WCE Holdings Inc. ("Holdings"), parent of Winnipeg Commodity Exchange Inc. ("WCE"), WCE Clearing Corporation and Canadian Climate Exchange Inc., announced today that its Board of Directors has, in accordance with the arrangement agreement dated June 21, 2007 between Holdings, IntercontinentalExchange, Inc. ("ICE") and a subsidiary of ICE, scheduled a special meeting of shareholders to vote on the proposal to adopt the Plan of Arrangement pursuant to which Holdings would be acquired by a subsidiary of ICE for cash consideration of $62.08 per common share for an aggregate purchase price of $40 million.
The special meeting will be held at 2:00 p.m. (Central Time) on August 22, 2007 at The Commodity Exchange Tower, 360 Main Street, Winnipeg. Completion of the Plan of Arrangement is subject to approval of 66 2/3% of the votes cast by shareholders of Holdings at the special meeting to consider the arrangement, Manitoba court approval and customary closing conditions, including obtaining certain regulatory approvals. The management proxy circular for the special meeting of shareholders will be mailed to shareholders and posted on the WCE website on August 1, 2007.
Winnipeg Commodity Exchange Inc., established in 1887, has been facilitating futures contract trading since 1904. WCE is Canada's only agricultural futures and options exchange and North America's first fully electronic commodity exchange. WCE offers futures and options contracts on canola, domestic feed wheat, and western barley.
