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News Flash
Sears Canada announces special meeting of shareholders
24 Oct '06
1 min read
Sears Canada Inc announced that a special meeting of shareholders will be held on Tuesday, November 14, 2006 in Toronto, Ontario.
At the meeting, shareholders will be asked to consider a special resolution to amend the articles of the Corporation to effect a consolidation of all of its issued and outstanding common shares.
The record date for giving notice of, and voting at, the special meeting will be the close of business on Monday, October 23, 2006.
If the consolidation becomes effective, Sears Holdings Corporation, the controlling shareholder of the Corporation, and its affiliates will own 100 percent of the common shares of the Corporation and all other shareholders (other than dissenting shareholders) will receive cash consideration of $17.94 for each common share of the Corporation held.
Since June 30, 2006, the Common Shares have traded on the Toronto Stock Exchange in the range of $18.15 to $22.50 per share. The closing price of the Common Shares on the TSX on October 20, 2006 was $22.15.
At the meeting, shareholders will be asked to consider a special resolution to amend the articles of the Corporation to effect a consolidation of all of its issued and outstanding common shares.
The record date for giving notice of, and voting at, the special meeting will be the close of business on Monday, October 23, 2006.
If the consolidation becomes effective, Sears Holdings Corporation, the controlling shareholder of the Corporation, and its affiliates will own 100 percent of the common shares of the Corporation and all other shareholders (other than dissenting shareholders) will receive cash consideration of $17.94 for each common share of the Corporation held.
Since June 30, 2006, the Common Shares have traded on the Toronto Stock Exchange in the range of $18.15 to $22.50 per share. The closing price of the Common Shares on the TSX on October 20, 2006 was $22.15.
Sears Canada Inc
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