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Stingray Completes Acquisition of Newfoundland Capital
Stingray Completes Acquisition of Newfoundland Capital Canada NewsWire DARTMOUTH...
About this update from Stingray Group, Inc.
[{"type":"text","content":"\n\n\n\nStingray Completes Acquisition of Newfoundland Capital\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\nDARTMOUTH, NS, Oct. 26, 2018\n\n\n\nDARTMOUTH, NS, Oct. 26, 2018 /CNW/ - Newfoundland Capital Corporation Limited (\"NCC\") (TSX: NCC.A; NCC.B) today announced that Stingray Digital Group Inc. (\"Stingray\") (TSX: RAY.A; RAY.B) has acquired the shares of NCC (the \"Transaction\") effective today.\nEach shareholder of NCC is entitled to receive approximately 0.15371 Stingray subordinate voting shares (or Stingray variable subordinate voting shares, as applicable) and approximately $13.17 in cash for each share of NCC owned. No fractional shares will be issued, and Stingray will settle any fractional shares in accordance with the terms of the arrangement agreement entered into on May 2, 2018.\nA detailed description of the Transaction is set forth in the NCC management information circular dated May 23, 2018 (the \"Circular\"). Shareholders can obtain a copy of the Circular as filed with applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com.\nLetters of Transmittal were mailed to registered shareholders of NCC along with the Circular and are also available on SEDAR at www.sedar.com. The Letters of Transmittal explain how registered NCC shareholders who hold their shares in physical certificate form can deposit and obtain payment for their NCC shares. Registered NCC shareholders must return their duly completed Letters of Transmittal to AST Trust Company (Canada) in order to receive the consideration to which they are entitled for their NCC shares. Non-registered shareholders who hold shares in brokerage accounts or with other financial intermediaries should carefully follow the instructions from their broker or other financial intermediary that holds NCC shares on their behalf. \nNCC shares are expected to be delisted from trading on the Toronto Stock Exchange on or about the close of business on Monday October 29, 2018.\nAbout Stingray Digital Group Inc.Stingray Digital Group Inc. (TSX: RAY.A; RAY.B) is the world-leadi...