https://www.engineeringnews.co.za

Nordex closes going-private transaction with EPC

20th August 2016

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

VANCOUVER (miningweekly.com) – Canadian explosives maker and distributor Nordex has closed a going-private transaction with Société Anonyme d’Explosifs et de Produits Chimiques (EPC).

Nordex was amalgamated with 9867244 Canada, an indirect wholly owned subsidiary of EPC, with an effective date of August 19. The company retained the corporate name Nordex Explosives.

The Nordex board has snubbed an unsolicited offer of C$0.25 a share by Johannesburg-based Omnia Holdings, saying it believed that the EPC transactions were in the best interests of the company and its shareholders.

Under the terms of the transaction, all of the former shareholders of Nordex, other than EPC and its affiliates, will receive consideration of $0.25 in cash for each Nordex common share held on the effective date of the amalgamation.

Outstanding warrants and options to buy Nordex common shares at the effective date of the amalgamation were surrendered and cancelled.

Nordex became an indirect wholly owned subsidiary of EPC.

Trading in Nordex's TSX-V-listed common shares was halted on August 18, and an application had been made to delist its common shares. An application will also be made to cease a reporting issuer under Canadian securities laws.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Comments

Showroom

Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (12/04/2024)
12th April 2024 By: Martin Creamer
Magazine round up | 12 April 2024
Magazine round up | 12 April 2024
12th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.065 0.113s - 156pq - 2rq
Subscribe Now