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Siemens announces satisfaction of regulatory condition for RuggedCom acquisition
BURLINGTON, ON, Mar 14, 2012, 2012 (Canada NewsWire via COMTEX) --
Siemens Canada Limited ("Siemens") announced today that it has received
a "no-action" letter from the Canadian Competition Bureau in respect of
the offer (the "Offer") made on February 8, 2012 by its wholly-owned
subsidiary, to acquire all of the outstanding common shares ("Common
Shares") of RuggedCom Inc. ("RuggedCom"). With the receipt of the
no-action letter, no further regulatory approval is required as a
condition to Common Shares being acquired under the Offer.
The Board of Directors of RuggedCom has unanimously recommended that
shareholders of RuggedCom accept the Offer and tender their Common
Shares. Each Director of RuggedCom has tendered their Common Shares to
the Offer in accordance with and subject to the provisions of their
respective lock-up agreements.
The Offer is open for acceptance until 8:00 p.m. (Toronto time) on
Thursday, March 15, 2012, unless extended or withdrawn. Shareholders of RuggedCom that
wish to receive timely payment of the $33.00 cash per Common Share that
is payable for Common Shares taken up in the Offer should deposit their
Common Shares with the depositary before 8:00 p.m. (Toronto time) on
Thursday, March 15, 2012.
Computershare Investor Services Inc. is the depositary for the Offer.
Shareholders can obtain copies of the take-over bid circular and
related materials at no charge from the depositary toll-free at
1-800-564-6253 or by email at corporateactions@computershare.com. The information agent for the Offer is Georgeson Shareholder
Communications Canada Inc. Inquiries should be directed to the
information agent toll-free at 1-866-374-9877 or by email at askus@georgeson.com. Additional copies of these documents may also be obtained on request
from the information agent.
The full details of the Offer are contained in the take-over bid
circular of Siemens and the directors' circular of the RuggedCom Board
of Directors. Copies of the take-over bid circular and the directors'
circular are available online at www.ruggedcom.com and www.sedar.com.
RuggedCom shareholders are encouraged to read both documents carefully
and in their entirety.
About Siemens in Canada
For 100 years the innovative ideas from Siemens have helped make Canada
a better place. From the Atlantic to Pacific oceans, more than 4,400
employees in Canada work together to provide answers that last in the
fields of industry, energy and healthcare, as well as deliver
infrastructure solutions for cities. Since it was federally chartered
in August of 1912, Siemens has stood for technical achievements,
innovation, quality and reliability. Sales for Siemens in Canada in
fiscal 2011 (ended September 30), were $3.0 billion CAD. The company
has 61 offices and 13 manufacturing/assembly facilities across Canada.
Further information is available at www.siemens.ca
About RuggedCom Inc.
RuggedCom is a leading provider of rugged communications networking
solutions designed for mission-critical applications in harsh
environments. RuggedCom's technology solutions include Ethernet
switches, network routers, wireless devices, serial servers, media
converters, software and professional services. RuggedCom's products
are designed for use in harsh environments such as those found in
electrical power substations and "Smart Grids," intelligent
transportation systems, industrial process control and military
applications.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/March2012/14/c4313.html
SOURCE: Siemens Canada Limited
Ann Adair - VP, Communications and Strategy Tel.: (416) 567-7831
E-mail:ann.adair@siemens.com
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