Vigil Health receives interim order from takeover by Assa Vigil Health receives interim order from takeover by Assa
2022-02-04 18:46 ET - News Release
Mr. Troy Griffiths reports
VIGIL HEALTH ANNOUNCES INTERIM ORDER FOR ACQUISITION BY ASSA ABLOY
Further to the previously announced statutory plan of arrangement involving Vigil Health Solutions Inc. and Abloy Canada Inc. (the purchaser), a subsidiary within the Assa Abloy Group, an interim order of the British Columbia Supreme Court has been obtained. The interim order provides for, among other things, the calling and the holding of a special meeting of holders of common shares in the capital of Vigil and holders of options to purchase common shares to consider and approve the arrangement. The granting of the interim order was a condition to the completion of the arrangement.
The meeting is scheduled to be held at 11 a.m. PT on March 16, 2022 at The Vancouver Island Technology Park, 2201-4464 Markham St., Victoria, B.C. The record date for the meeting is Jan. 27, 2022. The notice of special meeting and management information circular relating the meeting will be mailed to securityholders in due course. A copy of the circular will also be available under Vigil's profile on SEDAR. All securityholders are urged to read the circular once it is available.
If approved by securityholders, and subject to the final court approval and satisfaction or waiver of conditions to closing, including receipt of the final approval of the TSX Venture Exchange, the purchaser will acquire all of the common shares of Vigil at a price of 67 cents per share in cash. The total equity value of the transaction is approximately $12.55-million. The transaction is expected to close on or around April 1, 2022. The common shares will thereafter be delisted from the TSX-V.
About Assa Abloy Group
The Assa Abloy Group is the global leader in access solutions. The group operates worldwide with 48,000 employees and sales of 88 billion Swedish kronor. The group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. Assa Abloy's innovations enable safe, secure and convenient access to physical and digital places. Every day, Assa Abloy help billions of people experience a more open world.
About Vigil Health Solutions Inc.
Vigil offers a proprietary technology platform combining software and hardware to provide comprehensive solutions to the expanding seniors housing market. Vigil has established a growing presence in North America and an international reputation for being on the leading edge of system design and integration. Vigil's objective is to offer solutions for the full continuum of care. Vigil's product range includes the innovative wireless Vitality care system featuring discreet mini-pendants, a nurse call system, mobile fall and incontinence monitoring, resident check-in, and the award-winning Vigil memory care system.
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