The Arrangement Resolution was required to be passed by a majority of not less than 662/3% of the votes cast by PFB Shareholders, either in person or by proxy, at the Meeting. A total of 4,847,667 PFB Shares (approximately 71.32% of the issued and outstanding PFB Shares) were represented at the Meeting in person or by proxy. The Arrangement Resolution was approved by 99.33% of the votes cast by PFB Shareholders, either in person or by proxy, at the Meeting.
The Corporation has also obtained a final order from the
PFB expects closing of the Arrangement to occur on or about
For details of the voting results on the Arrangement Resolution, see PFB's Report of Voting Results filed pursuant to Section 11.3 of National Instrument 51-102 – Continuous Disclosure Obligations under PFB's profile on SEDAR at www.sedar.com.
In order for registered PFB Shareholders to receive the cash consideration to which they are entitled pursuant to the Arrangement, registered PFB Shareholders are required to deposit the certificate(s) or direct registration statement advice(s) representing the PFB Shares held by them along with a validly completed and executed letter of transmittal with
Additional information regarding the Arrangement is provided in the management information circular of PFB dated
About PFB
PFB has two operating subsidiaries,
PFB is listed for trading on the
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws and is based on the expectations, estimates and projections of management of PFB as of the date of this press release, unless otherwise stated. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information. In particular, this press release contains, without limitation, forward-looking information and statements pertaining to the expected closing date of the Transaction.
With respect to the forward-looking statements contained in this press release, PFB has made assumptions, including but not limited to expectations and assumptions concerning completion of the Arrangement on the terms and on the timing contemplated by management. Although PFB believes that the expectations reflected in the forward-looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this press release, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that forward-looking statements will not occur. These risks and uncertainties include, without limitation, the failure of PFB and the Purchaser to obtain necessary approvals, or to otherwise satisfy the conditions to completion of the Transaction, in a timely manner, or at all. The forward-looking statements contained in this press release are made as of the date hereof and PFB does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Readers are cautioned that the forgoing lists of factors are not exhaustive. Additional information on these and other factors are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) and at PFB's website (https://www.pfbcorp.com/). Furthermore, the forward-looking statements contained in this press release are made as at the date of this press release and PFB does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
SOURCE
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