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ISG Capital Corporation Announces Mailing of Circular Detailing Proposed Plan of Arrangement with Firm Capital
TORONTO, Oct. 10, 2012 /CNW/ - ISG Capital Corporation (TSX-V: SUS) (" ISG ") announced t...
About this update from Firm Capital Property Trust
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Oct. 10, 2012 /CNW/ - ISG Capital Corporation (TSX-V: SUS) (\"ISG\") announced that it has mailed an information circular (\"Circular\"), form of proxy and Letter of Transmittal and Election (collectively\n the \"Meeting Materials\") related to the Annual and Special Meeting of shareholders to be held\n October 29, 2012 (the \"Meeting\"). The Meeting will be held at 10:00 am (Toronto time) at the offices\n of Goodmans LLP, 333 Bay Street, Suite 3400, Toronto, Ontario.  The\n Meeting Materials are also available at www.sedar.com.\n\n\nAt the Meeting, shareholders will be asked to consider and, if thought\n advisable, approve special resolutions with respect to, among other\n things:\n\n\nthe proposed sale of ISG's sole real estate asset, an industrial\n distribution facility located at 311 Ingersoll Road, Ingersoll, Ontario\n (the \"Ingersoll Sale\"), and\n\nan arrangement involving ISG and Firm Capital Property Trust (the \"Trust\") and the ISG shareholders under Section 192 of the Canada Business\n Corporations Act (the \"Arrangement\") that will effectively convert ISG into a new real estate investment\n trust listed on the TSX Venture Exchange (\"TSXV\") with members of the Firm Capital group of companies providing asset,\n property and executive management services.\n\n\nThe Ingersoll Sale and Arrangement were previously announced by ISG in\n press releases dated August 10, 2012 and August 30, 2012, respectively.\n\n\nAs part of the proposed Arrangement, shareholders will have the ability,\n subject to certain limits, to (i) redeem their ISG shares for cash,\n (ii) exchange them for units of the Trust or, (iii) receive a\n combination of the two.  As indicated in the Circular, ISG currently\n anticipates that the cash redemption amount will be approximately $0.17\n per share and that the ratio at which shares will be exchanged for\n Trust units will be approximately 0.035 Trust units for each share.\n\n\nProvided that all necessary shareholder approvals are received and all\n other closing conditions are satisfied or waived, ISG expects the\n Ingersoll Sale to close in the first week of November 2012 and the\n Arrangement to be completed in the fourth quarter of 2012.\n\n\nAbout ISGISG is a publicly-traded commercial real-estate company (www.isgcapital.ca).  The company is committed to
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