Jaguar Financial Corporation (TSX: JFC) announced it has extended the expiry date and time of its offer to acquire up to 31,620,495 of the issued common shares of Royal Laser Corp. not already owned by Jaguar to 5:00 p.m. on Friday, November 7, 2008.
Jaguar also announced that, as a result of a major decline in markets generally and in the share price of Royal Laser from a closing price of $0.72 on September 3, 2008, the date Jaguar commenced the Offer, to a closing price of $0.45 on October 7, 2008, Jaguar is varying the terms of the Offer by reducing the Offer price per common share from $0.80 to $0.63 per common share.
A Notice of Extension and Variation was filed today with Equity Transfer and Trust Company, Jaguar's transfer agent, and will be mailed to Royal Laser shareholders.
As at the close of business of the TSX yesterday, Jaguar owned 17,823,000 Royal Laser shares, representing approximately 18.02% of the total issued and outstanding Royal Laser shares. -- www.cnxmarketlink.com
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