11:48 AM EST - Cossette Communications Group Inc. : announces that Cosmos Capital Inc. has submitted a proposal to its board to acquire all of the issued and outstanding subordinate voting shares of Cossette Communications at a price of $4.95 per share. The company added that the shares which are to be acquired includes subordinate voting shares resulting from the conversion of all outstanding multiple voting shares, other than shares owned by the members of the Cosmos Group and their affiliates. Cosmos Capital signed a lock-up agreement with Burgundy Asset Management Ltd. with respect to an offer as contemplated under the proposal. Burgundy owns 1.85 million subordinate voting shares of Cossette, representing approximately 11.1% of Cossette's outstanding shares on a fully diluted basis. Cossette Communications Group Inc.
shares T.KOS are trading up $1.60 at $4.85.
