AIR CANADA: Air Canada objects to Onex proxy so solicitation representations.

0 Comments | M2 Presswire, November, 1999

M2 PRESSWIRE-8 November 1999-AIR CANADA: Air Canada objects to Onex proxy solicitation representations (C)1994-99 M2 COMMUNICATIONS LTD RDATE:041199 MONTREAL -- Air Canada understands that Onex is soliciting proxies for the Air Canada Shareholders' Meeting on the basis that a vote for Onex is a vote to keep the process open for increased shareholder value.

Air Canada believes that this is misleading and that a vote for Onex at next week's meeting will be very damaging to Air Canada and its shareholders. The Onex Amendments to the Articles operate like an open-ended option in Onex's favour. These amendments can only be used by AirCo, Onex's vehicle, and can be used at any time. Onex is asking shareholders to take radical steps (make fundamental changes to...