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MTY provides an update on its combination process with Imvescor
MTY provides an update on its combination process with Imvescor Canada NewsWire ...
About this update from Mty Food Group Inc.
[{"type":"text","content":"\n\n\n\nMTY provides an update on its combination process with Imvescor\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, Feb. 21, 2018\n\n\n\nMONTREAL, Feb. 21, 2018 /CNW Telbec/ - MTY Food Group Inc. (\"MTY\" or the \"Company\") (TSX: MTY) announced today that, pursuant to the announcement made December 12, 2017 regarding its combination with Imvescor Restaurant Group (\"IRG\"), a special meeting of the shareholders of IRG was held on February 19, 2018 during which the shareholders of Imvescor who voted their shares casted a convincing 92.73% of their votes in favour of the transaction.\n\nOn February 15, 2018, MTY and IRG had also received a \"no-action\" notice from the Commissioner of Competition, which confirmed that the Commissioner does not intend to challenge the amalgamation, thus satisfying the regulatory approval condition contemplated in the combination agreement.\n\nThe closing of the transaction is expected to happen on or about March 1st, 2018. Closing of the transaction remains subject to customary conditions. Following the closing Mrs. Marie-Line Beauchamp, who is currently IRG's Chief Operating Officer Mikes/Pizza Delight, will lead the IRG team in replacement of Mr. Frank Hennessey, who will be leaving the company.\n\nOn March 1st, 2018, the board of directors of MTY will appoint Mr. Gary O'Connor as an additional director. Mr. O'Connor is a director of Imvescor and currently serves as the Chair and member of the audit and risk committee.  \n\nIt is expected that the IRG operations will be relocated from their current headquarters to MTY's offices in St-Laurent, Québec in the second half of 2018.\n\nForward Looking Information\n\nCertain information in this News Release constitutes \"forward-looking\" information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking inform...