Siemens Announces Completion of Compulsory Acquisition of RuggedCom
Published: Apr 12, 2012
BURLINGTON, ON, April 12, 2012 /PRNewswire/ - Siemens Canada Limited ("Siemens") announced today that its wholly-owned subsidiary (the "Offeror") has acquired the 314,477 remaining common shares of RuggedCom Inc. ("RuggedCom") not already owned by the Offeror, representing approximately 2.4% of the issued and outstanding common shares of RuggedCom, pursuant to a compulsory acquisition carried out under the provisions of the Business Corporations Act (Ontario) following the Offeror's previously announced successful tender offer. As a result of the acquisition of the remaining common shares, Siemens now owns 12,869,933 common shares of RuggedCom, representing 100% of the issued and outstanding common shares.
The common shares of RuggedCom are in the process of being de-listed from the Toronto Stock Exchange and applications will be made by RuggedCom to the relevant securities commissions for RuggedCom to cease to be a reporting issuer in all applicable jurisdictions as soon as practicable following the de-listing of the common shares from the Toronto Stock Exchange.
About Siemens in Canada
For 100 years the innovative ideas from Siemens have helped make Canada a better place. From the Atlantic to Pacific oceans, more than 4,400 employees in Canada work together to provide answers that last in the fields of industry, energy and healthcare, as well as deliver infrastructure solutions for cities. Since it was federally chartered in August of 1912, Siemens has stood for technical achievements, innovation, quality and reliability. Sales for Siemens in Canada in fiscal 2011 (ended September 30), were $3.0 billion CAD. The company has 61 offices and 13 manufacturing/assembly facilities across Canada. For further information please visit www.siemens.ca.
SOURCE Siemens Canada Limited