Business
BMTC Group Inc. announces an offer to buy back up to 4,000,000 of its Class A subordinate voting shares
MONTREAL, Aug. 15 /CNW Telbec/ - BMTC Group Inc. announced that it will offer to purchase up to 4...
About this update from Bmtc Group Inc. Class A
[{"type":"text","content":"\n\n\n\nMONTREAL, Aug. 15 /CNW Telbec/ - BMTC Group Inc. announced that it will\noffer to purchase up to 4,000,000 of its Class A subordinate voting shares\n("Class A shares") at a price of $20 per share. If shareholders deposit more\nthan 4,000,000 Class A shares in response to the offer, deposited shares will\nbe taken up on a pro rata basis, disregarding fractions, according to the\nnumber of Class A shares deposited by each depositing shareholder.\n\n\nThe offer is made only for the Class A shares, listed on the Toronto\nStock Exchange, and is not made for the Class B multiple voting shares ("Class\nB shares"), which are not listed on any stock exchange. Any holder of Class B\nshares who wishes to accept the offer will be able, in accordance with the\nterms of the Class B shares, to exercise the right of conversion attached to\nsuch Class B shares and convert such shares into the Class A shares and\nthereafter deposit such Class A shares under the offer.\n\n\nA. Belanger (Detail) Ltee, a company controlled by Mr. Yves\nDes Groseillers, has agreed to maintain, as a result of purchases under the\noffer, the percentage of voting rights attaching to all Class A shares and\nClass B shares that it holds to its current level of 49.96%.\n\n\nThe offer is expected to expire at noon, Montreal time, on September 30,\n2008, unless withdrawn, extended or varied by the Company. The offer is\nsubject to various conditions typical of transactions of this nature although\nit is not conditional on any minimum number of Class A shares being deposited.\nFull particulars of the offer will be contained in an issuer bid circular that\nis expected to be mailed to shareholders on August 22, 2008.\n\n\nNeither the company nor its board of directors makes any recommendation\nto shareholders as to whether to deposit or refrain from depositing Class A\nshares under the offer. Shareholders are strongly encouraged to review the\noffer documents carefully and to consult with their financial and tax advisors\nprior to making any decision with respect to the offer.\n\n\nBMTC Group inc., which Class A Subordinate Voting Shares are listed on\nthe Toronto Stock Exchange, is an important retailer of furniture, electronic\ngoods and household appliances in the areas of Montreal, Quebec City,\nRepentigny, Ste-Therese, Laval, Longueuil, Kirkland...