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Legumex Walker reports results of special meeting of shareholders to approve sale of special crops division
Winnipeg, Manitoba, Canada
November 9, 2015
Legumex Walker Inc. (TSX: LWP) (“LWI” or the “Company”) today announces that a two thirds majority of shareholders have voted “FOR” the sale of substantially all of the assets of the Company’s Special Crops Division to The Scoular Company (“the Sale Transaction”), the voluntary liquidation and dissolution of the Company according to the Canada Business Corporations Act and other related matters (“the Resolutions”), all as more particularly described in the Management Information Circular (“the Circular”) of the Company, dated October 15, 2015.
The total number of shares voted by way of ballot at the Meeting by proxy or in person was 12,394,245 or 76.06% of the total issued and outstanding shares of the Company.
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Resolution
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Outcome of Vote
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Proxies Received an
Shareholders Present1
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For
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Against
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Sale of Special Crops Division
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Approved
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12,164,676
(99.56%)
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54,150
(0.44%)
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Voluntary Liquidation & Dissolution
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Approved
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10,960,476
(89.70%)
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1,258,350
(10.30%)
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Change of Registered Office
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Approved
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12,167,326
(99.58%)
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51,500
(0.42%)
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Name Change
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Approved
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12,329,512
(99.48%)
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64,733
(0.52%)
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Reduction of Stated Capital
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Approved
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12,157,326
(99.50%)
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61,500
(0.50%)
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In addition to approval by shareholders, all necessary regulatory approvals have been obtained and it is expected that the Sale Transaction will be completed by November 30, 2015, provided that all third party approvals and other closing conditions are satisfied or waived by that date.
Further information regarding the Transaction and its anticipated effects on Legumex Walker are contained in the Circular, which is available on www.sedar.com. Readers are cautioned that there is risk that the amount of working capital or payment in respect thereof pursuant to the Sale Transaction will be less than as at September 30, 2015 or otherwise less than expected, resulting in the transaction value being less than anticipated, and a risk that the amount available for distribution to shareholders will be less than expected as a result of unforeseen liabilities.
More news from: Legumex Walker Inc.
Website: http://www.legumexwalker.com/ Published: November 10, 2015 |
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