The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

Westshore Terminals completes capital restructuring

Tuesday, July 03, 2012

Westshore Terminals completes capital restructuring13:53 EDT Tuesday, July 03, 2012VANCOUVER, July 3, 2012 /CNW/ - Westshore Terminals Investment Corporation (TSX: WTE) ("Westshore") and Westshore Terminals Holdings Ltd. ("Holdings") announced today that they have completed their capital restructuring effective July 1, 2012, by way of plan of arrangement (the "Plan").  Pursuant to the Plan, all of the issued and outstanding note receipts of Holdings were exchanged for additional common shares of Westshore (each a "Share").  Immediately following such exchange, all of the issued and outstanding Shares were consolidated such that each Shareholder now holds the same number of Shares as such Shareholder held prior to the exchange and consolidation.  The result is that instead of the formerly outstanding 74,250,016 units, Westshore now has 74,260,016 outstanding Shares without any debt component held by the public.  The Shares will trade on the TSX under the trading symbol "WTE".For further information: Nick Desmarais Secretary 604.488.5214