Dynetek Industries Ltd.(DNK.TO) announced the completion of the previously announced plan of arrangement, pursuant to which Luxfer Holdings Plc has acquired, through its wholly-owned subsidiary Luxfer Canada Limited, all of the issued and outstanding common shares of Dynetek.
The Arrangement was approved by: (i) holders of Dynetek Shares by a 90.7% majority and by Dynetek Shareholders; and (ii) Dynetek Shareholders and holders of Dynetek Share purchase warrants, voting together as a single class, by a 90.7% majority on September 14, 2012 and received approval from the Alberta Court of Queen's Bench on September 14, 2012.
As per the Arrangement, Dynetek Shareholders and Dynetek Warrantholders received $0.24 cash for each Dynetek Share and Dynetek Warrant resulting in total cash consideration of $5.03 million.
It is anticipated that the Dynetek Shares will be delisted from trading on the Toronto Stock Exchange within two to three business days.
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