Business
Mercer International Inc. Announces Proposed Reorganization of Legal Form
Mercer International Inc. Announces Proposed Reorganization of Legal Form.
About this update from Mercado Minerals Ltd.
[{"type":"text","content":"\n\n\n\n\nNEW YORK, July 18 /CNW/ -- Mercer International Inc.\n(Nasdaq: MERCS, TSX: MRI.U) (\"Mercer\") today announced that it has filed a\nregistration statement on Form S-4 (the \"Registration Statement\") with the\nSecurities and Exchange Commission (\"SEC\") for the purpose of changing its\nlegal form from that of a Massachusetts trust to a corporate form. Under the\nproposed reorganization, Mercer will merge with a wholly owned Delaware\nsubsidiary and immediately thereafter merge with a wholly owned Washington\nsubsidiary. Shareholders of Mercer will become the shareholders of the merged\nWashington company which will adopt the name \"Mercer International Inc.\" and\nown the assets, assume the liabilities and conduct the business now conducted\nby Mercer. Particulars of the proposed reorganization are provided in the\nproxy statement/prospectus which forms a part of the Registration Statement.\nManagement believes this reorganization will increase its flexibility by\nenabling it to gain business advantages that may not be available under its\ncurrent form as a Massachusetts trust and provide for a more conventional and\nsimplified corporate form.\nOn completion of the reorganization, the shares of beneficial interest of\nMercer will convert into shares of common stock of the merged Washington\ncompany. The number of shares a shareholder will own in the merged company\nwill be the same as the number of Mercer shares such shareholder owns\nimmediately prior to the completion of the reorganization, and a shareholder's\nrelative economic ownership in the company will remain unchanged. The shares\nof the merged Washington company will, subject to receiving all necessary\napprovals, be quoted on the NASDAQ National Market and listed on the Toronto\nStock Exchange.\nMercer will hold a special meeting of its shareholders to obtain approval\nof the proposed reorganization at a date and time to be announced. The\nreorganization cannot be completed unless, among other things, the holders of\ntwo-thirds of Mercer's outstanding shares of beneficial interest entitled to\nvote at the special meeting pass a resolution approving the same.\nThe Registration Statement is available for free at the SEC's website at\nwww.sec.gov under Mercer International Regco Inc. AS SOON AS THE REGISTRATION\nSTATEMENT AND THE RELATED PROXY STATEMENT/PROSPE...