Press release from Marketwire
Tuckamore Completes Sale of Interest in Brompton Corp.
Friday, September 09, 2011
Tuckamore Completes Sale of Interest in Brompton Corp.17:51 EDT Friday, September 09, 2011TORONTO, ONTARIO--(Marketwire - Sept. 9, 2011) -NOT FOR DISTRIBUTION TO THE U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATESTuckamore Capital Management Inc. ("Tuckamore") (TSX:TX)(TSX:TX.DB.B)(TSX:TX.DB.C) announced today that its wholly-owned subsidiary, Newport Partners Holdings LP ("Newport"), has completed the sale of 640,000 Class A Common Shares held by it in the capital of Brompton Corp. (representing approximately 41% of the outstanding Class A Common Shares) to Brompton Group Limited ("BGL"), Eastglen Consulting Corporation and Nutowima Ltd. for an aggregate purchase price of $17.4 million. In accordance with the terms of the purchase agreements, the purchase price will be paid on or before October 12, 2011. As a result of the transactions, Newport's option to require BGL to acquire such shares pursuant to the agreement with BGL announced on July 5, 2011 has expired and is of no further effect. The net proceeds from the transactions will be used by Tuckamore to reduce outstanding senior indebtedness. About Tuckamore Tuckamore (formerly Newport Inc.) is a publicly-traded company which invests in successful Canadian private businesses. Subsequent to this transaction, Tuckamore has $336 million invested in 8 businesses representing a diverse cross-section of the Canadian economy.FOR FURTHER INFORMATION PLEASE CONTACT: Keith HalbertTuckamore Capital Management Inc.Chief Financial Officer416-775 email@example.com