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TLF Telford Service S Grp.

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Share Name Share Symbol Market Type
Telford Service S Grp. TSXV:TLF TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Telford Services Group, Inc.: News Release

12/06/2009 12:00pm

Marketwired Canada


NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES.


Telford Services Group, Inc. ("Telford") (TSX VENTURE:TLF) announces that it has
entered into a pre-acquisition agreement dated June 11, 2009 (the "Acquisition
Agreement") with Aviation Acquisitions Inc. ("Aviation" or the "Offeror")
whereby Aviation has agreed to make a cash offer to Telford shareholders to
acquire by way of take-over bid all of the outstanding Telford common shares at
a price of $0.10 per share (the "Offer"). If all Telford Shares (19,891,664
diluted) are tendered the purchase price would be approximately $2,188,100.
Aviation has agreed to offer continued employment to all existing Telford
employees, other than senior officers which is subject to determination after
closing.


The Offer is subject to completion of final due diligence by June 15, 2009,
following which Aviation has agreed to mail its offer as soon as reasonably
possible and in any event by June 18, 2009.


The Acquisition Agreement provides for payment of a non-completion fee of
$100,000 by Telford in the event that a financially superior offer is announced
and completed and in certain other circumstances.


The Offer will be open for acceptance for 35 days. The Offer will be subject to
the condition that at least 66 2/3% of the common shares are tendered, and other
customary conditions. The Offer has the unanimous support of the board of
directors of Telford. Principal shareholders holding 59.2% of the outstanding
common shares of Telford have agreed to tender their shares to the Offer.


If the Offer is successful, the Offeror may apply to have the Telford Shares
delisted from TSXV. The Offeror may take steps to cause Telford to cease to be a
reporting issuer under applicable Securities Laws. The effect of these steps
will be that Telford will no longer be required to publicly file or provide to
Shareholders financial information or timely disclosure in Canada regarding its
affairs.


Telford is a public company formed to provide services to businesses primarily
involved in the oilfield exploration and development activities of the oil and
gas industry. Telford is engaged in aircraft charter and cargo aircraft services
principally to oil and gas companies and operates an aircraft fueling and
maintenance facility. In addition, Telford provides a variety of services
exclusively to the oil and gas industry throughout Western Canada, including
oilfield construction, maintenance and reclamation.


Aviation Acquisitions Inc. is a new private Alberta company whose main business
is to finance and invest in projects in the aviation industry.


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1 Year Telford Service S Grp. Chart

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