Home / Knowledge / News / Apparel/Garments / Amalgamation of Antigua and 44016 Yukon
Amalgamation of Antigua and 44016 Yukon
28
Apr '10
Antigua Enterprises Inc announced the completion of the amalgamation of 44016 Yukon Inc., a wholly-owned subsidiary of Ashley NA, LLC, and Antigua Enterprises Inc. The Amalgamation was approved by the shareholders of Antigua at a special meeting held on April 23, 2010, including a majority of the minority shareholders. The amalgamated entity will continue under the name Antigua Enterprises Inc.

Following the expiry of Ashley NA, LLC's takeover bid for all of the shares of Antigua, Ashley held approximately 96% of the shares of Antigua. Pursuant to the terms set out in the takeover bid circular dated January 12, 2010, Ashley, in the event that it did not acquire all of the shares of Antigua pursuant to the takeover bid, had proposed a second stage transaction pursuant to which Ashley would acquire the remaining shares of Antigua. Consequently, it was proposed that Antigua and 44016 (a wholly-owned subsidiary of Ashley) would be amalgamated, resulting in all shareholders of Antigua, other than Ashley, having their shares of Antigua exchanged for redeemable preferred shares in the amalgamated company which would be redeemed, immediately after completion of the Amalgamation, at a price of US$0.31 per share, being the same consideration as offered and paid to the shareholders who tendered pursuant to Ashley's takeover bid.

To effect the redemption, 44016 has deposited with Computershare Investor Services Inc., as agent for the amalgamated entity, the total consideration payable for the shares to be redeemed and will pay the redemption price to Antigua shareholders (other than Ashley and its affiliates) upon deposit of the certificates representing the common shares of Antigua formerly held by them. Deposits of certificates should be effected using the Letter of Transmittal that was mailed to the registered shareholders of Antigua together with the management proxy circular of Antigua dated March 30, 2010 (the “Meeting Circular”). Shareholders of Antigua should refer to the Meeting Circular and the Letter of Transmittal for further instructions on how to surrender their Antigua share certificates and receive the redemption price under the terms of the Amalgamation.

Upon filing and acceptance of the Articles of Amalgamation, the board of directors of the amalgamated company consisted solely of Neil Morton. The former directors of Antigua will not serve as directors of the amalgamated company.

As the amalgamated company is now a wholly-owned subsidiary of Ashley, the company intends to immediately apply to the TSX Venture Exchange to delist its shares as well as apply to the relevant provincial securities commissions to cease to be a reporting issuer.

Antigua Group Inc


Must ReadView All

Textiles | On 19th Sep 2017

Karl Mayer expands service operations in Asia

Karl Mayer, a world leader in the production of warp knitting and...

Textiles | On 19th Sep 2017

Welspun bags Made in Green label by Oeko-Tex

Welspun, a leading home textiles manufacturer, has been awarded Made...

Courtesy: SGS

Textiles | On 19th Sep 2017

SGS expands testing facilities in Naucalpan, Mexico

SGS has expanded testing facilities in Naucalpan, Mexico, creating a...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search