MONTREAL and TORONTO, April 30 /CNW Telbec/ - Montreal Exchange Inc. (MX) and TSX Group Inc. (TSX Group) today announced the results of the elections by MX shareholders with respect to the consideration they will receive pursuant to the terms of the amalgamation agreement between MX and TSX Group. The election deadline was 5:00 p.m. on April 29, 2008.
The amalgamation agreement provides that the maximum number of TSX Group common shares issuable to MX shareholders under the amalgamation is 15,346,000, and the maximum amount of cash payable to MX shareholders under the amalgamation is $428.2 million.
As a result of the elections, upon the effectiveness of the amalgamation on May 1, 2008, a total of approximately 15.32 million TSX Group shares will be issued, and $428.2 million will be paid in cash, to MX Shareholders.
For those who elected to receive cash or were deemed to have so elected, this represents an amount, for each common share of MX, of $16.26 in cash and 0.4540 of a common share of TSX Group.
Those who elected to receive shares of TSX Group will receive 0.7784 TSX Group Share for each MX common share.
The consideration to be paid to MX shareholders is expected to be distributed to them on or about May 6, 2008. No fractional TSX Group shares will be distributed.
Information about the MX and TSX Group business combination, including the management information circular relating to the amalgamation, is available on MX's website at www.m-x.ca. Investors may also obtain a copy of the management information circular on the Canadian Securities Administrators' SEDAR website at www.sedar.com and on the US Securities and Exchange Commission's website at www.sec.gov.
About Montreal Exchange Inc. (TSX - MXX)
The Montreal Exchange (MX) is the Canadian derivatives exchange. The MX offers trading in Canadian interest rate, index and equity derivatives. Clearing, settlement and risk management services are provided by an AA rated clearing house, the Canadian Derivatives Clearing Corporation, fully owned by the MX. Our integrated trading and clearing services are supported by a proprietary suite of exchange technologies, known as SOLA(R). The MX also has interests in: the Boston Options Exchange (BOX), a U.S. automated equity options market, for which MX is the technical operator; the Canadian Resources Exchange (CAREX), a new corporation created with NYMEX that is dedicated to developing the Canadian energy market; and the Montreal Climate Exchange (MCeX), a joint venture with the Chicago Climate Exchange(R), aiming to establish the leading market for publicly traded environmental products in Canada. For more information about the Montreal Exchange, please visit www.m-x.ca.
About TSX Group Inc. (TSX-X)
TSX Group operates Canada's two national stock exchanges, Toronto Stock Exchange serving the senior equity market and TSX Venture Exchange serving the public venture equity market, Natural Gas Exchange (NGX), a leading North American exchange for the trading and clearing of natural gas and electricity contracts and Shorcan Brokers Limited, the country's first fixed income inter-dealer broker. TSX Group also owns The Equicom Group Inc., a leading provider of investor relations and related corporate communication services in Canada. TSX Group is headquartered in Toronto and maintains offices in Montreal, Calgary and Vancouver.