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Avcorp Industries, Inc. AVPFF

Avcorp Industries Inc is a Canada based manufacturer within the aerospace industry. It designs and builds structures for aircraft manufacturers. The reportable segments of the company are The Avcorp Structures and Integration segment, which offers metallic and composite aerostructures assembly and integration; The Comtek advanced Structures segment dedicated to aircraft structural component repair services, and design and manufacture of composite aerostructures; and The Avcorp Composite Fabrication segment which offers advanced composite aerostructures fabrication. The group makes sales internationally and generates a majority of the revenue from the Europe.


OTCPK:AVPFF - Post by User

Post by AlphaBetaCapon Nov 09, 2022 2:00pm
202 Views
Post# 35085988

Avcorp Takeover by Latécoère Complete at $0.11/Share

Avcorp Takeover by Latécoère Complete at $0.11/ShareAvcorp Completes Plan of Arrangement with Latcore S.A.

https://www.newswire.ca/news-releases/avcorp-completes-plan-of-arrangement-with-latecoere-s-a--833501087.html

Here is an excerpt:

"VANCOUVER, BC, Nov. 7, 2022 /CNW/ - Avcorp Industries Inc. (TSX: AVP) (the "Company" or "Avcorp") is pleased to announce the successful completion of the previously announced plan of arrangement under the Canada Business Corporations Act (the "Arrangement") between Avcorp and Albatross Bidco Inc. (the "Purchaser"), a wholly-owned subsidiary of Latcore S.A.
 
Under the Arrangement, the Purchaser acquired all of the issued and outstanding common shares of Avcorp (each, an "Avcorp Share") for consideration of $0.11 in cash per Avcorp Share and each outstanding option to acquire Avcorp Shares (the "Avcorp Options") automatically vested and was cancelled in exchange for a cash payment from the Company equal to the amount (if any) by which $0.11 exceeds the exercise price of such Avcorp Option. As previously announced, the Arrangement was overwhelmingly approved by Avcorp shareholders and optionholders at an annual general and special meeting of Avcorp securityholders held on June 30, 2022.
 
As a result of the Arrangement, the Avcorp Shares are expected to be delisted from the Toronto Stock Exchange and Avcorp intends to submit an application to the applicable securities regulators in Canada to cease to be a reporting issuer."

 
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