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 29th Mar 2017

'Increase in demand for organic designer linen'

There has been an increase in the demand for organic designer linen....

Apparel/Garments | On 29th Mar 2017

Jo-Ann launches 'Buy Online, Pick Up in Store' service

Jo-Ann Fabric and Craft Stores, a specialty retailer of crafts and...

Courtesy: Pratibha Syntex

Textiles | On 29th Mar 2017

Pratibha Syntex wins C&A's Best Global Supplier Award

Pratibha Syntex, a leading manufacturer and exporter of knitted...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Larry L Kinn
Suominen Corporation

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Mike Hoffman
Gildan Activewear SRL

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

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search