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KAB Distribution Inc. (formerly Kaboose Inc.) Announces Distribution of $0.65 per Share

^{Published on 2009-09-03 05:40:22 - Market Wire}
 

 TORONTO, Sept. 3 /CNW/ - KAB Distribution Inc. (TSX: KAB), formerly Kaboose Inc., today announced that a cash distribution of $0.65 per common share will be paid on September 22, 2009 to shareholders of record on September 17, 2009 as a return of capital, subject to court approval. The distribution represents the cash proceeds realized from the previously announced sale by the Company on June 1, 2009 of (i) substantially all of its North American assets to Disney Online; and (ii) its UK subsidiary, Kaboose Acquisition (UK) Company, to an affiliate of Barclays Private Equity Limited, less payments and reserves made in respect of the Company's remaining costs and liabilities. Following the completion of the distribution, the common shares of the Company will be de-listed from the TSX at the close of trading on September 22, 2009. It is expected that the Company will seek to cancel its common shares prior to the end of the 2009 calendar year. It is possible that a further distribution of less than $0.01 per common share will be paid at the completion of the liquidation process of the Company to those shareholders of record on the date of cancellation of the common shares, although any unidentified claims may affect the ability of the Company to make such further distribution. This document may contain forward-looking statements, relating to KAB Distribution Inc.'s future distributions to shareholders and the amounts of such distributions, its operations or to the environment in which it operates, which are based on KAB Distribution Inc.'s operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond KAB Distribution Inc.'s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. KAB Distribution Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 

For further information: Jonathan Pollack, Chief Financial Officer, TEL: (416) 593-3000, FAX: (416) 593-4658