ZENON Environmental Inc. announced that its securityholders approved the acquisition of the outstanding securities of the company by a wholly-owned subsidiary of General Electric Company at the Special Meeting of ZENON securityholders held Wednesday, May 3, 2006. Over 95% of the votes cast by ZENON securityholders were in favour of the Arrangement involving GE and the associated continuance of ZENON as an Alberta company. Under the terms of the Arrangement, ZENON shareholders will receive $24.00 cash for each common and non-voting Class A ZENON share.
The company will seek final court approval of the Arrangement on Friday, May 5, 2006. The Arrangement is expected to be completed on or about June 1, 2006 following receipt of all requisite regulatory approvals.
ZENON is a world leader in providing advanced membrane products and services for water purification, wastewater treatment and water reuse to municipalities and industries worldwide.
Canada’s Top 100 Employers ranked ZENON in their top 100 list for the last six years.