Additionally,
'The company and I are grateful for Helena's leadership and significant accomplishments over the last two years. Together, we have simplified our company, strengthened retail operations and reinvigorated our focus on the customer. Each of our businesses is well positioned to take advantage of opportunities in their unique markets and we are optimistic about this exciting next chapter for our company. Furthermore, we are confident in our go-forward leadership team and our ability to drive HBC forward,' concluded
Privatization Transaction Details
Under the terms of the plan of arrangement to take HBC private, the company has purchased for cancellation all of its common shares, excluding shares owned by certain continuing shareholders, for cash consideration of
The company's common shares are expected to be delisted from the
Shareholders who held their common shares through a broker or intermediary may contact that broker or intermediary for instructions and assistance in receiving the consideration for such common shares. Shareholders who held their shares in certificated form are required to complete and sign a letter of transmittal and deliver it, together with their share certificates and the other required documents, to
About HBC
HBC is a diversified retailer focused on driving the performance of high-quality stores and their omni-channel platforms and unlocking the value of real estate holdings. Founded in 1670, HBC is the oldest company in
Forward-Looking Statements
Certain statements made in this news release are forward-looking statements within the meaning of applicable securities laws, including, but not limited to, expected impacts of the Arrangement and other statements that are not historical facts. Often but not always, forward-looking statements can be identified by the use of forward-looking terminology such as 'may', 'will', 'expect', 'believe', 'estimate', 'plan', 'could', 'should', 'would', 'outlook', 'forecast', 'anticipate', 'foresee', 'continue' or the negative of these terms or variations of them or similar terminology.
Although HBC believes that the forward-looking statements in this news release are based on information and assumptions that are current, reasonable and complete, these statements are by their nature subject to a number of factors that could cause actual results to differ materially from management's expectations and plans as set forth in such forward-looking statements, including factors, which are beyond HBC's control and the effects of which can be difficult to predict.
For more information on the risks, uncertainties and assumptions that could cause HBC's actual results to differ from current expectations, please refer to the 'Risk Factors' sections of HBC's Annual Information Form dated
The forward-looking statements contained in this news release describe HBC's expectations at the date of this news release and, accordingly, are subject to change after such date. Except as may be required by applicable Canadian securities laws, HBC does not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.
Required Early Warning Report Information
HBC's head office is located at Suite 500,
The continuing shareholders and their affiliates and associates have ownership and control over an aggregate of 141,293,618 common shares (100% of the issued and outstanding common shares). All Series A preferred shares have been converted into common shares in connection with the completion of the arrangement.
The continuing shareholders intend to cause the common shares to cease to be listed on the
Early warning reports will be filed by the continuing shareholders, as applicable, with applicable Canadian securities regulatory authorities. To obtain copies of the early warning reports, please contact
Investor Relations:
jennifer.bewley@hbc.com
Media:
press@hbc.com
Source:
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