Extraordinary Meeting Mar. 23
Synex International Inc. announces sale of Brown Lake Hydroelectric Plant
TSE : SXI
VANCOUVER, Feb. 9 /CNW/ - Synex International has previously announced
that EPCOR Group of Edmonton has agreed to purchase its Brown Lake Plant for
approximately $22 million and assume the project debt of about $10.5 million.
Synex International advises that an Extraordinary General Meeting to
approve the sale of its Brown Lake Plant is scheduled for March 23, 2000. The
proposed sale is subject to the approval of the Synex shareholders by way of a
special resolution. It will also be subject to approval by a majority of the
minority shareholders of Synex, excluding the controlling shareholder of
Synex, Greyvest Capital Inc, and its associates, affiliates and insiders. The
proposed sale is also subject to the receipt of all necessary regulatory
approvals, including the approval of The Toronto Stock Exchange.
Synex International Inc is a public company, trading on The Toronto Stock
Exchange, which has three operating divisions covering: the development and
marketing of business intelligence and accounting related software products;
the development and operation of electrical generation facilities; and an
engineering group providing services for the control and use of water,
particularly hydro power.
``signed'
------------------------
Alan Stephens, President
%SEDAR: 00002435E
-0- 02/09/2000
For further information: Alan Stephens, President, (604) 688-8271, Fax (604) 688-1286, E-mail astephens@synex.com, Web Site: www.synex.com |
