Trilogy International Partners Inc. - TLLYF STOCK NEWS

Trilogy International Partners announced its plan to list common shares on the NEX board of the TSX Venture Exchange on or about December 28, 2022. This move follows the company's voluntary delisting from the TSX, expected on December 23, 2022. The decision aims to lower operating costs after Trilogy sold its wireless and broadband subsidiaries earlier this year. Four directors will resign, leaving three remaining board members. The company believes this transition will maintain share trading without interruption.

Trilogy International Partners Inc. (TSX:TRL) announced it no longer qualifies as a foreign private issuer under U.S. securities laws, leading to the termination of its resale registration for common shares effective December 31, 2022. This change will not affect non-U.S. investors, who can continue to sell shares post-deadline. U.S. investors may sell their shares via offshore markets or private placements. Trilogy, having sold its telecommunications subsidiaries in May 2022, is in the process of liquidation.

Trilogy International Partners announced its Q2 2022 financial results, highlighted by the sale of its New Zealand subsidiary at an implied value of $1.7 billion NZD. The company received $908 million NZD, with an additional $30 million NZD in escrow. A forward exchange contract generated a $16.6 million gain. Debt was fully repaid, totaling approximately $450 million, and a C$150 million return of capital was distributed, equating to about C$1.69 per Common Share. The remaining cash balance stands at $32 million. The company aims to streamline operations and anticipates another capital return in mid-2023.

Trilogy International Partners has completed a C$150 million (approx. US$120 million) return of capital distribution to common shareholders after the sale of its subsidiary, Two Degrees Group Limited, for NZ$1.315 billion. Each common share received approximately C$1.69, with distributions to non-Canadian shareholders converted to USD. Proceeds from the subsidiary sale were primarily used to prepay approximately US$450 million in debt. Future distributions depend on escrow proceeds and currency fluctuations.

Trilogy International Partners Inc. held its Annual General Meeting on June 24, 2022, where all seven board nominees proposed by management were successfully elected. The votes showed strong support for the board, with over 99% approval for most nominees. Additionally, Grant Thornton LLP was reappointed as the company’s auditor with 99.883% of the votes in favor. The results indicate a solid backing from shareholders, reflecting confidence in the board's leadership and the company’s strategic direction.

Trilogy International Partners has announced a capital return distribution of C$150 million (approximately US$120 million) to common shareholders following the liquidation plan adopted on June 10, 2022. This amounts to C$1.69 per share, with payments scheduled for June 27, 2022. The distribution is funded from proceeds of the sale of Trilogy's New Zealand subsidiary, Two Degrees Group Limited, which was sold for NZ$1.315 billion. The board also confirmed a capital reduction equal to the distribution amount, and shareholders outside Canada will receive distributions in US dollars.

Trilogy International Partners has prepaid approximately US$450 million in outstanding debt, eliminating its remaining indebtedness. This repayment comes after the sale of its New Zealand subsidiary, Two Degrees Group Limited, with proceeds designated for debt reduction and future shareholder distributions. The actual distribution amount will depend on various factors, including currency fluctuations and dissolution costs. This move strengthens Trilogy's financial position as it transitions following the subsidiary sale.

Trilogy International Partners Inc. has successfully closed the sale of its New Zealand subsidiary, Two Degrees Group Limited, to Voyage Digital for NZ$1.315 billion. Following the transaction, Trilogy expects to receive approximately NZ$905 million after costs and distributions to minority shareholders. The company plans to use the proceeds to pay off about USD$450 million in debt and will initiate shareholder distributions within 60 days. The final distribution amount will depend on currency fluctuations and dissolution costs.

Trilogy International Partners (TLLYF) announced the termination of its Dividend Reinvestment Plan (DRIP), effective June 13, 2022, as part of its strategy to return capital to shareholders post-sale of its New Zealand subsidiary, Two Degrees Group Limited. The company has also executed agreements to sell its Bolivian operations. These transactions are expected to close in the second quarter of 2022, positioning Trilogy to streamline operations and enhance shareholder value.