CORP. / Fracmaster plans Balm strategy
FRACMASTER LTD.
CALGARY, Sept. 22 /CNW/ - Further to the recent announcement of September
16, 1998 by Mr. Alfred Balm of his intention to sell approximately 18,000,000
common shares representing approximately 43% of the issued capital of the
Corporation, the Board of Directors has established a Special Committee of
independent directors to initiate a process to explore a sale of the
Corporation in a manner designed to maximize value for all shareholders.
The Special Committee has appointed Credit Suisse First Boston
Corporation and Newcrest Capital Inc. as financial advisors.
Fracmaster Ltd. is an international oil and gas service and production
company which is listed on the New York Stock Exchange, the Toronto Stock
Exchange and the Montreal Exchange and trades under the symbol ''FMA''.
%SEDAR: 00001186E
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For further information: Les J. Margetak, President and Chief Executive
Officer, Gary T. Sherkey, Senior Vice President, Finance & Administration,
Chief Financial Officer, Fracmaster Ltd., (403) 262-2222, Fax: (403) 266-0505
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