Storm and Purchaser entered into a definitive agreement on
The total number of shares represented by shareholders present in person and by proxy at the Meeting was 68,393,758, representing approximately 55.81% of Storm's issued and outstanding common shares. The total number of stock options represented by optionholders present in person and by proxy at the Meeting was 7,405,100, representing approximately 80.32% of Storm's issued and outstanding stock options.
Holders of the requisite majorities of shares and options voted in favour of the special resolution to approve the Arrangement (the "Arrangement Resolution") as follows:
Resolution | # Votes For | % Votes For | # Votes Against | % Votes Against |
Arrangement Resolution(1) | 67,728,548 | 99.03% | 665,210 | 0.97% |
Arrangement Resolution(2) | 73,997,848 | 97.62% | 1,801,010 | 2.38% |
Arrangement Resolution(3) | 55,788,924 | 98.82% | 665,210 | 1.18% |
Notes: | |
(1) | More than 662/3% of votes cast by shareholders of Storm present in person or represented by proxy at the Meeting, voted in favour of the Arrangement Resolution, as required by the interim order of the Court. |
(2) | More than 662/3% of votes cast by shareholders and optionholders of Storm, voting together as a single class, present in person or represented by proxy at the Meeting, voted in favour of the Arrangement Resolution, as required by the interim order of the Court. |
(3) | More than 50% of votes cast by shareholders of Storm present in person or represented by proxy at the Meeting, excluding those shareholders whose votes are required to be excluded pursuant to Section 8.1(2) of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, voted in favour of the Arrangement Resolution, as required by the interim order of the Court. |
Additional information regarding the Transaction is provided in the management information circular of Storm dated
READER ADVISORIES
Certain information in this press release contains forward-looking information that involves risk and uncertainty. For this purpose, any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements often contain terms such as "may", "will", "should", "anticipate", "expects" and similar expressions. More particularly, and without limitation, this press release contains forward looking information relating to the ability of Storm and Purchaser to satisfy the remaining conditions to, and to complete, the Transaction; and the anticipated timing of the closing of the Transaction. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Storm assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
SOURCE
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