Rainy Day Investments Ltd. Exchanges $25M of Principal Amounts of Loans Into New First Preferred Shares of Le Chateau Inc.
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 06/12/17 -- Rainy Day Investments Ltd. (the "Acquiror") today announced that on June 9, 2017 it has exchanged approximately $25M of the principal amount of $41.2 million loans it has with Le Chateau Inc. (the "Issuer") for $25M face amount of newly created First Preferred Shares of the Issuer (the "Transaction").
Before the Transaction, the Acquiror had control and direct ownership over 6,856,377 Class B multiple voting shares of the Issuer (the "Class B Shares") representing approximately 22.9% of all of the issued and outstanding Class B Shares. Following the Transaction the Acquiror has control and direct ownership over over 6,856,377 Class B Shares representing approximately 22.9% of all of the issued and outstanding Class B Shares and 250,000 First Preferred Shares, representing 100% of all of the issued and outstanding First Preferred Shares. The aggregate presumed consideration paid for the 250,000 First Preferred Shares is $25M or $100 per First Preferred Share.
The First Preferred Shares were acquired by the Acquiror for investment purposes and not for the purpose of exercising control or direction over the Issuer.
Contacts:
Rainy Day Investments Ltd.
Lorenzo Salvaggio, Vice-President & COO
5695, Ferrier Street
Montreal, Quebec H4P 1N1
514 295-2353
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Datum: 12.06.2017 - 12:57 Uhr
Sprache: Deutsch
News-ID 547389
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contact information:
Town:
MONTREAL, QUEBEC
Kategorie:
Investment Services & Trading
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