MONTREAL, QUEBEC--(Marketwire - Mar 25, 2013) - Supremex Inc., Canada's largest provider of stock and custom-manufactured envelopes (SXP.TO), confirmed that it has received from its principal shareholder, Clarke Inc., a non-binding proposal to acquire all of the outstanding shares of Supremex that it does not already own at a price of $1.20 in cash per share. Clarke currently holds approximately 45.2% of the issued and outstanding shares of Supremex.
A Special Committee of independent directors has been established by the Board of Directors of Supremex to review the terms of Clarke's non-binding proposal and make a recommendation to the Board of Directors. The Special Committee is composed of Mathieu Gauvin (Chairman), Georges Kobrynsky and Dany Paradis. The Special Committee has retained Fasken Martineau to act as its legal counsel.
Clarke's proposal is only an expression of interest and does not constitute a binding offer to acquire shares of Supremex. There is no assurance that the proposal will result in such a binding offer being made to shareholders of Supremex or that the transaction contemplated by the proposal, or any other transaction, will be completed. The transaction would be subject to shareholder and regulatory approvals and other conditions usual for a transaction of this type.
Supremex Inc. is Canada's largest manufacturer and marketer of a broad range of stock and custom envelopes and related products. Supremex is the only national envelope manufacturer in Canada, with facilities across six provinces and employs approximately 550 people. This nationwide presence enables it to manufacture products tailored to the specifications of major national customers such as leading Canadian corporations, national resellers and governmental entities, as well as paper merchants and process and solutions providers.