TORONTO, Oct. 18, 2019 /CNW/ - RFA Capital Holdings Inc. ("RFA") and Street Capital Group Inc. ("Street Capital") (TSX: SCB) announced today that RFA has completed its previously announced acquisition of Street Capital pursuant to a court-approved plan of arrangement under the Business Corporations Act (Ontario) (the "Transaction").
Pursuant to the Transaction, RFA acquired all of the issued and outstanding common shares of Street Capital ("Shares") for consideration of $0.68 per share in cash for an aggregate purchase price of approximately $83 million. Prior to the Transaction, RFA did not hold any Shares of Street Capital.
As a result of the Transaction, the Shares will be delisted from the TSX and Street Capital will apply to cease to be a reporting issuer in every province of Canada in which it is a reporting issuer.
RFA acquired Street Capital for investment purposes.
Registered Street Capital shareholders are reminded that they must properly complete, sign and return the letter of transmittal, along with their share certificate(s), to the depositary for the Transaction, Computershare Investor Services Inc., in order to receive the cash consideration they are entitled to under the Transaction. Non-registered Street Capital shareholders will receive the cash consideration they are entitled to under the Transaction through the intermediary in whose name their Shares are registered.
Any questions or requests regarding consideration under the Transaction may be directed to the depositary for the Transaction, Computershare Investor Services Inc., at 1-800-564-6253 (toll-free within North America) or 1-514-982-7512 (outside of North America) or by e-mail at email@example.com. Former non-registered holders of Street Capital Shares should contact their broker or other intermediary for details.
This news release is also being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated October 18, 2019. The early warning report in respect of the Transaction has been filed on SEDAR (www.sedar.com) under Street Capital's profile. To obtain a copy of the early warning report filed by RFA, please contact Gus Karantzoulis at 416-367-6336 or refer to SEDAR (www.sedar.com).
SOURCE Street Capital Group Inc.