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Taiga Announces Results of Special Meeting of Shareholders
Taiga Announces Results of Special Meeting of Shareholders Canada NewsWire BURNA...
About this update from Taiga Building Products Ltd.
[{"type":"text","content":"\n\n\n\nTaiga Announces Results of Special Meeting of Shareholders\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nBURNABY, BC, Oct. 26, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\n\n\nBURNABY, BC, Oct. 26, 2017 /CNW/ - Taiga Building Products Ltd. (\"Taiga\" or the \"Company\") (TSX: TBL & TBL.NT) is pleased to announce that at the special meeting of shareholders of the Company held on October 26, 2017 (the \"Meeting\"), disinterested shareholders approved the issuance (the \"Share Issuance\") of up to 107,361,848 common shares of the Company in respect of the share option component of the previously announced exchange offer that commenced on October 2, 2017. The resolution approving the Share Issuance received the approval of a majority of shareholders at the Meeting after excluding the votes of certain \"interested parties\" as more particularly described in the Company's news release dated October 2, 2017.\n\nThe exchange offer is subject to the terms and conditions set forth in the Exchange Offer and Consent Solicitation Statement dated September 29, 2017 (the \"Exchange Offer Circular\"), which was mailed to holders (the \"Noteholders\") of the Company's outstanding 14% subordinated unsecured notes (the \"Existing Notes\"). The Company has offered to purchase any and all of its outstanding Existing Notes in exchange for:\n\n\nan equivalent principal amount of new 7% senior notes of Taiga (the \"New Notes\") due five years from the date of issuance (the \"Note Option\");\ncommon shares of Taiga at a rate of 833.33 Common Shares (the \"Share Exchange Price\") for each $1,000 principal amount of Existing Notes (the \"Share Option\"), representing an issue price of $1.20 per common share; or\nany combination of the Note Option and the Share Option as determined by the Noteholders.\n\nConditions to completing the exchange offer are more particularly described in the Exchange Offer Circular. The exchange offer is scheduled to expire at 5:00 ...