The merger has been approved by the stockholders and board of directors of Cauldron and the board of directors of Sadlier, and will be presented to the shareholders of Sadlier for approval. Shareholders owning more than 2/3rd's of Sadlier's common stock have indicated their intent to approve the merger. Pursuant to the merger, each share of Cauldron common stock will be converted into one share of Sadlier common stock. The shareholders of Sadlier will not be diluted as a result of the merger. The merger will be effective upon the filing of certificates of merger with the States of
The merger is being effected to increase the liquidity available to the former stockholders of Cauldron by providing them with direct ownership of the common stock of Sadlier. The former stockholders of Cauldron are, after the effective time of the merger, entering into a shareholders' agreement pursuant to which certain irrevocable proxies are granted to
For additional information, contact
About Sadlier
About Cauldron
Cauldron Group Inc. is a holding company whose principal asset is the shares of common stock of Sadlier. Cauldron has no business operations.
The statements contained in this press release contain certain forward-looking statements, including statements regarding Sadlier's expectations, intentions, strategies, and beliefs regarding the future. All statements contained herein are based upon information available to Sadlier's management as of the date hereof and actual results may vary based upon future events, both within and without the control of Sadlier's management.
SOURCE