Plexmar Shareholders Approve Arrangement with Dia Bras; DIB Up Near 2%
Plexmar Resources Inc. (PLE.V) announced today that Plexmar shareholders have approved a statutory plan of arrangement with Dia Bras Exploration Inc. (DIB.TO), which is up nearly 2%. The arrangement was approved by the affirmative vote of approximately 85% of the votes cast by Plexmar shareholders and a related continuance resolution received the affirmative vote of approximately 91% of the votes cast. The arrangement, which is subject to final court approval at a hearing to be held at 10 a.m (Toronto time) on November 13, 2012, and other customary closing conditions, is expected to close on November 14, 2012.
Pursuant to the arrangement that was announced on September 18, 2012, Dia Bras will acquire all of the outstanding common shares of Plexmar at a price of $0.01 per common share, payable in cash and subject to adjustment, as described in the definitive arrangement agreement entered into by Plexmar and Dia Bras.
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