TSX symbol: SBS
CALGARY, Nov. 17 /PRNewswire-FirstCall/ - SemBioSys Genetics Inc. ("SemBioSys") (TSX:SBS) today announced that the Court of Queen's Bench of Alberta has issued an interim order authorizing SemBioSys to hold a special meeting of the securityholders of SemBioSys, at which securityholders will be asked to approve the proposed plan of arrangement (the "Arrangement") involving the corporate reorganization with Cathedral Energy Services Income Trust ("Cathedral"), which was announced on October 30, 2009.
SemBioSys will hold a special meeting of securityholders at 8:00 a.m. (MT) on Friday, December 18, 2009 at the corporate offices of McCarthy Tetrault LLP, Suite 3300, 421 - 7th Avenue SW, Calgary, Alberta. The Court has fixed November 16, 2009 as the record date for determining the securityholders entitled to receive notice of and to vote at the SemBioSys special meeting. At such meeting, SemBioSys securityholders will be asked to approve the Arrangement between SemBioSys and Cathedral.
The management information circular of SemBioSys, as well as the related proxy forms are expected to be mailed to the shareholders of SemBioSys on or about November 20, 2009.
For the Arrangement to be implemented (a) the Arrangement must be approved at the SemBioSys special meeting by a resolution passed by at least 66 2/3 percent of the votes cast by the securityholders of SemBioSys, and (b) at the Cathedral special meeting of unitholders to be held on the same date as the SemBioSys special meeting, the Arrangement must be approved by a resolution passed by at least 66 2/3 percent of the votes cast by the unitholders of Cathedral.
The Arrangement is also subject to the satisfaction or waiver of certain conditions set forth in the arrangement agreement dated October 29, 2009, as amended between SemBioSys, Cathedral, Cathedral Energy Services Ltd., 1491265 Alberta Ltd. and 1491277 Alberta Ltd. (which can
|SOURCE SemBioSys Genetics Inc.|
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