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Exhibit 99(a)(5)(iv)
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PRESS RELEASE
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[GRAPHIC OMMITTED]
PERKINS PAPERS LTD. EXTENDS TENDER OFFER FOR WYANT CORPORATION
CANDIAC (QUEBEC) OCTOBER 13, 2000 -- Perkins Papers Ltd. (TSE, symbol: PKN)
announced today that Perkins Acquisition Corp., a wholly owned subsidiary of
Perkins Papers Ltd., is extending its tender offer to acquire all outstanding
shares of common stock of Wyant Corporation (NASDAQ SmallCap, symbol: WYNT)
to 12:00 midnight, New York City time, on Thursday, October 19, 2000. The
tender offer was previously scheduled to expire at 12:00 midnight, New York
City time, on Thursday, October 12, 2000.
As of the close of business on October 12, 2000, approximately 2,185,241
shares, including guaranteed deliveries, of Wyant Corporation common stock
have been validly tendered and not withdrawn pursuant to the tender offer,
representing approximately 96.2% of the 2,270,617 shares of common stock
issued and outstanding.
Perkins Acquisition Corp. is extending the offer to allow for the completion
of the study respecting the "potential accounting irregularities" disclosed
by Wyant Corporation in the press release it issued on October 2, 2000. In
response to that press release, Perkins announced in its October 3 press
release that
Perkins is currently studying the potential impact of this
information on its tender offer announced on August 30, 2000,
and commenced on September 8, 2000, for all outstanding shares
of the common stock of Wyant Corporation. Once this study is
completed, Perkins will promptly announce its effect, if any,
on the tender offer.
As a consequence of the extension of the expiration date, holders of Wyant
Corporation common stock may tender or withdraw shares until 12:00 midnight,
New York City time, on Thursday, October 19, 2000, unless the offer is further
extended.
The tender offer is being made through, and the foregoing is qualified in its
entirety by reference to, Perkins's Offer to Purchase, dated September 8,
2000, as amended on September 21 (Amendment No. 1) and September 25
(Amendment No. 2) and the related letter of transmittal. Wyant Corporation
stockholders should read such documents completely prior to making any
decision respecting the tender offer.
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Perkins Papers Ltd. is the second largest producer of tissue paper in Canada and
the seventh largest in North America. Perkins operates six mills and converting
plants, five of which are located in Quebec and one in North Carolina, with a
workforce of 950 employees. Perkins's industrial infrastructure includes eight
paper machines with a combined annual capacity of 262,000 short tonnes of tissue
paper. The Corporation also operates 38 converting units. A large share of its
production is converted into finished and semi-finished products such as
bathroom tissue, household towels, facial
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PRESS RELEASE
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tissue, napkins and hand towels. To complete its product lines, Perkins also
produces folding cartons and kraft paper bags. The Company sells its products
under its own brand names such as, Cascades(R), Satin Soft(R), Doucelle(R),
Decor(R), North River(R), Perkins(R) and Horizon(R) as well as under private
labels. Perkins trades on the Toronto Stock Exchange under the symbol PKN.
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FOR FURTHER INFORMATION:
Ms. Suzanne Blanchet Mr. Andre Belzile
President and Chief Executive Officer Vice-President and CFO
Perkins Papers Ltd. Cascades Group
(450) 444-6400 (514) 282-2600
[email protected] [email protected]
WEB SITE: www.perkins.ca
