TSX: SRF
KELOWNA, BC, Sept. 30, 2013 /CNW/ - Sun-Rype Products Ltd. (TSX:SRF)
("Sun-Rype" or the "Company") is pleased to announce that SRF
Acquisition Inc. ("SRF") has acquired all of the issued and outstanding
common shares of Sun-Rype (the "Sun-Rype Shares") pursuant to the
previously announced plan of arrangement among the Company, SRF and
Great Pacific Industries Inc. (the "Arrangement"). The Arrangement
received final court approval on September 26, 2013.
Under the Arrangement, each Sun-Rype Share outstanding immediately prior
to the Effective Time of the Arrangement was deemed transferred to
SRF. Each shareholder whose Sun-Rype Shares were so transferred (each,
a "Shareholder") is entitled to receive from SRF a cash payment of
$7.50 per Sun-Rype Share (the "Cash Consideration").
In order to receive the Cash Consideration, registered Shareholders must
deliver a properly completed letter of transmittal (the "Letter of
Transmittal") and certificate(s) representing their Sun-Rype Shares,
along with any other required documents, to Valiant Trust Company
("Valiant") at the address specified in the Letter of Transmittal. The
Letter of Transmittal was mailed to the registered Shareholders along
with the management information circular dated August 20, 2013 (the
"Circular") and is also available under Sun-Rype's profile on SEDAR at www.sedar.com or by contacting Valiant directly. The Letter of Transmittal is for use
by Registered Shareholders only and is not to be used by non-registered
beneficial holders of Sun-Rype Shares (the "Beneficial Shareholders").
A Beneficial Shareholder does not hold Sun-Rype Shares in its own name
and such shares are held by an intermediary. If you are a Beneficial
Shareholder you should contact your intermediary for instructions and
assistance.
For further details of the Arrangement and the process for receipt by a
Shareholder of the Cash Consideration, please see the Circular, which
is available on SEDAR at www.sedar.com.
In connection with the Arrangement, Sun-Rype has applied for the
delisting of the Sun-Rype Shares from the TSX and will apply to the
applicable securities regulatory authorities to cease to be a reporting
issuer under Canadian securities laws.
About the Company
Sun-Rype Products Ltd., based in Kelowna, BC, is a manufacturer and
marketer of fruit-based juices and snacks.
Forward Looking Statements
Statements contained in this press release, which are not based on
historical fact, including without limitation, statements containing
the words "may", "will", "plans", "intends", "expects", "anticipates",
"believes", "estimate", "continue" and similar expressions, constitute
"forward looking information" within the meaning of applicable Canadian
securities laws. Forward looking statements contained in this document
may involve, but are not limited to, statements relating to the Company
ceasing to be a reporting issuer, the delisting of the Sun-Rype Shares
from the TSX and the Company's objectives, priorities, strategies,
actions, targets, expectations and outlook. Forward looking statements
are necessarily based upon assumptions and predictions with respect to
the future, including but not limited to the factors referred to
below. As a result, forward looking statements are subject to known
and unknown risks, uncertainties and other factors that may cause the
actual results, events or developments to be materially different from
any future results, events or developments expressed or implied
thereby. These risks, uncertainties and other factors include, but are
not limited to, changes in the consumer packaged goods industry and
external market factors, as well as the factors referred to in the
Company's Annual Information Form dated March 6, 2013, and its other
filings with the applicable Canadian securities regulatory
authorities. In light of these uncertainties, assumptions and risks,
readers are cautioned not to place undue reliance on such forward
looking statements. Except as required by law, the Company assumes no
obligation to update or revise such information to reflect later events
or developments.
SOURCE Sun-Rype Products Ltd.
