Business
Mobio Announces Results of its Annual General and Special Meeting and Provides and Update Regarding the Plan of Arrangement
(via TheNewswire) Vancouver, B.C. / TheNewswire / January 3, 2019 - Mobio Technologi...
About this update from Mobio Technologies, Inc.
[{"type":"text","content":"Mobio Announces Results of its Annual General and Special Meeting and Provides and Update Regarding the Plan of Arrangement(via TheNewswire)\n \n \nVancouver, B.C. / TheNewswire / January 3, 2019 - Mobio Technologies Inc. (TSXV: MBO) (\"Mobio\" or the \"Company\") is pleased to announce the results of its annual general and special meeting (the \"Meeting\") of the shareholders (the \"Mobio Shareholders\") of common shares, held December 31, 2018 to consider and vote on, among other things, the previously announced plan of arrangement (the \"Arrangement\").\n\n \n \nApproval of Arrangement\n\n \n \nThe shareholders approved by a special resolution the Arrangement under Division 5 of Part 9 of the B of the Business Corporations Act (British Columbia) between the Company, the shareholders of the Company and the Company's wholly-owned subsidiary Plank Ventures Ltd. (formerly 0968998 B.C. LTD.) (\"Plank\") with 99.94% of the votes cast by Mobio Shareholders present in person or represented by proxy at the Meeting voting in favour of the Arrangement which exceeds the 66.66% threshold required to approve the Arrangement.\n\n \n \nUpdate on Timing of Completion of Arrangement\n\n \n \nCompletion of the Arrangement is subject to the receipt of a final order of the Supreme Court of British Columbia, which is expected to be sought on January 8, 2019. On closing of the Arrangement, each Mobio Shareholder will continue to be a shareholder of the Company and each Mobio Shareholders as of the share distribution record date will receive one Plank common share with respect to every one Mobio common share. The share distribution record date will be announced in advance by a separate news release. Plank will become a reporting issuer in British Columbia and Alberta. \n\n \n \nDetails of the Arrangement are set out in the management information circular of the Company dated November 20, 2018 (the \"Circular\") and the news release dated December 3, 2018 regarding the correction to the Circular available under the Company's corporate profile on SEDAR (www.sedar.com).\n\n \n \nVote Results on Other Matters\n\n \n \nOther matters before the Meeting are described more fully in the Circular. Mobio Shareholders voted to fix the number of directors at three and to appoint Dale Matheson Carr-Hilton LaBonte LLP, Chartered Professional Accountants as auditor...