An anonymous director reports
CINEPLEX SHAREHOLDERS APPROVE TRANSACTION WITH CINEWORLD
At the special meeting of Cineplex Inc. shareholders, held earlier today, Cineplex shareholders approved the previously announced plan of arrangement pursuant to which an indirect wholly owned subsidiary of Cineworld Group PLC has agreed to acquire all of the issued and outstanding common shares of Cineplex for $34 per share in cash.
Approximately 99.92 per cent of the shares represented at the meeting in person or by proxy were voted in favour of the transaction. Details of the voting results will be filed under Cineplex's profile on SEDAR, which is available on-line at SEDAR.
Cineworld Group separately announced today that its shareholders have granted the necessary approval for the transaction, with approximately 99.59 per cent of its shares represented at a general meeting of Cineworld Group shareholders in person or by proxy having been voted in favour.
Cineplex intends to apply for a final order from the Ontario Superior Court of Justice (commercial list) to approve the transaction on Feb. 18, 2020. Closing of the transaction remains subject to the satisfaction or waiver of certain closing conditions, including receipt of the final order and the satisfaction or waiver of certain other conditions to implementing the transaction that have not yet been satisfied. Subject to the satisfaction or waiver of all of the conditions to the transaction, the transaction is expected to be completed in the first half of 2020. Following completion of the transaction, Cineplex's shares will be delisted from the Toronto Stock Exchange, and Cineplex will apply to cease to be a reporting issuer.
Cineplex shareholders who have questions regarding the transaction may contact Cineplex's proxy solicitation agent
Shorecrest Group at toll-free in North America 1-888-637-5789.
Banks and brokers and collect calls outside North America call 647-931-7454.
Its e-mail is email@example.com.
About Cineplex Inc.
Cineplex is a top-tier Canadian brand that operates in the film entertainment and content, amusement and leisure, and media sectors. In addition to being Canada's largest and most innovative film exhibitor, Cineplex also operates successful businesses in digital commerce, food service, alternative programming (Cineplex Events), cinema media (Cineplex Media), digital place-based media (Cineplex Digital Media), amusement solutions (Player One Amusement Group) and an on-line e-sports platform for competitive and passionate gamers (WorldGaming Network). Additionally, Cineplex operates location-based entertainment complexes specially designed for teens and families (Playdium), as well as Canada's favourite destination for Eats & Entertainment (The Rec Room). Cineplex is a joint venture partner in Scene, Canada's largest entertainment loyalty program.
We seek Safe Harbor.
© 2020 Canjex Publishing Ltd. All rights reserved.