Effective at the close of business, Friday, Jan. 20, 2017, the common shares of Franchise Bancorp Inc. (FBI) will be delisted from the TSX Venture Exchange. The delisting of the company's shares results from a takeover bid from WTF Holdings Inc., whereby WTF has acquired and now owns approximately 99 per cent of the outstanding common shares of the company, pursuant to an offer to purchase and takeover bid circular dated Oct. 28, 2016. Under the terms of the offer, FBI shareholders will receive $2.13 in cash for each FBI share tendered to the offer. Upon completion of WTF's compulsory acquisition to acquire the common shares not deposited to the offer, WTF and its affiliates and associates will own 100 per cent of the company's common shares.
For further information, please refer to the WTF offer dated Oct. 28, 2016, the directors' circular dated Nov, 4, 2016 (both available on SEDAR), and the company's news releases dated Oct. 28, 2016, Nov. 10, 2016, Jan. 3, 2017, Jan. 6, 2017, and Jan. 16, 2017.
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