Press release from Marketwire
Supremex Income Fund Unitholders and Superior Court of Quebec Approve Conversion to Supremex Inc.
Monday, May 10, 2010
Supremex Income Fund Unitholders and Superior Court of Quebec Approve Conversion to Supremex Inc.16:37 EDT Monday, May 10, 2010MONTREAL, QUEBEC--(Marketwire - May 10, 2010) - Supremex Income Fund (TSX:SXP.UN) (the "Fund") is pleased to announce that at its annual and special meeting held on May 7, 2010 in LaSalle, unitholders of the Fund approved the previously announced plan of arrangement (the "Arrangement") pursuant to which the Fund will convert from an income trust structure to a public corporation named "Supremex Inc". The special resolution of unitholders was adopted by a vote of 99.56 per cent.The final order of the Superior Court of Quebec with respect to the Arrangement was obtained today. The Arrangement is expected to become effective on or about January 1, 2011, at which time unitholders will receive, for each unit held, one common share ("Common Share") of Supremex Inc.Subject to, and conditional upon the closing of the Arrangement, it is also expected that Common Shares will commence trading on the Toronto Stock Exchange under the symbol "SXP" on or about January 1, 2011, at which time the units of the Fund will be delisted from the Toronto Stock Exchange.ABOUT SUPREMEXSupremex Income Fund is Canada's largest manufacturer and marketer of a broad range of stock and custom envelopes and related products. Supremex is the only national envelope manufacturer in Canada with facilities in seven provinces and employs approximately 650 people. This nationwide presence enables it to manufacture products tailored to the specifications of major national customers such as leading Canadian corporations, national resellers and governmental entities, as well as paper merchants and process and solutions providers.FORWARD-LOOKING STATEMENTSThis press release contains "forward-looking statements" within the meaning of applicable Canadian securities laws, including (but not limited to) statements about the EBITDA projection, future performance of Supremex and similar statements concerning anticipated future results, circumstances, performance or expectations. A statement is forward-looking when it uses what Supremex knows and expects today to make a statement about the future. Forward-looking statements may include words such as anticipate, assumption, believe, could, expect, goal, guidance, intend, may, objective, outlook, plan, seek, should, strive, target and will. These statements relate to future events or future performance and reflect current assumptions, expectations and estimates of Management regarding growth, results of operations, performance, business prospects and opportunities, Canadian economic environment and ability to attract and retain customers. Such forward-looking statements reflect current assumptions, expectations and estimates of Management and are based on information currently available to Supremex as at the date of this press release. Forward-looking statements are subject to certain risks and uncertainties, and should not be read as guarantees of future performance or results and actual results may differ materially from the conclusion, forecast or projection stated in such forwardlooking statements. These risks, uncertainties and other factors include but are not limited to the following: economic cycles, availability of capital, decline in envelope consumption, increase of competition, exchange rate fluctuation, raw material increases, credits risks with respect to trade receivables, increase in funding of pension plans, postal services deficiencies, interest rates fluctuation and potential risk of litigation. Consequently, we can not guarantee that any forwardlooking statements will materialize. Readers should not place any undue reliance on such forward-looking statements. For additional information on these risks and uncertainties, see Supremex's most recently filed Annual Information Form and its 2009 Annual MD&A, which are available on SEDAR at www.sedar.com. Supremex disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.FOR FURTHER INFORMATION PLEASE CONTACT: Supremex Income Fund Stephane Lavigne, CA Vice-President and Chief Financial Officer 514-595-0555