David, a news release from Gravis:
ADVANCED GRAVIS COMPUTER TECHNOLOGY LTD. ANNOUNCES COMPLETION OF PLAN OF ARRANGEMENT
BURNABY, B.C., Jan. 22 /CNW/ - Further to the Company's announcements of
January 14 and 16, 1997 regarding shareholder and British Columbia Supreme
Court approval of the Company's Plan of Arrangement (the ``Plan''), the
Company announces that the Plan has today been accepted for filing by the
British Columbia Registrar of Companies. Accordingly, the Plan is effective
today and the Company is now a wholly-owned subsidiary of Pyramid Acquisition
Corp., a subsidiary of ACCO World Corporation.
All of the outstanding shares of the Company not previously held by
Pyramid, other than those for which valid Notices of Dissent were given, have
today been acquired by Pyramid at a price of $0.50 per share. Notices of
Dissent were given to the Company in respect of only 1,680 Shares. Under the
terms of the Plan, those shares have been acquired by the Company, at a price
to be determined by the Court. Payments to shareholders will be made in
accordance with the terms of the Plan of Arrangement.
The Company's Common Shares will be delisted from the Toronto Stock
Exchange as soon as possible.
Advanced Gravis is a leader in the PC entertainment market. It designs,
manufactures and markets joysticks, GamePads and high-end sound cards for both
Macintosh and IBM-compatible computers to customers worldwide.
``K. Michael Cooper''
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K. Michael Cooper, President and CEO |
