High Liner confirms retraction right for non-voting equity shareholders
High Liner Foods Incorporated confirms that its shareholders have approved a special resolution to amend the terms and conditions of High Liner's non-voting equity shares to provide for a time-limited right of retraction. The special resolution also amends the terms and conditions of High Liner's common shares to permit each common share to be converted into a non-voting equity share at any time at the option of the holder after the expiry of the non-voting equity share retraction right, reports www.megafishnet.com with reference to High Liner Foods.
The special resolution has been filed with the Office of the Registrar of Joint Stock Companies (Nova Scotia), making the retraction right on the non-voting equity shares effective until April 30, 2010. Under the retraction right, each holder of High Liner's non-voting equity shares may elect to have High Liner repurchase that holder's non-voting equity shares for a retraction price of $8 per share. A form of transmittal letter and retraction notice has been mailed to registered holders of non-voting equity shares and is available on SEDAR. In order to exercise the retraction right, holders of non-voting equity shares must on or before April 30, 2010 deliver the completed transmittal letter and retraction notice, together with the certificate or certificates representing the non-voting equity shares for which the retraction is requested, to the Toronto office of CIBC Mellon Trust Company, which is High Liner's transfer agent. Shareholders who wish to exercise their retraction right and who hold their non-voting equity shares through a broker should contact their broker.
About High Liner Foods Incorporated
High Liner Foods Incorporated is a leading North American processor and marketer of prepared, value-added frozen seafood. High Liner's branded products are sold throughout the United States, Canada and Mexico under the High Liner(R), Fisher Boy(R), Mirabel(R) and Sea Cuisine(TM) labels, and are available in most grocery and club stores. The Company also sells its High Liner(R), FPI(R) and Mirabel(R) food service products to restaurants and institutions, and is a major supplier of private label seafood products to North American food retailers and food service distributors. High Liner Foods is a publicly traded Canadian company, trading under the symbols HLF and HLF.A on the Toronto Stock Exchange.