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Horizon North Logistics Inc. Announces Shareholders Vote Overwhelmingly to Approve Issuance of Shares to Fairfax Financial Holdings Limited Affiliate in Connection with Transaction with Dexterra and Filing of Dexterra's 2020 First Quarter Results
Horizon North Logistics Inc. Announces Shareholders Vote Overwhelmingly to Approve Issuanc...
About this update from Dexterra Group, Inc.
[{"type":"text","content":"\n\n\n\nHorizon North Logistics Inc. Announces Shareholders Vote Overwhelmingly to Approve Issuance of Shares to Fairfax Financial Holdings Limited Affiliate in Connection with Transaction with Dexterra and Filing of Dexterra's 2020 First Quarter Results\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\nCALGARY, May 26, 2020\n\n\n\nCALGARY, May 26, 2020 /CNW/ - Horizon North Logistics Inc. (\"Horizon North\" or the \"Corporation\") (TSX: HLN.TO) announces that at its special meeting held earlier today (the \"Meeting\"), holders (\"Shareholders\") of common shares of Horizon North (\"Common Shares\") showed their overwhelming support of the previously announced transaction (the \"Transaction\") with 10647802 Canada Limited, operating as Dexterra Integrated Facilities Management (\"Dexterra\"), an indirect wholly-owned subsidiary of Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) (\"Fairfax Financial\"). Pursuant to the Transaction, Horizon North will acquire all of the issued and outstanding shares of Dexterra in exchange for such number of Common Shares such that, upon completion of the Transaction, a wholly-owned subsidiary of Fairfax Financial will control 49% of Horizon North and existing Shareholders will control 51% of the combined company. \n\n \n \n \n \n \n \n\n \nA total of 90,040,420 Common Shares (approximately 54.43% of the issued and outstanding Common Shares) were represented at the Meeting in person by virtual attendance or by proxy. \nAt the Meeting, Shareholders voted in favour of the ordinary resolution (the \"Share Issuance Resolution\") to, among other things, approve the issuance of Common Shares pursuant to the Transaction and approve the waiver of, and certain amendments to, the Corporation's shareholder rights plan such that it will not apply to the Transaction. The Share Issuance Resolution was approved by 99.76% of the votes cast by Shareholders. A copy of the amending agreement in respect of the shareholder rights plan is available under Horizon North's profile on SEDAR at www.sedar.com.\nIn addition, Shareholders ...