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Givex Corp. (TSX: GIVX) (OTCQX: GIVXF) has mailed meeting materials for a special shareholder meeting on November 1, 2024, to approve a plan of arrangement with Shift4 Payments, Inc. Under the arrangement, Shift4 will acquire all outstanding Givex shares for $1.50 per share in cash. The meeting will be held in-person at 10:00 a.m. in Toronto.
The arrangement requires approval by two-thirds of shareholder votes and a simple majority of minority shareholders. If conditions are met, the closing is expected around November 8, 2024. The Givex board unanimously recommends shareholders vote in favor of the arrangement, based on the recommendation of a special committee and fairness opinion from Canaccord Genuity Corp.
Givex Corp. (TSX: GIVX) (OTCQX: GIVXF) ha inviato materiali per la riunione a un incontro speciale degli azionisti il 1 novembre 2024, per approvare un piano di ristrutturazione con la Shift4 Payments, Inc. Nell’ambito dell’accordo, Shift4 acquisirà tutte le azioni in circolazione di Givex per 1,50 $ per azione in contante. L’incontro si terrà di persona alle 10:00 a Toronto.
L’accordo richiede l’approvazione da parte di due terzi dei voti degli azionisti e di una maggioranza semplice degli azionisti di minoranza. Se le condizioni sono soddisfatte, la chiusura è prevista intorno al 8 novembre 2024. Il consiglio di Givex raccomanda all’unanimità agli azionisti di votare a favore dell’accordo, basandosi sulla raccomandazione di un comitato speciale e sull’opinione di equità di Canaccord Genuity Corp.
Givex Corp. (TSX: GIVX) (OTCQX: GIVXF) ha enviado materiales para una reunión especial de accionistas el 1 de noviembre de 2024, para aprobar un plan de reestructuración con Shift4 Payments, Inc. Según el acuerdo, Shift4 adquirirá todas las acciones en circulación de Givex por 1.50 $ por acción en efectivo. La reunión se llevará a cabo en persona a las 10:00 a.m. en Toronto.
El acuerdo requiere la aprobación de dos tercios de los votos de los accionistas y una mayoría simple de los accionistas minoritarios. Si se cumplen las condiciones, se espera que el cierre ocurra alrededor del 8 de noviembre de 2024. El consejo de Givex recomienda unánimemente a los accionistas que voten a favor del acuerdo, basándose en la recomendación de un comité especial y la opinión de equidad de Canaccord Genuity Corp.
Givex Corp. (TSX: GIVX) (OTCQX: GIVXF)는 2024년 11월 1일에 Shift4 Payments, Inc와의 협약 계획을 승인하기 위해 특별 주주총회 자료를 발송했습니다. 이 협약에 따라 Shift4는 현금으로 주당 1.50 달러에 Givex의 모든 발행 주식을 인수할 것입니다. 회의는 토론토에서 오전 10시에 대면으로 진행됩니다.
이 협약은 주주 투표의 3분의 2와 소수 주주의 단순 다수를 승인해야 합니다. 조건이 충족되면 마감은 2024년 11월 8일경에 이루어질 것으로 예상됩니다. Givex 이사회는 특별위원회의 권고와 Canaccord Genuity Corp.의 공정성 의견을 바탕으로 주주들에게 협약에 찬성 투표를 할 것을 unanimous하게 권장합니다.
Givex Corp. (TSX: GIVX) (OTCQX: GIVXF) a envoyé les documents de réunion pour une assemblée générale extraordinaire des actionnaires le 1er novembre 2024, afin d’approuver un plan d’arrangement avec Shift4 Payments, Inc. Dans le cadre de cet arrangement, Shift4 acquerra toutes les actions en circulation de Givex pour 1,50 $ par action en espèces. La réunion se tiendra en personne à 10:00 à Toronto.
L’arrangement nécessite l’approbation des deux tiers des votes des actionnaires et d’une majorité simple des actionnaires minoritaires. Si les conditions sont remplies, la clôture est prévue aux alentours du 8 novembre 2024. Le conseil d’administration de Givex recommande à l’unanimité aux actionnaires de voter en faveur de l’arrangement, sur la base de la recommandation d’un comité spécial et de l’avis d’équité de Canaccord Genuity Corp.
Givex Corp. (TSX: GIVX) (OTCQX: GIVXF) hat die Tagungsunterlagen für eine außerordentliche Hauptversammlung der Aktionäre am 1. November 2024 versendet, um einen Umstrukturierungsplan mit Shift4 Payments, Inc zu genehmigen. Im Rahmen des Plans wird Shift4 alle ausstehenden Aktien von Givex zum Preis von 1,50 $ pro Aktie in bar erwerben. Die Versammlung findet um 10:00 Uhr in Toronto persönlich statt.
Für die Vereinbarung ist die Genehmigung von zwei Dritteln der Stimmen der Aktionäre sowie eine einfache Mehrheit der Minderheitsaktionäre erforderlich. Wenn die Bedingungen erfüllt sind, wird mit dem Abschluss um den 8. November 2024 gerechnet. Der Vorstand von Givex empfiehlt einstimmig den Aktionären, für die Vereinbarung zu stimmen, basierend auf der Empfehlung eines speziellen Ausschusses und der Fairness-Meinung von Canaccord Genuity Corp.
Positive
- Shift4 Payments, Inc. agrees to acquire all Givex shares for $1.50 per share in cash
- Board of Directors unanimously recommends shareholders vote in favor of the arrangement
- Fairness opinion provided by Canaccord Genuity Corp. supports the arrangement
Toronto, Ontario–(Newsfile Corp. – October 11, 2024) – Givex Corp. (TSX: GIVX) (OTCQX: GIVXF) (“Givex” or the “Company“) announced today that it has sent its notice of meeting, management information circular (the “Circular“), letter of transmittal and related proxy materials (collectively, the “Meeting Materials“) for the special meeting (as may be adjourned or postponed, the “Meeting“) of shareholders of Givex (“Givex Shareholders“) to approve the previously-announced plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement“) with Shift4 Payments, Inc. (“Shift4“), pursuant to which Shift4 has agreed to acquire all of the issued and outstanding shares of Givex for cash consideration of $1.50 per share, as more particularly described in the Circular.
Only Givex Shareholders of record as of September 16, 2024 are entitled to receive notice of, and to vote at, the Meeting. Such Givex Shareholders should receive the Meeting Materials shortly. The Meeting Materials are also available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
The Circular provides important information regarding the Meeting, the Arrangement and related matters. Givex Shareholders are urged to read the Circular and its schedules carefully and in their entirety.
The Meeting is scheduled to be held in-person at 10:00 a.m. (Toronto time) on Friday, November 1, 2024 at Wildeboer Dellelce Place, 365 Bay Street, Suite 800, Toronto, Ontario, M5H 2V1. In order to be effective, the special resolution approving the Arrangement must be passed by (a) at least two-thirds of the votes cast by Givex Shareholders present in person or by proxy at the Meeting, and (b) a simple majority of the votes cast by Givex Shareholders (excluding the votes cast by certain Givex Shareholders as required by Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions), present in person or by proxy at the Meeting. Following the Meeting, Givex will announce the voting results of the Meeting.
On October 1, 2024, the Ontario Superior Court of Justice (Commercial List) (the “Court“) granted an interim order (the “Interim Order“) providing for the calling and holding of the Meeting and certain other matters related to the Meeting and the Arrangement. A copy of the Interim Order is included in the Circular. Assuming that the conditions to the completion of the Arrangement are satisfied (including obtaining the requisite shareholder approval at the Meeting, the receipt of the final order of the Court approving the Arrangement and the satisfaction or waiver of other closing conditions customary in a transaction of this nature), it is expected that the closing of the Arrangement will occur on or about November 8, 2024.
Recommendation of the Board
The Arrangement was approved by the board of directors of Givex (the “Board“) upon the unanimous recommendation of the special committee of the Board (the “Special Committee“) after the Special Committee consulted with its legal and financial advisors, and based in part on the fairness opinion rendered by Canaccord Genuity Corp., as more particularly described in the Circular. The Board has unanimously determined that the Arrangement is in the best interests of Givex and is fair to Givex Shareholders. Accordingly, the Board unanimously recommends that Givex Shareholders vote in favour of the Arrangement at the Meeting.
Shareholder Assistance
Givex Shareholders who require assistance with the procedure for voting may contact Odyssey Trust Company toll free at 1-888-290-1175 (North America) or 1-587-885-0960 (outside North America), or by email at corp.actions@odysseytrust.com.
Advisors
Canaccord Genuity Corp. acted as exclusive financial advisor, and Wildeboer Dellelce LLP acted as legal counsel, to Givex. Torys LLP acted as legal counsel to the Special Committee.
Goldman Sachs & Co. LLC acted as exclusive financial advisor and Bennett Jones LLP acted as legal counsel to Shift4.
About Givex Corp.
Since 1999, Givex has provided technology solutions that unleash the full potential of engagement, creating and cultivating powerful connections that unite brands and customers. With a global footprint of 132,000+ active locations across more than 100 countries, Givex unleashes strategic insights, empowering brands through reliable technology and exceptional support. Givex’s integrated end-to-end management solution provides Gift Cards, GivexPOS, Loyalty Programs and more, creating growth opportunities for businesses of all sizes and industries. Learn more about how to streamline workflows, tackle complex challenges and transform data into actionable insights at www.Givex.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation, including relating to: the Arrangement (including the terms, timing, closing and conditions precedent thereto), the timing and receipt of the final order of the Court in respect of the Arrangement, the timing of receipt of the Meeting Materials, the timing of the Meeting, and the timing, receipt and nature of shareholder and Court approval for the Arrangement. Such forward-looking information necessarily involves known and unknown risks and uncertainties and assumptions. These risks, uncertainties and assumptions include, but are not limited to: the risk that the Arrangement will not be approved by Givex Shareholders; failure to, in a timely manner, or at all, obtain the necessary Court approval for the Arrangement and other customary risks associated with transactions of this nature (including with respect to the conditions precedent thereto). Therefore, forward-looking information should be considered carefully and undue reliance should not be placed on such information. Please note that forward-looking information in this news release reflects management’s expectations as of the date hereof, and therefore is subject to change. Givex disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. Additional information on these and other factors that could affect Givex’s operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR+ website (www.sedarplus.ca) and at Givex’s website (www.Givex.com).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226324
FAQ
When is the special shareholder meeting for Givex Corp. (GIVXF) to approve the Shift4 acquisition?
The special shareholder meeting for Givex Corp. (GIVXF) is scheduled for November 1, 2024, at 10:00 a.m. (Toronto time).
What is the cash consideration per share offered by Shift4 for Givex Corp. (GIVXF) shares?
Shift4 has agreed to acquire all outstanding Givex Corp. (GIVXF) shares for $1.50 per share in cash.
What approval is required for the Givex Corp. (GIVXF) arrangement with Shift4 to proceed?
The arrangement requires approval by two-thirds of shareholder votes and a simple majority of minority shareholders of Givex Corp. (GIVXF).
When is the expected closing date for the Givex Corp. (GIVXF) acquisition by Shift4?
If all conditions are met, the closing of the arrangement between Givex Corp. (GIVXF) and Shift4 is expected to occur around November 8, 2024.
