Loblaw Companies Limited and George Weston Limited announced that they have each filed disclosure materials containing additional information relating to the previously announced proposed reorganization by way of a plan of arrangement under which Loblaw will spin out its 61.6% interest in Choice Properties Real Estate Investment Trust.
Loblaw has filed the management proxy circular (the “Circular”) for its special meeting at which Loblaw shareholders will be asked to approve the proposed Arrangement. The meeting will be held at 11:00 a.m. (Toronto time) on Thursday, October 18, 2018, at the Metro Toronto Convention Centre, Meeting Room 714AB, South Building, 22 Bremner Boulevard, Toronto, Ontario, M5V 3L9. The notice of meeting and Circular has been mailed to Loblaw shareholders of record as at September 17, 2018. Loblaw shareholders are encouraged to vote as early as possible and in any event prior to 4:00 p.m.(Toronto time) on October 15, 2018.
The Board of Directors of Loblaw has unanimously determined that the Arrangement is in the best interests of Loblaw and recommends that Loblaw shareholders vote FOR the special resolution approving the Arrangement.
Loblaw shareholders who have questions regarding the meeting or require assistance with voting may contact Kingsdale Advisors by toll‐free telephone in North America at 1‐866‐228-2532, by collect call outside North America at 1-416‐867‐2272, or by email at contactus@kingsdaleadvisors.com.
GWL has also filed an information statement providing supplemental information relating to the proposed Arrangement. The information statement has been prepared for informational purposes only and GWL shareholders do not need to take any action.
The Circular and GWL information statement is available on Loblaw’s and GWL’s respective SEDAR profiles (www.sedar.com) and websites (www.loblaw.ca or www.weston.ca).
Approvals and Closing Conditions
Subject to the approval of the Arrangement by the Loblaw shareholders, the final hearing of the Ontario Superior Court of Justice (Commercial List) to approve the Arrangement is scheduled to take place on October 19, 2018, at 10:00 a.m.(Toronto time) at 330 University Avenue, Toronto, Ontario. Participation in the hearing, including who may participate and the procedure for doing so, is subject to the terms of the interim order in respect of the Arrangement, a copy of which is attached to the Circular. Copies of the notice of application for the final order are available on request by contacting Loblaw.
In addition to Loblaw shareholder and court approvals, the Arrangement is subject to customary conditions, including approval by the Toronto Stock Exchange and receipt of an advance tax ruling from the Canada Revenue Agency. Loblaw and GWL anticipate that the Arrangement will be completed in the fourth quarter of 2018.
—CNW
