May 8, 2017 / 4:28 PM / 7 months ago

BRIEF-Canadream Corpo enters into arrangement agreement to be taken private by Apollo Tourism & Leisure Ltd.

May 8 (Reuters) - Canadream Corp

* Canadream corporation enters into arrangement agreement to be taken private by Apollo Tourism & Leisure Ltd.

* Appointed a special independent committee of company’s board of directors

* Special independent committee to review and evaluate arrangement

* Based on recommendation of special committee, board has unanimously approved arrangement agreement

* Consideration paid under arrangement is in cash

* Under deal terms agreement, purchaser agreed to purchase all other outstanding canadream shares for consideration of $1.85 per share

* Upon completion of arrangement, it is expected that canadream shares will be de-listed from TSX venture exchange

* Purchaser to buy canadream shares controlled by Blaine Nicholson and CEO Brian Gronberg for consideration of $1.68 per share

* Directors holding about 39% of outstanding co’s shares entered into support deals under which each agreed to vote shares in favour of arrangement Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below