Coopers Park Completes Going Private Transaction
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/26/15 -- Coopers Park Corporation (the "Corporation") announced today that it has completed its going private transaction previously announced on April 8, 2015.
The Corporation has filed articles of amendment effecting a consolidation of its voting common shares on the basis of one post-consolidated voting common share for each 254,084 pre-consolidated voting common shares (the "Consolidation"). The Consolidation has resulted in all of the holders of voting common shares of the Corporation (except for 0698500 B.C. Ltd.) holding a fractional interest in the post-consolidated voting common shares of the Corporation. As fractional shares will not be issued, each holder of voting common shares of the Corporation is entitled to receive $1.62071 in cash for each pre-consolidated voting common share held immediately prior to the Consolidation in lieu of certificates for fractional post-consolidated voting common shares (with no amount being paid to a holder of voting common shares who would be entitled to receive, net of withholding taxes, less than $10).
As a result of the Consolidation, 0698500 B.C. Ltd., a corporation owned by Mr. Terence Hui, the Chair of the Board and President of the Corporation, is now the sole shareholder of the Corporation, holding one voting common share and 80,141,453 non-voting common shares.
The Corporation obtained the required shareholder approvals to effect the Consolidation at its recent annual general and special meeting of shareholders held on May 14, 2015. The Corporation's voting common shares were delisted from TSX Venture Exchange at the close of trading on May 25, 2015, which serves as the "Effective Date" of the Consolidation and the record date for determining holders of voting common shares to be entitled to receive the cash amount for their fractional voting common shares.
In order for former holders of voting common shares to receive the cash amount to be paid to them for their voting common shares, the certificates representing the pre-consolidated voting common shares must be delivered to Computershare Investor Services Inc. together with a duly completed and signed Letter of Transmittal in the form delivered to holders of voting common shares with the notice of meeting and accompanying information circular dated April 8, 2015 of the Corporation. There is no settlement date or distribution date on which funds are to be distributed.
The Corporation has also applied to the applicable Canadian securities regulatory authorities for an order that the Corporation will no longer be a reporting issuer under Canadian securities laws.
About Coopers Park:
Coopers Park invests in multi-family residential condominium developments and in the information technology sector. Visit Coopers Park at:
THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO THE SHARE CONSOLIDATION AND CEASING TO BE A REPORTING ISSUER. THESE STATEMENTS INVOLVE ASSUMPTIONS, RISKS, AND UNCERTAINTIES, INCLUDING BUT NOT LIMITED TO RISK FACTORS DESCRIBED IN DOCUMENTS FILED WITH REGULATORY AUTHORITIES. ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE PROJECTED AS A RESULT OF THESE RISKS AND SHOULD NOT BE RELIED UPON AS A PREDICTION OF FUTURE EVENTS. COOPERS PARK UNDERTAKES NO OBLIGATION TO UPDATE ANY FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER THE DATE ON WHICH SUCH STATEMENT IS MADE, OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS UNLESS REQUIRED TO DO SO UNDER APPLICABLE LAW.
Contacts:
Coopers Park Corporation
Dennis Au-Yeung
Chief Financial Officer
(604) 895-8280
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Datum: 26.05.2015 - 19:52 Uhr
Sprache: Deutsch
News-ID 395849
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Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Construction
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