MARKHAM, Ontario--(BUSINESS WIRE)--Apr. 3, 2017--
Teleflex Medical Canada Inc. (“Teleflex Canada”), a wholly owned
indirect subsidiary of Teleflex Incorporated (NYSE:TFX), today announced
the completion of the acquisition of Pyng Medical Corp. (“Pyng”),
a corporation with a head office located at 210 – 13480 Crestwood Place,
Richmond, British Columbia, by way of plan of arrangement (the “Arrangement”)
under Division 5 of Part 9 of the Business Corporations Act (British
Columbia). Under the terms of the transaction, Teleflex Canada acquired
100 percent of the common shares of Pyng, whose shareholders received
US$0.30203 (CAD$0.40200, based on an exchange rate of CAD$1.3310 per
USD$1.00 as of March 31, 2017) in cash per common share. Pyng is now
wholly owned by Teleflex Canada.
Pursuant to the Arrangement, all previously outstanding stock options
and warrants were deemed exercised for that number of common shares
equal to the “in-the-money amount” of such stock options and warrants in
accordance with their terms and all previously outstanding convertible
debentures were deemed converted into common shares in accordance with
their terms.
With the completion of the acquisition, the common shares of Pyng will
be de-listed from the TSX Venture Exchange and Pyng will cease to be a
reporting issuer.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170403006616/en/
Source: Teleflex Medical Canada Inc.
Teleflex Incorporated
Jake Elguicze
Treasurer and Vice
President, Investor Relations
610-948-2836
or
Teleflex
Medical Canada Inc.
500 Hood Road, Suite 310
Markham, Ontario
L3R
9Z3