Metro Vancouver Properties Corp. announces completion of going private transaction

VANCOUVER, British Columbia, July 03, 2024 (GLOBE NEWSWIRE) -- Metro Vancouver Properties Corp. ("Metro Vancouver"), a Vancouver-based real estate company announces that it has completed its previously announced going private transaction (the "Transaction") by way of a share consolidation.

Under the share consolidation, all Class B Shares have been consolidated on the basis of one post-consolidation Class B Share for each 1,941,489 pre-consolidation Class B Shares, without any entitlement to receive fractional shares (including any beneficial shareholder). In lieu of receiving a fractional share, minority shareholders are being paid cash consideration of $0.36 per pre-consolidation Class B share (with no amount payable to registered shareholders who would be entitled to receive, net of withholding taxes, less than $5).

Metro Vancouver encourages registered Class B Shareholders to tender their shares of Metro Vancouver, along with a completed letter of transmittal, to Computershare Investor Services Inc. The form of letter of transmittal was included with the information circular and other meeting materials mailed to shareholders in connection with the special meeting.

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