VANCOUVER, British Columbia, May 25 /PRNewswire-FirstCall/ -- Sasamat Capital Corporation ("Sasamat") (PinkSheets: SSALF) held its Annual and Special Meeting on May 22, 2007 and is pleased to announce that it received approval for the arrangement (the "Arrangement") with KHD Humboldt Wedag International Ltd. ("KHD") . The Arrangement provides for the acquisition by KHD of all of the outstanding common shares of Sasamat, not already owned by KHD, pursuant to a plan of arrangement. Upon consummation of the Arrangement, Sasamat will become a wholly-owned subsidiary of KHD.
As provided pursuant to the arrangement agreement between Sasamat and KHD whereby the Arrangement is contemplated, Sasamat and KHD have entered into an amendment agreement in respect of the equitable adjustment of the share exchange ratio. The amendment agreement provides that, subject to court approval, the share exchange ratio will be decreased to partially reflect the recent material appreciation in the market value of the KHD common shares that the shareholders of Sasamat will receive pursuant to the Arrangement. Sasamat and KHD expect to apply to the Supreme Court of British Columbia (at Vancouver) on May 29,2007 for a final order to approve the Arrangement.
For further information please contact: R. Randall (604) 408-8538
