Coastal.com Shareholders Approve Acquisition by Essilor International+++ ............

[Chris Ryser]

(Menafn - Canada NewsWire via COMTEX)

Coastal.com Shareholders Approve Acquisition by Essilor International+++


VANCOUVER, Apr 16, 2014 (Menafn - Canada NewsWire via COMTEX) --Coastal Contacts Inc. ("Coastal.com" or "the Company") COA announced today that the Company's shareholders have approved the proposed acquisition of Coastal.com by Essilor International (Compagnie Gnrale d'Optique), S.A. ("Essilor") under which Essilor has agreed to acquire all of the issued and outstanding common shares of Coastal.com for a purchase price of CAD12.45 per share, representing a net equity value of approximately CAD430 million (the "Transaction").

At the annual general and special meeting of Coastal.com's shareholders held this morning, the Transaction was approved by approximately 100% of the votes cast by shareholders, including by approximately 100% of the votes cast by shareholders excluding the votes attached to shares owned by certain executive officers as required under applicable securities laws.

The closing of the Transaction remains subject to final court approval, approval under the Competition Act, and the satisfaction or waiver of the other customary conditions. An application for final court approval is scheduled to be heard by the British Columbia Supreme Court on April 23, 2014. Subject to court approval being obtained, receipt of Competition Act approval and the satisfaction or waiver of all remaining closing conditions, the Transaction is expected to close by the end of April 2014.

[optimensch]

"the Transaction was approved by approximately 100% of the votes cast by shareholders"

when you've just killed at the poker table, don't hang around to chat, just collect all the chips, don't look anyone in the eye, and get out of dodge as fast as you can.

I would think that 120% of shareholders would have "approved" this transaction!

Essilor is the Patsy at the poker table, and they haven't realized it yet.

[Chris Ryser]

Essilor is the Patsy at the poker table, and they haven't realized it yet.

If you look at the other thread where most of those lenses are made by Essilor and other top qulity producers at a cost you would not even dream of, they will make big money with Coastal and not even have to pay taxes, but can collect grants from the government for which you and me will pay through our taxes.