Ackroo Announces Voting Results From Annual and Special Meeting of Shareholders
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) has announced the successful voting results from its annual general and special meeting held on February 24, 2025. Shareholders overwhelmingly approved the special resolution for a statutory plan of arrangement that will allow Paystone Inc. to acquire all issued and outstanding Ackroo shares and assume all company assets and liabilities.
The arrangement received strong support with 99.91% of eligible votes cast in favor. A total of 83,212,289 shares were represented at the meeting, accounting for approximately 72.36% of all outstanding shares. The resolution passed both required thresholds, securing more than two-thirds (66⅔%) of total votes and majority approval from minority shareholders.
The final court hearing to approve the arrangement is scheduled for March 3, 2025. The transaction remains subject to final court and regulatory approvals, including TSX Venture Exchange approval, with completion anticipated in Q1 2025.
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) ha annunciato i risultati di voto positivi dalla sua assemblea generale annuale e straordinaria tenutasi il 24 febbraio 2025. Gli azionisti hanno approvato con grande favore la risoluzione speciale per un piano di disposizione statutario che permetterà a Paystone Inc. di acquisire tutte le azioni emesse e in circolazione di Ackroo e assumere tutti gli attivi e passivi dell'azienda.
Il piano ha ricevuto un forte sostegno con il 99,91% dei voti idonei espressi a favore. Un totale di 83.212.289 azioni sono state rappresentate all'incontro, corrispondenti a circa 72,36% di tutte le azioni in circolazione. La risoluzione ha superato entrambi i requisiti necessari, assicurando più di due terzi (66⅔%) dei voti totali e l'approvazione della maggioranza degli azionisti di minoranza.
Il giudizio finale per approvare l'accordo è programmato per il 3 marzo 2025. La transazione rimane soggetta all'approvazione finale del tribunale e alle approvazioni normative, inclusa l'approvazione della Borsa TSX Venture, con completamento previsto nel Q1 2025.
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) ha anunciado los resultados de votación exitosos de su reunión anual general y especial celebrada el 24 de febrero de 2025. Los accionistas aprobaron abrumadoramente la resolución especial para un plan de disposición estatutario que permitirá a Paystone Inc. adquirir todas las acciones emitidas y en circulación de Ackroo y asumir todos los activos y pasivos de la empresa.
El acuerdo recibió un fuerte apoyo con el 99,91% de los votos elegibles emitidos a favor. Un total de 83.212.289 acciones fueron representadas en la reunión, lo que representa aproximadamente el 72,36% de todas las acciones en circulación. La resolución superó ambos umbrales requeridos, asegurando más de dos tercios (66⅔%) de los votos totales y la aprobación mayoritaria de los accionistas minoritarios.
La audiencia final del tribunal para aprobar el acuerdo está programada para el 3 de marzo de 2025. La transacción sigue sujeta a la aprobación final del tribunal y a las aprobaciones regulatorias, incluida la aprobación de la Bolsa de Valores TSX Venture, con una finalización anticipada en Q1 2025.
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF)는 2025년 2월 24일에 열린 연례 총회 및 특별 회의에서 성공적인 투표 결과를 발표했습니다. 주주들은 Paystone Inc.가 발행된 모든 Ackroo 주식을 인수하고 회사의 모든 자산과 부채를 인수할 수 있도록 하는 법정 정리 계획에 대한 특별 결의를 압도적으로 승인했습니다.
이 정리는 유권자 투표의 99.91%가 찬성으로 집계되며 강력한 지지를 받았습니다. 총 83,212,289주가 회의에서 대표되었으며, 이는 전체 발행 주식의 약 72.36%에 해당합니다. 이 결의안은 두 개의 필수 기준을 모두 통과하여 전체 투표의 3분의 2 이상(66⅔%)과 소수 주주들로부터의 다수 승인을 확보했습니다.
정리를 승인하기 위한 최종 법원 심리는 2025년 3월 3일로 예정되어 있습니다. 이 거래는 최종 법원 및 규제 승인, 즉 TSX 벤처 거래소의 승인을 포함하여 최종 승인에 따라 달라지며, 완료는 2025년 1분기로 예상됩니다.
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) a annoncé les résultats de vote réussis de son assemblée générale annuelle et spéciale tenue le 24 février 2025. Les actionnaires ont approuvé à une large majorité la résolution spéciale pour un plan d'arrangement statutaire qui permettra à Paystone Inc. d'acquérir toutes les actions émises et en circulation d'Ackroo et d'assumer tous les actifs et passifs de l'entreprise.
L'arrangement a reçu un fort soutien avec 99,91% des votes éligibles exprimés en faveur. Un total de 83 212 289 actions ont été représentées lors de la réunion, ce qui représente environ 72,36% de toutes les actions en circulation. La résolution a dépassé les deux seuils requis, garantissant plus des deux tiers (66⅔%) des votes totaux et l'approbation de la majorité des actionnaires minoritaires.
L'audience finale au tribunal pour approuver l'arrangement est prévue pour le 3 mars 2025. La transaction reste soumise à l'approbation finale du tribunal et des régulateurs, y compris l'approbation de la Bourse TSX Venture, avec une finalisation attendue au Q1 2025.
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) hat die erfolgreichen Abstimmungsergebnisse von ihrer Jahreshauptversammlung und außerordentlichen Sitzung am 24. Februar 2025 bekannt gegeben. Die Aktionäre haben die spezielle Resolution für einen gesetzlichen Arrangementsplan überwältigend genehmigt, der es Paystone Inc. ermöglicht, alle ausgegebenen und ausstehenden Ackroo-Aktien zu erwerben und alle Vermögenswerte und Verbindlichkeiten des Unternehmens zu übernehmen.
Die Regelung erhielt starke Unterstützung, da 99,91% der wahlberechtigten Stimmen dafür abgegeben wurden. Insgesamt wurden 83.212.289 Aktien bei der Sitzung vertreten, was etwa 72,36% aller ausstehenden Aktien entspricht. Die Resolution überschritt beide erforderlichen Schwellenwerte und sicherte mehr als zwei Drittel (66⅔%) der Gesamtstimmen sowie die Mehrheit der Stimmen von Minderheitsaktionären.
Die endgültige Gerichtsanhörung zur Genehmigung der Regelung ist für den 3. März 2025 angesetzt. Die Transaktion unterliegt weiterhin der endgültigen Genehmigung durch das Gericht und den Aufsichtsbehörden, einschließlich der Genehmigung der TSX Venture Exchange, wobei der Abschluss für Q1 2025 erwartet wird.
- Overwhelming shareholder approval with 99.91% of eligible votes supporting the acquisition
- High shareholder participation with 72.36% of outstanding shares represented at the meeting
- Acquisition by Paystone expected to complete in Q1 2025
- Company will be fully acquired, ending its independent operations
Shareholders vote to approve the sale of Ackroo to Paystone
HAMILTON, Ontario, Feb. 25, 2025 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company” or “Ackroo”), a gift card, loyalty marketing, payments and point-of-sale technology consolidator and services provider, is pleased to announce the results of its annual general and special meeting (the “Meeting”) of shareholders of the Company (the “Shareholders”) held yesterday February 24, 2025. The Shareholders approved the annual general matters as well as the special resolution (the “Arrangement Resolution”) approving a statutory plan of arrangement pursuant to section 192 of the Canada Business Corporations Act, pursuant to which Paystone Inc. (“Paystone”) will acquire all of the issued and outstanding common shares (the “Shares”) of Ackroo, and will assume all assets and liabilities of Ackroo (the “Arrangement”).
The Arrangement Resolution was approved at the Meeting by the affirmative vote of (i) more than two-thirds (66⅔%) of the votes cast on the Arrangement Resolution by Shareholders, and (ii) more than a majority (
A total of 83,212,289 Shares were voted in person or represented by proxy at the Meeting, representing approximately
| Resolution | Number of Shares | Percentage of Shares | |||||||
| For | Against | Withheld / Abstain | For | Against | Withheld / Abstain | ||||
| Re-appointment of MNP LLP as Auditor | 83,207,168 | 0 | 5,121 | 99.99 | % | 0.00 | % | 0.01 | % |
| Fixing the Number of Directors to Six | 83,200,168 | 12,000 | 0 | 99.99 | % | 0.01 | % | 0.00 | % |
| Election of Directors | |||||||||
| Steve Levely | 83,195,168 | 0 | 17,121 | 99.98 | % | 0.00 | % | 0.02 | % |
| Sam Cole | 83,195,168 | 0 | 17,121 | 99.98 | % | 0.00 | % | 0.02 | % |
| Philippe Bergeron Belanger | 83,195,168 | 0 | 17,121 | 99.98 | % | 0.00 | % | 0.02 | % |
| Jon Clare | 83,195,168 | 0 | 17,121 | 99.98 | % | 0.00 | % | 0.02 | % |
| Bradley French | 83,195,168 | 0 | 17,121 | 99.98 | % | 0.00 | % | 0.02 | % |
| Jeremy Jagt | 83,207,168 | 0 | 5,121 | 99.99 | % | 0.00 | % | 0.01 | % |
| Re-approval of the Incentive Plan | 83,169,489 | 42,800 | 0 | 99.95 | % | 0.05 | % | 0.00 | % |
| Approval of the Arrangement | 83,165,1681 | 47,121 | 0 | 99.94 | % | 0.06 | % | 0.00 | % |
Notes:
(1) For the purposes of the Minority Approval, 31,465,696 Shares held by certain interested or related parties or joint actors of Ackroo were excluded from voting, and 51,699,472 Shares (or
The court hearing for the final order to approve the Arrangement is scheduled to take place on March 3, 2025. The Arrangement remains subject to final court and regulatory approvals, including final approval of the TSX Venture Exchange. For a more detailed description of the Arrangement, please refer to the Company’s management information circular dated January 24, 2025, which is available at the Company’s issuer profile on SEDAR+ at sedarplus.ca.
Subject to the approval of the Ontario Superior Court of Justice (Commercial List) and the TSX Venture Exchange, the Arrangement is anticipated to be completed in Q1 2025.
About Paystone
Paystone is a leading North American payment and software company redefining the way merchants engage their customers and grow their businesses. The company’s suite of automated payment processing, customer loyalty programs, gift card solutions, and reputation marketing software is used at over 35,000 merchant locations across Canada and the United States which collectively process over 10 billion dollars a year in bankcard volume. The fintech company employs over 150 employees and serves as the technology partner of choice for hundreds of partners across North America.
About Ackroo
As an industry consolidator, Ackroo acquires, integrates and manages gift card, loyalty marketing, payment and point-of-sale solutions used by merchants of all sizes. Ackroo’s self-serve, data driven, cloud-based marketing platform helps merchants in-store and online process and manage loyalty, gift card and promotional transactions at the point of sale. Ackroo’s acquisition of payment ISO’s affords Ackroo the ability to resell payment processing solutions to their growing merchant base through some of the world’s largest payment technology and service providers. As a third revenue stream Ackroo has acquired certain custom software products including hybrid management and point-of-sale solutions that help manage and optimize the general operations for niche industries including automotive dealers and more. All solutions are focused on helping to consolidate, simplify and improve the merchant marketing, payments and point-of sale ecosystem for their clients. Ackroo is headquartered in Hamilton, Ontario, Canada. For more information, visit: www.ackroo.com.
For further information, please contact:
| Steve Levely Chief Executive Officer | Ackroo Tel: 416-360-5619 x730 Email: slevely@ackroo.com |
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This release contains forecasts and forward-looking statements that are not guarantees of future performance and activities and are subject to risks and uncertainties. The Company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, but are not limited to: the statements about the Arrangement, the possibility that the Arrangement will not be completed on the terms and conditions or timing currently contemplated, or at all, due to a failure to obtain, in a timely manner or otherwise, required court and regulatory approvals, including the approval of the TSX Venture Exchange, the failure to satisfy other conditions of closing or other circumstances contemplated by the Arrangement Agreement; the possibility of adverse reactions or changes in business relationships resulting from the completion or termination of the Arrangement Agreement which could have a material impact on the Company’s business and financial condition during the period prior to the closing of the Arrangement and upon any termination of the Arrangement Agreement; the Company’s ability to raise enough capital to support the Company’s go forward plans; the overall global economic environment; the impact of competition and new technologies; general market, political and economic conditions in the countries in which the Company operates; projected capital expenditures and liquidity; changes in the Company’s strategy; government regulations and approvals; changes in customers’ budgeting priorities; plus other factors that may arise.
Actual results or events could differ materially from those contemplated in forward-looking statements as a result of the following: the ability to secure the required court approvals; the occurrence of a “Material Adverse Effect” (as defined in the arrangement agreement dated December 12, 2024, as amended pursuant to an amending agreement dated February 3, 2025 (the “Arrangement Agreement”)); or the failure to satisfy any other closing conditions in favour of Paystone provided for in the Arrangement Agreement, which condition is not waived by Paystone. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances.
Any forward-looking statements in this press release are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
FAQ
When will Paystone's acquisition of Ackroo (AKRFF) be completed?
What percentage of Ackroo (AKRFF) shareholders voted in favor of the Paystone acquisition?
What approvals are still needed for the Ackroo (AKRFF) and Paystone deal to close?
What will happen to Ackroo's (AKRFF) assets and liabilities after the Paystone acquisition?
How many Ackroo (AKRFF) shares were represented at the shareholder meeting for the Paystone vote?
