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Comment by
petrofacon Jan 16, 2017 8:07pm
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Post# 25715267
RE:RE:RE:RE:OT- Intertain
RE:RE:RE:RE:OT- Intertain Intertain plan of arrangement with Jackpotjoy
2017-01-16 16:40 PT - Miscellaneous
The Toronto Stock Exchange reports that the Intertain Group Ltd. will complete a plan of arrangement whereby a newly incorporated, London-headquartered, U.K. company named Jackpotjoy PLC will become the parent company for Intertain, and an entity (Amalco) will result from the merger of Intertain, Intertain ExchangeCo Ltd. and Intertain Holdings Inc. According to the TSX, the business of Amalco will be substantially similar to the business of Intertain before the completion of the arrangement and Amalco will be named the Intertain Group Ltd.
The TSX reports that under the arrangement, each Intertain share will be exchanged for one ordinary share of Jackpotjoy or one exchangeable share of Amalco, the latter being exchangeable into Jackpotjoy shares on a 1:1 basis at the option of the holder of exchangeable shares. The TSX has conditionally approved the listing and posting for trading of the exchangeable shares upon the arrangement becoming effective, at which time the Intertain shares will be delisted.
According to the TSX, each Intertain shareholder may elect for:
- Jackpotjoy shares (available to all Intertain shareholders);
- Exchangeable shares (available only to Intertain shareholders who are eligible Canadian residents);
- Or a combination of Jackpotjoy shares and exchangeable shares (available only to Intertain shareholders who are eligible Canadian residents).
The election deadline is 5 p.m. (Toronto time) on Jan. 20, 2017. Intertain shareholders who do not validly complete and return a letter of transmittal and election form by the election deadline will be deemed to have elected to receive Jackpotjoy shares. All trades on Jan. 18, 2017, will settle on Jan. 19, 2017, and trades on Jan. 19, 2017, will settle on Jan. 20, 2017. Trades from 9:30 a.m. (Toronto time) to 12 p.m. (Toronto time) on Jan. 20, 2017, will settle for cash on the same day.
For more information, see Intertain's management information circular dated Aug. 19, 2016, available on SEDAR.