If this statement is true then we have more proof that he intentionally mislead the Investors once again.
"and there was no such equivalent level of interest forthcoming from any party," he said
Please refer to the NR where Luxton states
"Discussions have advanced to the point where we may shortly conclude definitive terms, but should we not do so then we will resume discussions with other specific, interested parties"
OTHER SPECIFIC INTERESTED PARTIES!!!!!!!
OTTAWA, July 2 /CNW/ - Allen-Vanguard Corporation (TSX: VRS) ("Allen-Vanguard" or the "Company") of Ottawa, Canada today announced that it reached an agreement with its Lending Syndicate ("lenders") that defers to September 30, 2009 the US$4.8 million quarterly principal repayment otherwise due today under the existing credit agreement with the lenders dated December 29, 2008.
In conjunction, the Company reported on the status of discussions with an undisclosed U.S. investor with which it has been engaged on an exclusive basis since April regarding a going-private transaction. "This has been an extensive process," said David E. Luxton, President and CEO. "Discussions have advanced to the point where we may shortly conclude definitive terms, but should we not do so then we will resume discussions with other specific, interested parties with a view to reducing our long-term debt by a minimum of $US50 million by September 30, 2009, as previously stated." |
