BURNABY, British Columbia, Sept. 12, 2022 (GLOBE NEWSWIRE) — INTERFOR COMPANY (“Interfor” or the “Company”) IF P announced today that it has subscribed and paid for the cancellation of 3,355,704 common shares (“Shares”) at a price of $29.80 per share (the “Purchase Price”) in its previously announced extensive issuer offering (the “Offering”) Has.
The shares purchased represent an aggregate purchase of $100 million and 6.1% of Interfor’s total number of issued and outstanding shares issued and outstanding as of July 25, 2022.
A total of 6,749,706 shares valid for the offering were tendered and not withdrawn. Since the offer was oversubscribed, approximately 98.8% of their tendered shares were acquired by Interfor from shareholders who had submitted auction offers at or below the purchase price and shareholders who had made or were deemed to have made purchase price offers (with the exception of ” odd lot “offers not subject to proportioning”).
Interfor accepted the shares offered for purchase and made payment for the shares by delivering the aggregate purchase price to Computershare Investor Services Inc., the depositary of the offering (the “Depositary”). Payment and settlement to shareholders will be made by the Depositary on or about September 15, 2022, all in accordance with the Offer and applicable law. All unpurchased Shares, including Shares not purchased by reason of proportion or Shares offered at auction at a price higher than the purchase price or offered void, will be returned to Shareholders as soon as practicable.
To assist shareholders in determining the tax consequences of the Offer, Interfor estimates for the purposes of the Income Tax Act (Canada) (the “Tax Act”)that paid-up capital per share as of September 8, 2022 was $7.85 tax law and all applicable provincial and territorial taxes…
