Sepp’s Receives Shareholder Approval to Go Private
DELTA, BRITISH COLUMBIA–(Marketwire – Aug. 1, 2008) – The Board of Directors of Sepp’s Gourmet Foods Ltd. is pleased to announce that shareholders have approved the Company’s bid to go private. With over 97% of the shareholders voting at the meeting, the special resolutions were passed by a 98% majority.
Jim Pratt, CEO, stated: “The private company platform will make us far more competitive and will allow us to respond more effectively to changing market conditions. Ownership of the company will be solidly vested in two shareholder groups that have renewed their commitment of ongoing support and share a common vision of growth for the company in the frozen breakfast foods sector.”
Minority shareholders are expected to have the payouts for their shares prior to the end of August.
Sepp’s Gourmet Foods Ltd. is a producer and marketer of frozen breakfast foods for the retail grocery and food service sectors in North and South America, and Asia.
This release may contain forward-looking statements. Various factors could cause actual results to differ materially from those projected in forward-looking statements. Although the Company believes that the forward-looking statements contained herein are reasonable, it can give no assurance that the Company’s expectations are correct. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.
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