WINNIPEG, MANITOBA -- (MARKET WIRE) -- 04/10/08 -- RW Packaging Limited ("RWP") (TSX VENTURE: RWP) announced today an update on its going private transaction. The common shares ("Shares") of RWP will be voluntarily halted from trading on the TSXV effective at the close of business on April 14, 2008 and are anticipated to be delisted from the TSXV effective at the close of business on April 16, 2008 or shortly thereafter. The consolidation of Shares approved at the special meeting of shareholders of RWP held on February 21, 2008 will be completed effective April 18, 2008 on a 69,900-for-one basis, with shareholders being entitled to a cash payment of $0.65 for each pre-consolidation Share ($45,435 for each post-consolidation Share) in lieu of fractional post-consolidation Shares. Each person who is registered as a shareholder of the Corporation immediately prior to the effective time of the Share consolidation and who is entitled to receive a cash payment in lieu of a fractional post-consolidation Share will be sent a letter of transmittal to be completed and returned to RWP, together with the certificate representing the pre-consolidation Shares held by such person. Upon receipt by RWP of a completed letter of transmittal and Share certificate, RWP will send the applicable cash payment.RW is GMP licensed and ISO 9001 registered. The Company blends and packages liquid and powder private brand consumer products for major retailers and national brand marketers across North America.
Additional information relating to the Company is available online at www.sedar.com or the Company's website at www.rwpackaging.com.
Shares Issued 5,308,107
2008-04-09 Close $0.65
The TSX Venture Exchange (TSX Venture) has not reviewed, and does not accept responsibility for, the adequacy or accuracy of this release.
Contacts:
RW Packaging Limited
Mr. Henry De Ruiter
President and CEO
Toll Free: 1-800-284-6338
Email: rwp@rwpackaging.com
Website: www.rwpackaging.com
