Pe Ben appoints Special Committee & financial advisor
EDMONTON, Nov. 14 /CNW/ - Pe Ben Oilfield Services Ltd. (the "Company")
advises that the Board of Directors has met to consider the unsolicited offer
announced by Mullen Group Income Fund. The Board believes that the announced
offer price of $12.00 cash per common share of the Company is inadequate in
light of the Company's third quarter financial results released November 7,
2005 and future prospects in the Company's areas of business.
A Special Committee of the Board of Directors has been established to
deal with the unsolicited offer. Capital West Partners of Vancouver, British
Columbia have been selected by the Special Committee to act as financial
advisors and to assist in responding to the unsolicited offer.
Shareholders are advised that the Special Committee will report to the
Board with its views and a recommendation regarding the offer after receiving
advice from its financial advisors.
-0- 11/14/2005
/For further information: please contact Ian Dawson, Chair of the Special
Committee, at (604) 669-1066, email: idawson(at)telus.net or Capital West
Partners, attention Doug Irwin, at (604) 718-6800, email: doug(at)capwest.com/