The TSX Venture Exchange has accepted for filing Partners Value Investments LP's share capital reorganization involving a change to the structure of how the limited partnership (LP) owns its interest in Partners Value Investments Inc. (PVII) and subsequent changes to the structure of how PVII owns its interest in Partners Value Split Corp. (PV Split).

Pursuant to the reorganization, among other things, PVII amended its articles to: (a) redesignate the voting common shares held by the LP as Class A restricted voting shares, which have substantially the same terms as the common shares but are entitled to elect 50 per cent of the directors of PVII; and (b) create Class B restricted voting shares, which are not entitled to dividends, are redeemable for a nominal amount and are entitled to elect 50 per cent of the directors of PVII. A new trust, Partners Value Holding Trust, subscribed for Class B shares and is the sole owner of PVII shares of that class. As a result, the LP no longer controls PVII, but has retained 100 per cent of its economic interest in PVII.

Subsequently, a similar change has been made to the articles of PV Split. As a result of the transaction, PVII now owns 100 per cent of the Class A restricted voting shares of PV Split, which have substantially the same terms as the voting shares of PV Split but are entitled to elect 50 per cent of the directors of PV Split and a new trust, Partners Value Split Holding Trust, holds 100 per cent of the new Class B restricted voting shares of PV Split, which are not entitled to dividends, are redeemable for a nominal amount and are entitled to elect 50 per cent of the directors of PV Split. As a result, PVII no longer controls PV Split but has retained 100 per cent of its economic interest in PV Split.

For further details, please refer to the company's news release dated Nov. 1, 2024.