The board of directors of Insta-Rent will be replaced by easyhome appointees after the Insta-Rent shares are paid for.

easyhome announced that shareholders holding 89% of outstanding Insta-Rent shares have accepted easyhome's acquisition offer (see story).

easyhome has confirmed that all the conditions of the offer have been satisfied or waived and that easyhome has taken-up the shares deposited under the Offer at 5:00 p.m. (Toronto time) on September 25, 2008. Under the Offer, easyhome shall pay Cdn$0.50 per Insta-Rent share within three business days.

The board of directors of Insta-Rent will be replaced by easyhome appointees after the Insta-Rent shares are paid for.

In order to enable those shareholders who have not yet tendered their Insta-Rent shares to the Offer to do so, easyhome has extended the Offer to 9:00 a.m. (Toronto time) on October 7, 2008, unless further extended.

If easyhome is successful in acquiring 90% of the Insta-Rent shares under the Offer, easyhome intends to acquire all of the remaining Insta-Rent shares by way of a statutory compulsory acquisition pursuant to the Business Corporations Act (Ontario). In the event that easyhome does not acquire 90% of the Insta-Rent shares under the Offer, it intends to cause a meeting of Insta-Rent shareholders to be held to consider an amalgamation, by which easyhome would acquire all of the issued and outstanding Insta-Rent shares.

easyhome has 222 stores, including 207 Canadian corporate stores, 9 U.S. corporate stores, 5 Canadian franchised stores and 1 licensed Canadian store.