Dominion Lending Centres Inc. Completes Acquisition of Series 1 Preferred Shares
Overview
VANCOUVER, British Columbia, Dec. 17, 2024 (GLOBE NEWSWIRE) — Dominion Lending Centres Inc. (TSX: DLCG) (“DLCG” or the “Corporation”) has announced the completion of the acquisition of all issued and outstanding non-voting Series 1 Class B preferred shares of the Corporation. The acquisition involved a significant exchange of shares and a cash payment, marking a strategic move for the company.
Details of the Acquisition
The acquisition involved the exchange of 30,500,000 Class A common shares with a market price of $122,000,000 and a cash payment of $15,000,000. This transaction was carried out pursuant to a purchase agreement dated October 2, 2024. Prior to the acquisition, certain preliminary steps were undertaken by the shareholders and the Corporation to facilitate the process.
Following the completion of the acquisition, the Corporation made amendments to its articles of amalgamation to cancel the Class B preferred shares and the Series 1 Preferred Shares.
Impact on Stakeholders
The acquisition of the Series 1 Preferred Shares signifies a significant development for Dominion Lending Centres Inc. This strategic move is expected to strengthen the company’s position in the market and provide opportunities for growth and expansion.
How This Acquisition Will Affect You
As a stakeholder or investor in Dominion Lending Centres Inc., the completion of the acquisition of Series 1 Preferred Shares may impact your investment in the company. It is advisable to stay updated on the latest developments and financial performance of the corporation to make informed decisions.
Global Implications
The acquisition of Series 1 Preferred Shares by Dominion Lending Centres Inc. may have broader implications for the financial market and the business landscape. It could influence industry trends and set a precedent for similar transactions in the future.
Conclusion
In conclusion, the completion of the acquisition of Series 1 Preferred Shares by Dominion Lending Centres Inc. marks a significant milestone for the corporation. This strategic move is expected to have a positive impact on the company’s growth trajectory and position in the market.
