Sasamat Capital Corporation Announces Court Approval of Arrangement

VANCOUVER, Canada, May 30  /PRNewswire-FirstCall/ -- Sasamat Capital Corporation ("Sasamat") (PinkSheets: SSALF) is pleased to announce that the British Columbia Supreme Court has granted a final order approving the proposed plan of arrangement (the "Arrangement") with KHD Humboldt Wedag International Ltd. ("KHD") (NASDAQ:KHDH), as amended to reflect an adjusted share exchange ratio of 0.1.  The Arrangement provides for the acquisition by KHD of all of the outstanding common shares of Sasamat, not already owned by KHD.  Upon consummation of the Arrangement, Sasamat will become a wholly-owned subsidiary of KHD.

Further to the final order, Sasamat and KHD have entered into an amendment agreement to the arrangement agreement (pursuant to which the Arrangement is contemplated), which amendment agreement alters the multiplier of the share exchange ratio set out in the arrangement agreement from 0.111 to 0.1.

Sasamat will now file articles of arrangement with the Director under the Canada Business Corporations Act, and provided that these are in order, the Director will issue a Certificate of Arrangement.  At which time:  (a) the Arrangement will be effective; (b) the common shares of Sasamat held by Sasamat shareholders will be exchanged for common shares of KHD; and (c) Sasamat will become a wholly-owned subsidiary of KHD.

For further information please contact: R. Randall [phone] 

DATASOURCE: Sasamat Capital Corporation



CONTACT:  R. Randall of Sasamat Capital Corporation, [phone]

Copyright