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BSM Technologies to be Acquired by Geotab for Cash Consideration of CDN $1.40 per Share
BSM Technologies to be Acquired by Geotab for Cash Consideration of CDN $1.40 per Share ...
About this update from Great Plains Metals Corp.
[{"type":"text","content":"\n\n\n\nBSM Technologies to be Acquired by Geotab for Cash Consideration of CDN $1.40 per Share\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, April 8, 2019\n\n\n\nTransaction represents a 58% premium to the 20-day volume weighted average price ending April 5, 2019 Transaction provides immediate liquidity and certainty of value to BSM shareholders Acquisition will enhance and accelerate BSM's strategic vision under Geotab's ownership Transaction has received unanimous approval by BSM's Board of Directors 23% of BSM Shareholders have entered into voting support agreements in favour of the transaction TORONTO, April 8, 2019 /CNW/ - BSM Technologies Inc. (\"BSM\" or the \"Company\") (TSX: GPS), a leading provider of Internet of Things (IoT) enabled telematics and asset management solutions, is pleased to announce that it has entered into a definitive arrangement agreement dated April 7, 2019 (the \"Arrangement Agreement\") with Geotab Inc. (\"Geotab\") and 2689285 Ontario Inc. (\"Geotab Subco\"), a wholly-owned subsidiary of Geotab, pursuant to which Geotab Subco has agreed to acquire all of the issued and outstanding common shares of BSM (the \"BSM Shares\") not already owned by Geotab, in exchange for cash consideration of CDN $1.40 per BSM Share (the \"Arrangement\"). The Arrangement will be completed by way of statutory plan of arrangement under the Business Corporations Act (Ontario).\nThe purchase price of CDN $1.40 per BSM Share represents a total equity value, on a fully-diluted basis, of approximately CDN $117.3 million. The purchase price of CDN $1.40 per BSM Share also represents a premium of approximately 41%, 58%, and 77% to the closing price, 20-day volume weighted average price, and 60-day volume weighted average price, respectively, of BSM Shares on the Toronto Stock Exchange (the \"TSX\") as of close of markets on April 5, 2019 (being the last trading day prior to the announcement of the Arrangement).\n\"This acquisition will allow BSM's technology and know-how in important verticals like government and rail to be...