ACE Aviation Holdings (ACE) announced the final results of its previously announced offer (the Offer) to indirectly purchase for cancellation all of its outstanding preferred shares, which Offer was launched on February 11, 2009 and expired at 5:00 p.m. (Montreal time) on March 19, 2009. Based on final reports from CIBC Mellon Trust Company, the depositary under the Offer, ACE confirmed that it has taken up and accepted for purchase and cancellation 1,000,000 preferred shares. The preferred shares were indirectly purchased by ACE for an aggregate purchase price of Cdn$20,000,000 in accordance with the terms of the Offer.
Payment to the depositary for the preferred shares taken up and purchased by ACE under the Offer will be made by March 24, 2009.
