Business
MTY Food Group Completes Combination with Imvescor Restaurant Group
MTY Food Group Completes Combination with Imvescor Restaurant Group Canada NewsWir...
About this update from Mty Food Group Inc.
[{"type":"text","content":"\n\n\n\nMTY Food Group Completes Combination with Imvescor Restaurant Group\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\nMONTREAL, March 1, 2018\n\n\n\nMONTREAL, March 1, 2018 /CNW Telbec/ - MTY Food Group Inc. (\"MTY\") (TSX: MTY) and Imvescor Restaurant Group Inc. (\"Imvescor\") (TSX: IRG) announced today the completion of the previously announced amalgamation (the \"Amalgamation\") under Section 181 of the Canada Business Corporations Act involving Imvescor and a direct wholly-owned subsidiary of MTY.\n\nIn connection with the Amalgamation, the now former shareholders of Imvescor (other than dissenting shareholders) will receive, in the aggregate, $4.10 in cash per common share in respect of approximately 20% of all of the former common shares of Imvescor (for an aggregate cash payment of approximately $49.9 million) and 0.0785 of a common share of MTY per common share in respect of approximately 80% of all of the former common shares of Imvescor, for a total aggregate consideration value of approximately $247 million based on the five-day volume-weighted average trading price of the common shares of MTY as of the last trading day prior to the date of this news release.\n\nLetters of transmittal have been mailed to the now former registered shareholders of Imvescor and are also available under the profile of Imvescor at www.sedar.com. The letter of transmittal explains how former registered shareholders of Imvescor can deposit and obtain the consideration for their common shares. Former registered shareholders of Imvescor must return their duly completed letters of transmittal to Computershare in order to receive the consideration to which they are entitled for their common shares. Former non-registered shareholders should carefully follow the instructions from the broker, investment dealer, bank, trust company, custodian, nominee or other intermediary that held former common shares of Imvescor on their behalf. Any questions related to the deposit of former common shares of Imvescor and the completion of the letter of transmittal should...