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Air Canada Inc. T.AC

Alternate Symbol(s):  ACDVF

Air Canada is Canada's largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.


Air Canada Inc. > RE:Prix de conversion $17.47 pour une action d'Air Canada

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November 17, 2020 - 11:21 AM
151 Reads
Post# 31914290

RE:Prix de conversion $17.47 pour une action d'Air Canada

Deal or no deal...........

MONTREALNov. 14, 2020 /CNW Telbec/ - Transat A.T. Inc. ("Transat" or the "Corporation"), announces the mailing to its shareholders of its management proxy solicitation circular (the "Circular") and related proxy materials in connection with the special meeting of shareholders to be held at 10:00 a.m. on December 15, 2020 in a virtual only format at https://web.lumiagm.com/481453964, in accordance with the terms of an interim order of the Qubec Superior Court obtained on November 10, 2020. A copy of the Circular has been filed with Canadian securities regulatory authorities and may be found under the Corporation's profile on SEDAR at www.sedar.com and on Transat's website.

The purpose of the meeting is to obtain shareholder approval of the plan of arrangement with Air Canada pursuant to the arrangement agreement entered into between the Corporation and Air Canada on October 9, 2020 and announced on October 10, 2020. A copy of the arrangement agreement has been filed with Canadian securities regulatory authorities and may be found under the Corporation's profile on SEDAR at www.sedar.com.

The Circular contains important information regarding the revised arrangement agreement with Air Canada for the acquisition of all the issued and outstanding shares of Transat at a price of $5.00 per share, payable at the holder's option either in cash or shares of Air Canada (which will be issued based on a reference price of $17.47 for each Air Canada share), or a combination thereof (the "Transaction"). The Circular also explains how shareholders can vote at the meeting, the background that led to the Transaction, and the reasons that led the special committee of the board of directors as well as the board of directors to unanimously determine that the Transaction is in the best interests of Transat and its stakeholders, approve the arrangement agreement and recommend that Transat shareholders vote in favour of the Transaction.

Shareholders of record at the close of business on November 10, 2020 will be entitled to vote at the meeting in accordance with the voting rights corresponding to their shares.

In addition, shareholders wishing to receive the share consideration (i.e. 0.2862 voting shares of Air Canada for each voting share of the Corporation), must return the Letter of Transmittal and Election Form, attached to the Circular, to AST Trust Company (Canada), acting as the depositary, by 5:00 p.m. (Montral time) on or before the date that is two business days prior to the date of completion of the Transaction (the "Election Deadline").

Transat will include notice of the Election Deadline in a press release disseminated over newswire service in Canada at the latest on the business day immediately before the Election Deadline. Investors who purchase shares of the Corporation shortly before the completion of the Transaction are advised that they may not have sufficient time in order to submit a duly completed Letter of Transmittal and Election Form by the Election Deadline in respect of such shares and should consult with their broker, trust company or other intermediary and seek advice from their professional advisers in advance of any such trades.

The Corporation has retained Kingsdale Advisors to act as proxy solicitation agent and to answer information requests from shareholders with regard to shareholder approval of the plan of arrangement with Air Canada. Communications with Kingsdale Advisors may be made (i) by e-mail at contactus@kingsdaleadvisors.com or (ii) by phone at toll-free at 1-888-518-1552 or collect call outside North America at 1-416-867-2272.