To be effective, the Arrangement Resolution required the approval of at least: (i) two-thirds (66⅔%) of the votes cast by the Shareholders (including
The Arrangement was approved by 99.99% of the votes cast by Shareholders and 99.96% of the votes cast by Minority Shareholders excluding the votes cast in respect of Shares held by the Shareholders required to be excluded pursuant MI 61-101.
About
Allied is involved in the ownership, management and development of hotels and real estate in
On behalf of the Board of Directors:
(signed)
President, Chief Financial Officer, Secretary and Director
For more information please contact:
Tel: 604-669-5335
Fax: 604-682-8131
e-mail: mikechan@alliedhotels.com
Neither the
Forward-Looking Information
This release may contain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Often, but not always, forward-looking statements can be identified by the use of words such as “will” and “expected” or variations of such words and phrases. Forward-looking statements herein include, but are not limited to, statements regarding Court granting the final order to approve the Arrangement, and the expected timing for the closing of that Arrangement. Such statements are based on management’s current expectations and assumptions. Those expectations and assumptions are currently considered reasonable by management but are inherently subject to business, market and economic risks, uncertainties, and contingencies which may cause the actual results, performance, or achievements of Allied to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements.
These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law. Risk factors include, among others: the risk that the Court will not grant the final order to approve the Arrangement, the risk that the Arrangement may not close on a timely basis, the risk that the Arrangement Agreement may be terminated, the risk that all conditions precedent to the closing of the Arrangement may not be satisfied and the risk that Allied will incur costs.
For additional information on these risks and uncertainties, see Allied’s most recently filed Annual MD&A (“MD&A”) and interim MD&A (“Interim MD&A”), which are available on SEDAR at www.sedar.com. The risk factors identified in the MD&A and Interim MD&A are not intended to represent a complete list of factors that could affect Allied. Accordingly, readers should not place undue reliance on forward-looking statements. Allied does not assume any obligation to update the forward-looking information contained in this press release, unless required by law.
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