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Sun Gro Horticulture Income Fund Unitholders and Supreme Court of British Columbia Approve Conversion to a Corporation
Sun Gro Horticulture Income Fund Unitholders and Supreme Court of British Columbia Approve Conver...
About this update from Coloured Ties Capital Inc
[{"type":"text","content":"\n\n\n\n May 31, 2010 (Canada NewsWire Group) -- TRADING SYMBOL: Toronto Stock Exchange - GRO.UN\n\n Sun Gro Horticulture Income Fund (the "Fund") is pleased to announce that at its annual and special meeting held May 27, 2010, in Vancouver, unitholders of the Fund approved the previously announced plan of arrangement (the "Arrangement") pursuant to which the Fund's income trust structure will be reorganized into a public corporation named "Sun Gro Horticulture Inc." The special resolution of unitholders was adopted by a vote of 99.91%.\nA final order of the Supreme Court of British Columbia approving the Arrangement was granted earlier today. Subject to the satisfaction or waiver of all other conditions, the Arrangement is expected to become effective on or before December 31, 2010, at which time all of the units of the Fund will be exchanged, on a one-for-one basis, for common shares of Sun Gro Horticulture Inc.\nThe Toronto Stock Exchange has conditionally approved the substitutional listing of the Sun Gro Horticulture Inc. common shares. It is expected that the common shares of Sun Gro Horticulture Inc. will commence trading on the Toronto Stock Exchange under the symbol "GRO" after the completion of the Arrangement, at which time the units of the Fund will be delisted from the Toronto Stock Exchange.\nAt the meeting, the unitholders of the Fund also approved a stock option plan for Sun Gro Horticulture Inc., the details of which are described in the Fund's Management Information Circular dated April 28, 2010.\n\nForward Looking Information\n\nThis news release contains certain forward-looking statements within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements or information. When used in this news release, the words "anticipate", "will", "believe", "estimate", "expect", "intend", "target", "plan", "goals", "objectives", "pro forma", "forecast", "schedule", "may" and other similar words and expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things: the completion o...