05:33:55 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Constellation Software Inc
Symbol CSU
Shares Issued 21,191,530
Close 2023-02-06 C$ 2,356.39
Market Cap C$ 49,935,509,377
Recent Sedar Documents

Constellation files prospectus for Lumine spinout

2023-02-06 20:17 ET - News Release

Mr. Jamal Baksh reports

CONSTELLATION SOFTWARE INC. FILES FINAL PROSPECTUS AND DECLARES DIVIDEND IN CONNECTION WITH PROPOSED LUMINE GROUP SPIN OUT

As previously announced, on Dec. 12, 2022, Constellation Software Inc. and its subsidiary Lumine Group Inc. entered into a binding agreement and plan of merger with WideOrbit Inc. to purchase 100 per cent of the shares of WideOrbit, a United States-based media vertical market software provider. In connection with the anticipated closing of the acquisition and the subsequent public listing of the subordinate voting shares of Lumine Group, Lumine Group will be spun out of Constellation and will operate as a separate publicly traded company. WideOrbit will become a wholly owned subsidiary of Lumine Group and will operate as an autonomous business unit within the Lumine Group's portfolio of companies.

Constellation has filed and obtained a receipt for a final prospectus with the securities regulatory authorities in each of the provinces and territories of Canada in connection with the proposed spinout.

Constellation also announced today that it has resolved to pay a special dividend, pursuant to which all common shareholders of record on Feb. 16, 2023, will be entitled to receive, by way of a dividend in kind, 3.0003833 subordinate voting shares of Lumine Group for each common share of Constellation held. The payment date for the dividend is expected to be on or about Feb. 23, 2023. The common shares of Constellation will commence trading on an ex dividend basis at the opening of markets on Feb. 15, 2023.

The spinout shares have been conditionally approved for listing on the TSX Venture Exchange, subject to Lumine Group fulfilling all of the listing requirements. Trading of the spinout shares on the TSX Venture Exchange is expected to begin approximately 30 days following completion of the acquisition of WideOrbit.

About Lumine Group Inc.

Lumine Group acquires, strengthens and grows vertical market software businesses in the communications and media industry.

About WideOrbit Inc.

WideOrbit helps media companies do more business by making it easier to buy and sell advertising. WideOrbit is the system of record for more than $37-billion in advertising spend annually. Say hello to a wider world with WideOrbit, the one platform that ties everything together, from pitch to payment.

About Constellation Software Inc.

Constellation acquires, manages and builds vertical market software businesses that provide mission-critical software solutions.

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