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Cineplex Mails Management Information Circular for Special Meeting of Shareholders
Cineplex Mails Management Information Circular for Special Meeting of Shareholders ...
About this update from Cineplex Inc.
[{"type":"text","content":"\n\n\n\nCineplex Mails Management Information Circular for Special Meeting of Shareholders\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Jan. 17, 2020\n\n\n\nTORONTO, Jan. 17, 2020 /CNW/ - (TSX: CGX) – Cineplex Inc. (\"Cineplex\") today announced that it has mailed the management information circular (the \"Circular\") and related materials for the special meeting (the \"Meeting\") of Cineplex shareholders to approve the previously announced plan of arrangement under the Business Corporations Act (Ontario) (the \"Arrangement\"), pursuant to which Cineworld Group plc (\"Cineworld\") (LSE: CINE) has agreed to acquire, through an indirect wholly-owned subsidiary of Cineworld (the \"Purchaser\") all of the issued and outstanding common shares of Cineplex (the \"shares\") for $34 per share in cash (the \"Consideration\"), all as more particularly described in the Circular (the \"Transaction\") and Cineplex's news release dated December 16, 2019. \n\n \n \n\n \nThe Meeting is scheduled to be held at 4:00 p.m. (Toronto time) on February 11, 2020, at Goodmans LLP, 333 Bay Street, Suite 3400, Toronto, Ontario. Cineplex shareholders of record as of the close of business on December 31, 2019, are entitled to receive notice and vote at the Meeting. \nThe board of directors of Cineplex, after consultation with its financial and legal advisors, and based upon, among other things, the fairness opinion of its financial advisor, has unanimously determined that the Arrangement is in the best interests of Cineplex and that the Consideration to be received by Cineplex shareholders pursuant to the Arrangement is fair to Cineplex shareholders and recommends that Cineplex shareholders vote in favour of the Arrangement.\nOn January 9, 2020, the Ontario Superior Court of Justice (Commercial List) (the \"Court\") granted an interim order providing for the calling and holding of the Meeting and certain other matters related to the Meeting and the Arrangement. A copy of the interim order is included in the Circular. Additionally, on January 14, 2020, the Commiss...