The Toronto Stock Exchange reports that at a special meeting of the holders of Agrinam Acquisition Corp.'s Class A restricted shares scheduled for March 12, 2024, shareholders will be asked to approve an ordinary resolution to
extend the date by which the company has to consummate a
qualifying acquisition from March 15, 2024, to Sept. 15, 2024 (the extension resolution).
In connection with the meeting, the company will provide
shareholders with the opportunity to deposit for redemption all or a
portion of their Class A restricted shares, irrespective of whether
such shareholders voted for or against, or did not vote on, the
extension resolution, provided that they deposit (and do not
subsequently validly withdraw) their Class A restricted shares for
redemption prior to the election deadline.
Upon the requisite approval of the extension resolution and subject
to applicable law, the company will be required to redeem such Class
A restricted shares so deposited for redemption at the Class A
extension redemption price. For illustrative purposes, the company
estimates that as of the date of the circular, the Class A extension
redemption price was between $11.11 (U.S.) and $11.26 (U.S.) per
Class A restricted share less specified costs and taxes as described
in the circular.
According to the TSX, the election to exercise the extension redemption right must be submitted before 5 p.m. Toronto time on March 5, 2024. The TSX notes that shareholders who have deposited their Class A restricted shares for
redemption may by written notice (to the company or the applicable
CDS participant, as applicable) withdraw all
or a portion of such Class A restricted shares at any time before 5
p.m. Toronto time on March 11, 2024, or the deadline of the
applicable CDS participant. Previously deposited Class A restricted
shares in respect of which the withdrawal rights have been
exercised will be returned to the shareholder (or redeposited with
CDS, as applicable) and the rights of such shareholder will continue
in accordance with the provisions of the company's constating
documents.
Subject to limited exceptions that may exist, Class A restricted
shares are held through the non-certificated inventory system of CDS.
Non-registered holders of Class A restricted shares should contact
their broker or other nominee to confirm their deadline and for
instructions on how to exercise the extension redemption right, if
they desire to do so. Shareholders whose Class A restricted shares
are held through an intermediary may have earlier deadlines for
depositing their Class A restricted shares pursuant to the extension
redemption right. Trades on March 4, 2024, will settle on March 5, 2024, and trades from 9:30 a.m. Toronto time to 12 p.m. Toronto time on March 5, 2024, will settle on March 5, 2024.
For more information, see the management information circular dated Feb. 12, 2024, available on SEDAR+.
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