PODA Announces Results of Special Meeting of Shareholders
As previously announced, the Company,
Matters Approved at the Meeting
At the Meeting, the following resolutions were passed unanimously:
- A special resolution of the Shareholders approving the sale of all or substantially all of the undertaking of the Company in accordance with the Business Corporations Act (
- A special resolution of the holders of SVS approving the variation of the special rights and restrictions with respect to participation in returns of capital and dividends attached to the SVS to facilitate the Distribution;
- A special resolution of the holders of SVS approving the reduction in the capital of the SVS to facilitate the Distribution;
- A special resolution of the holders of MVS approving the variation of the special rights and restrictions with respect to participation in returns of capital and dividends attached to the MVS to facilitate the Distribution; and
- A special resolution of the holders of MVS approving the reduction in the capital of the MVS to facilitate the Distribution.
The Asset Purchase Agreement and the Information Circular sent in connection with the Meeting are each available under the Company's profile on SEDAR at www.sedar.com.
This news release contains "forward-looking information" which may include, but is not limited to, information with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Such forward-looking information is often, but not always, identified by the use of words and phrases such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. Such forward-looking information includes, among other things, information regarding: the Company's expectations regarding its ability to complete, and the anticipated results of, the Transaction, the anticipated distribution of
Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the receipt of all necessary governmental approvals and satisfaction of other conditions to the completion of the Transaction and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward looking information involves known and unknown risks, uncertainties and other risk factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include risks that the Transaction does not close on the anticipated timeline, or at all, risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks, regulatory risks, financing, capitalization and liquidity risks, and risks relating to the potential failure to receive all requisite regulatory approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation, except as otherwise required by law, to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors change.
There can be no assurance that the Transaction will be completed as proposed or at all.
The Transaction could be modified, restructured or terminated. Investors are cautioned that, except as disclosed in the management information circular dated
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.