Acquisition of shares of Devtek Corporation
TORONTO, June 6 /CNW/ – Magellan Aerospace Corporation announced the acquisition through an indirectly wholly-owned subsidiary of an additional 135,700 Subordinate Voting Shares of Devtek Corporation, which were purchased today through the facilities of The Toronto Stock Exchange, resulting in the acquisition of an aggregate of 471,700 additional Subordinate Voting Shares and 37,100 Multiple Voting Shares after the commencement of the formal bid by Heroux Inc. for the Subordinate Voting Shares and Multiple Voting Shares of Devtek Corporation. Magellan Aerospace Corporation now holds or exercises control or direction of 1,600,900 Subordinate Voting Shares and 47,100 Multiple Voting Shares of Devtek Corporation. The present purpose of the acquisition is for investment purposes. Magellan Aerospace Corporation may acquire beneficial ownership or control or direction of additional shares of Devtek Corporation from time to time.
For further information:
John B. Dekker
Vice-President
Magellan Aerospace Corporation
(905) 677-1889