Carmanah Signs Agreement to Become a Private Company

- July 5th, 2019

Carmanah Technologies Corporation (TSX:CHM) announced that it has entered an agreement with three partners to be acquired. As part of the agreement, shareholders will receive C$7.35 per share, a 7.5 percent premium to Carmanah’s share prices on it last trading day on May 7, 2019. As quoted in the press release: Mr. Meekison and Mr. …

Carmanah Technologies Corporation (TSX:CHM) announced that it has entered an agreement with three partners to be acquired. As part of the agreement, shareholders will receive C$7.35 per share, a 7.5 percent premium to Carmanah’s share prices on it last trading day on May 7, 2019.

As quoted in the press release:

Mr. Meekison and Mr. Holland are both current directors of Carmanah and, together, own or control a total of 5,709,904 Carmanah Shares, representing in aggregate approximately 32.7% of the currently issued and outstanding Carmanah Shares.

Under the Arrangement, Carmanah shareholders will receive $7.35 in cash for each Carmanah Share they own (the “Consideration”), representing a premium of 7.5% to Carmanah’s closing share price of $6.84 on May 6, 2019, the final trading day prior to the press release on May 7, 2019 disclosing the non-binding proposal to acquire all of the shares not currently controlled, directly or indirectly, by James Meekison or Terry Holland.

Click here to read the full press release.

 

Start Here:
Investing in Cleantech

   
Curious about this emerging market?
Find out what new cleantech investors need to know.
 

Get the latest Cleantech Investing stock information

Get the latest information about companies associated with Cleantech Investing Delivered directly to your inbox.

Cleantech Investing

Select None
Select All

Leave a Reply