Héroux-Devtek announces special distribution of $5.00 per share

LONGUEUIL, QC, Nov. 9, 2012 /CNW Telbec/ - Héroux-Devtek Inc. (TSX: HRX), 
("Héroux-Devtek" or the "Corporation"), a leading Canadian manufacturer of 
aerospace products, is pleased to announce that its Board of Directors has 
authorized a special cash distribution of $5.00 per share to be paid on 
December 19, 2012 (the "Payment Date") to shareholders of record on November 
20, 2012 (the "Record Date"). 
The special distribution follows the sale by Héroux-Devtek of substantially 
all of its Aerostructure and Industrial Products operations (the "Sale 
Transaction") at the end of August 2012. The Board of Directors determined 
that the special distribution represents an appropriate use of 
Héroux-Devtek's financial resources following the completion of the Sale 
Transaction, as it provides shareholders with an adequate return on their 
investment, while allowing the Corporation to maintain a healthy financial 
position. The Board of Directors decided to retain financial resources to 
ensure adequate funding of expected capital and other investments and 
potential opportunities for future growth, including strategic acquisitions. 
It will periodically review Héroux-Devtek's cash position and capital 
requirements and evaluate alternatives available to Héroux-Devtek to enhance 
shareholder value. 
As the amount of the special distribution exceeds 25% of Héroux-Devtek's 
current stock price, the Toronto Stock Exchange will require that the shares 
trade on a "due bill" basis from the opening of trading on November 16, 2012 
to the close of trading on the Payment Date. This means that sellers of shares 
during that period (i.e. sellers in trades settled after the Record Date and 
entered into on or before the Payment Date) will also sell to the purchasers 
their entitlement to the special distribution. The shares will commence 
trading on an ex-distribution basis (i.e. without an attached "due bill" 
entitlement to the special distribution) from the opening of trading on 
December 20, 2012. 
In order to implement the special distribution, the Board of Directors has 
called a special shareholder meeting to be held on December 18, 2012 to 
consider the adoption of a special resolution to reduce the amount of the 
Corporation's issued share capital by $2.70 per share and repay such amount on 
the Payment Date to shareholders of record on the Record Date. The meeting 
will take place at 10 a.m. in the Salon Printemps of the OMNI Mont-Royal 
Hotel, 1050 Sherbrooke Street West, in the City of Montréal, Québec. The 
Board of Directors has also fixed the Record Date as the record date to 
determine shareholders entitled to receive notice and vote at the special 
shareholder meeting. 
The Board of Directors has also declared a special cash dividend, to be paid 
on the Payment Date to shareholders of record on the Record Date, in an amount 
to be equal to the difference between $5.00 per share and the per share amount 
of the capital reduction and repayment that will be approved by the 
shareholders at the meeting, if any. 
Therefore, if the capital reduction and repayment is approved at the special 
shareholder meeting, the special cash distribution of $5.00 per share ($160.0 
million based on up to 32 million common shares) will be composed of a capital 
reduction and repayment of $2.70 per share ($86.4 million) and a special cash 
dividend of $2.30 per share ($73.6 million), and a shareholder will, under 
certain circumstances, not be subject to tax on the amount of the capital 
reduction and repayment or, at the very least, be able to treat the amount of 
the capital reduction and repayment that is in excess of the shareholder's 
cost base in the shares as a capital gain. If the capital reduction is not 
approved at the meeting, the special cash distribution will consist of a 
dividend of $5.00 per share. 
Full details of the special distribution and proposed capital reduction and 
repayment, including a summary description of the principal Canadian federal 
income tax considerations applicable to shareholders in connection with the 
special distribution, will be included in the management proxy circular that 
will be mailed to shareholders on or about November 26, 2012. 
About Héroux-Devtek Inc.
Héroux-Devtek Inc. (TSX: HRX) is a Canadian company specializing in the 
design, development, manufacture and repair and overhaul of landing gear 
systems and components for the Aerospace market. The Corporation is the third 
largest landing gear company in the world, supplying both the commercial and 
military sectors of the Aerospace market with new landing gear systems and 
components, as well as aftermarket products and services. Approximately 70% of 
the Corporation's sales are outside Canada, mainly in the United States. The 
Corporation's head office is located in Longueuil, Québec with facilities in 
the Greater Montreal area (Longueuil, Laval and St-Hubert); Kitchener and 
Toronto, Ontario; as well as Springfield and Cleveland, Ohio.  
Forward-Looking Statements
Except for historical information provided herein, this press release may 
contain information and statements of a forward-looking nature concerning the 
future performance of the Company. These statements are based on suppositions 
and uncertainties as well as on management's best possible evaluation of 
future events. Such factors may include, without excluding other 
considerations, fluctuations in quarterly results, evolution in customer 
demand for the Company's products and services, the impact of price pressures 
exerted by competitors, and general market trends or economic changes. As a 
result, readers are advised that actual results may differ from expected 
results. 
From: Héroux-Devtek Inc. Gilles Labbé President and Chief Executive Officer 
Tel.: (450) 679-3330  
Contact: MaisonBrison Martin Goulet, CFA Tel.: (514) 731-0000 
SOURCE: HEROUX-DEVTEK INC. 
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CO: MAISON BRISON - ENGLISH
ST: Quebec
NI: ARO FIN DIV  
-0- Nov/09/2012 12:00 GMT
 
 
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