Power Financial Announces Receipt of Interim Order and Mailing of Management Proxy Circular in connection with Reorganization
Readers are referred to the section "Forward-Looking Statements" at the end of this release. All figures are expressed in Canadian dollars.
The Meeting is scheduled to be held at the
The Board of Directors of PFC (the "Board") has unanimously approved the Reorganization following the report and favourable recommendation of the Special Committee of the Board and unanimously recommends that minority shareholders vote FOR the special resolution approving the Reorganization.
In connection with the Meeting, PFC has commenced mailing of a management proxy circular and related meeting materials (collectively, the "Meeting Materials") to Shareholders. Shareholders should carefully review all Meeting Materials as they contain important information concerning the Reorganization and the rights and entitlements of the Shareholders. The Meeting Materials and information on how to vote online, by phone, by mail or in person are posted on Power Financial's website at https://www.powerfinancial.com/en/investors/reorganization/ and available on SEDAR under Power Financial's profile at www.sedar.com.
Shareholders requiring assistance voting their shares or having questions can contact
About Power Financial
This news release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell any securities. Shareholders are urged to read the Meeting Materials carefully and to consult with their financial, tax and legal advisors.
Certain statements in this news release, other than statements of historical fact, are forward-looking statements based on certain assumptions and reflect PFC's current expectations. Forward-looking statements are provided to present information about management's current expectations and plans relating to the future and the reader is cautioned that such statements may not be appropriate for other purposes. These statements include, without limitation, statements regarding the timing of the Meeting.
By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, many of which are beyond PFC's control, affect the operations, performance and results of PFC and its subsidiaries and businesses, and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. These factors include, but are not limited to: the impact or unanticipated impact of general economic, political and market factors in
The reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, that the required approvals for the Reorganization will be received, as well as other considerations that are believed to be appropriate in the circumstances, including that the list of factors in the previous paragraph, collectively, are not expected to have a material impact on PFC and its subsidiaries. While PFC considers these assumptions to be reasonable based on information currently available to management, they may prove to be incorrect.
Other than as specifically required by applicable Canadian law, PFC undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.
Additional information about the risks and uncertainties of PFC's business and material factors or assumptions on which information contained in forward-looking statements is based is provided in its disclosure materials, including each of its most recent Management's Discussion and Analysis and Annual Information Form, filed with the securities regulatory authorities in
Non-IFRS Financial Measures and Presentation
The Meeting Materials include references to net asset value and net asset value per share, financial measures which are not in accordance with International Financial Reporting Standards ("IFRS"). Net asset value presents the fair value of the net assets of each respective company and is used to assist in assessing value, on a per share basis. These non-IFRS financial measures do not have a standard meaning and may not be comparable to similar measures used by other entities. Refer to the "Non-IFRS Measures and Presentation" section of PFC's and PCC's most recent Management's Discussion and Analysis for the definition of non-IFRS financial measures and reconciliation with IFRS financial measures.