FYI
FOR: DERLAN INDUSTRIES LIMITED
TSE SYMBOL: DRL DRL.PR.A
APRIL 15, 1998
Derlan Industries Limited Announces Preference Share
Redemption
TORONTO, ONTARIO--Derlan Industries Limited announced that it has
today mailed to all of the holders of its Preference Shares,
Series A a formal notice of redemption for all of its remaining
issued and outstanding Preference Shares, Series A.
The redemption will take place on June 15, 1998 at a redemption
price of $8.50 per share plus $0.1686 for accrued and unpaid
dividends. In accordance with the provisions of Derlan's articles
governing the Preference Shares, Series A, the $8.50 redemption
price will be satisfied by the delivery of 1.535404 Common Shares
of Derlan for each Preference Share, Series A. The closing price
for the Common Shares on The Toronto Stock Exchange on April 14,
1998, was $5.65 per share. The $0.1686 in accrued and unpaid
dividends will be paid in cash on the redemption date.
Derlan Industries is a TSE-listed global industrial corporation,
manufacturing products for the aerospace, semiconductor and pump
industries. The company has operations in Canada, the United
States, Mexico and Germany. |
