CALGARY, April 29, 2019 /CNW/ - Solium Capital Inc. (Solium or the Company) (TSX:SUM) is pleased to announce that it has received all of the key regulatory approvals required for its plan of arrangement (the Arrangement) with Morgan Stanley. Pursuant to the Arrangement, Morgan Stanley, through a wholly-owned subsidiary, has agreed to acquire all of the outstanding common shares of Solium for CAD$19.15 per share. Obtaining these key regulatory approvals is one of the conditions to completing the Arrangement. As previously announced, the Arrangement was approved by Solium's securityholders at a special meeting held on April 15, 2019 and by the Court of Queen's Bench of Alberta.
With all of the key conditions necessary to complete the acquisition satisfied, Solium and Morgan Stanley intend to complete the acquisition on May 1, 2019. The Company has applied to de-list Solium's shares from the Toronto Stock Exchange at the close of trading on the closing date.
Solium reminds its registered shareholders to complete the letter of transmittal that was previously sent to them in order to receive the consideration payable under the Arrangement. Once completed, the letter of transmittal and all accompanying documents should be returned to TSX Trust Company in accordance with the instructions set out in the letter of transmittal. A copy of the letter of transmittal is available under the Company's issuer profile on SEDAR at www.sedar.com.
The statements in this press release regarding the completion and timing of the Arrangement constitute "forward-looking statements". Such statements are subject to certain risks, uncertainties and assumptions, including general business and economic conditions, the overall performance of the stock market and the regulatory environment. Although Solium believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because Solium can give no assurance that such expectations will prove to be correct. These forward-looking statements contained herein are made as of the date of this press release and in each, case are expressly qualified by this cautionary statement. Solium does not intend to nor does it assume any obligation to update publicly or revise any of the forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by applicable laws. Solium cautions readers not to place undue reliance on these statements.
Solium provides cloud-enabled services for global equity administration, financial reporting and compliance. From offices in the United States, Canada, the United Kingdom, Europe and Australia, our innovative SaaS technology powers share plan administration and equity transactions for more than 3,000 corporate clients with employee participants in more than 100 countries. Follow us @Solium and visit us at www.solium.com.
SOURCE Solium Capital Inc.
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