Post by
MasterTiger on Mar 11, 2014 10:16am
All Lawyerd up...
Paramount has proposed that the transaction proceed by way of an arrangement under the Business Corporations Act (Alberta), which requires shareholder approval and the approval of the Court of Queen's Bench of Alberta. If the transaction proceeds, it will also be subject to the requirements of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions, which requires that (i) a formal independent valuation of MGM Energy be prepared under the supervision of a committee of independent members of the MGM Energy board of directors; (ii) the valuation be disclosed to the shareholders of MGM Energy; and (iii) the transaction be approved by a majority of the minority shareholders of MGM Energy.