UGE International Ltd. Provides Update on Closing of Plan of Arrangement
UGE International (TSXV: UGE) (OTCQB: UGEIF) has announced an update on the closing of its previously announced plan of arrangement with 1000896425 Ontario , an affiliate of NOVA Infrastructure Fund II, LP. The closing is now expected to occur on or about August 14, 2024, slightly later than the previously stated date of August 8, 2024.
The delay is attributed to the need for certain shareholders participating as rolling shareholders to complete share transfers related to their continued participation in UGE following the arrangement's completion. UGE has confirmed that the Purchaser has fulfilled its obligations under the Arrangement Agreement, including depositing the required cash consideration with TSX Trust Company, the acting depositary.
UGE International (TSXV: UGE) (OTCQB: UGEIF) ha annunciato un aggiornamento sulla chiusura del suo precedente piano di disposizione con 1000896425 Ontario, un'affiliata di NOVA Infrastructure Fund II, LP. La chiusura è ora prevista per circa il 14 agosto 2024, leggermente più tardi rispetto alla data precedentemente indicata dell'8 agosto 2024.
Il ritardo è attribuito alla necessità di alcuni azionisti, partecipanti come azionisti cedenti, di completare i trasferimenti azionari relativi alla loro continua partecipazione in UGE dopo il completamento dell'accordo. UGE ha confermato che l'Acquirente ha adempiuto ai propri obblighi ai sensi dell'Accordo di Disposizione, inclusi il deposito della somma di denaro richiesta presso la TSX Trust Company, il depositario in carica.
UGE International (TSXV: UGE) (OTCQB: UGEIF) ha anunciado una actualización sobre el cierre de su plan de arreglo previamente anunciado con 1000896425 Ontario, una afiliada de NOVA Infrastructure Fund II, LP. Se espera que el cierre ocurra aproximadamente el 14 de agosto de 2024, un poco más tarde que la fecha indicada anteriormente del 8 de agosto de 2024.
El retraso se atribuye a la necesidad de que ciertos accionistas que participan como accionistas en tránsito completen las transferencias de acciones relacionadas con su continua participación en UGE tras la finalización del arreglo. UGE ha confirmado que el Comprador ha cumplido con sus obligaciones según el Acuerdo de Arreglo, incluyendo el depósito de la contraprestación monetaria requerida con la TSX Trust Company, el depositario actuante.
UGE International (TSXV: UGE) (OTCQB: UGEIF)는 NOVA Infrastructure Fund II, LP의 계열사인 1000896425 Ontario와의 이전에 발표된 정리 계획의 마감에 대한 업데이트를 발표했습니다. 마감은 이제 2024년 8월 14일 경에 이루어질 것으로 예상되며, 이전에 언급된 2024년 8월 8일보다 약간 늦춰졌습니다.
이 지연은 일부 주주들이 롤링 주주로서 UGE의 계속된 참여와 관련된 주식 이전을 완료할 필요성 때문입니다. UGE는 매입자가 약정 계약에 따른 의무를 이행했으며, TSX Trust Company에 필요한 현금 보상을 예치했다고 확인했습니다.
UGE International (TSXV: UGE) (OTCQB: UGEIF) a annoncé une mise à jour concernant la clôture de son plan d'arrangement précédemment annoncé avec 1000896425 Ontario, un affilié de NOVA Infrastructure Fund II, LP. La clôture devrait désormais avoir lieu aux alentours du 14 août 2024, légèrement plus tard que la date précédemment indiquée du 8 août 2024.
Le retard est attribué à la nécessité pour certains actionnaires participant en tant qu'actionnaires roulant de compléter les transferts d'actions liés à leur participation continue dans UGE après l'achèvement de l'arrangement. UGE a confirmé que l'acheteur a rempli ses obligations en vertu de l'Accord d'Arrangement, y compris le dépôt de la somme d'argent requise auprès de la TSX Trust Company, le dépositaire en charge.
UGE International (TSXV: UGE) (OTCQB: UGEIF) hat ein Update zum Abschluss seines zuvor angekündigten Regelungsplans mit 1000896425 Ontario, einer Tochtergesellschaft des NOVA Infrastructure Fund II, LP, veröffentlicht. Der Abschluss wird nun voraussichtlich um den 14. August 2024 stattfinden, leicht später als der zuvor angegebene Termin am 8. August 2024.
Die Verzögerung ist auf die Notwendigkeit zurückzuführen, dass bestimmte Aktionäre, die als rollierende Aktionäre teilnehmen, die Aktienübertragungen im Zusammenhang mit ihrer fortgesetzten Teilnahme an UGE nach dem Abschluss des Arrangements abschließen müssen. UGE hat bestätigt, dass der Käufer seinen Verpflichtungen aus dem Arrangement-Vertrag nachgekommen ist, einschließlich der Einzahlung der erforderlichen Geldbeträge bei der TSX Trust Company, dem zuständigen Depot.
- The Purchaser has satisfied its obligations under the Arrangement Agreement
- The aggregate cash consideration has been deposited with the depositary
- Closing of the plan of arrangement has been delayed from August 8 to August 14, 2024
Toronto, Ontario--(Newsfile Corp. - August 9, 2024) - UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) (the "Company" or "UGE") announces that the closing of its previously announced plan of arrangement (the "Arrangement") with 1000896425 Ontario Ltd. (the "Purchaser"), an affiliate of NOVA Infrastructure Fund II, LP, pursuant to an arrangement agreement (the "Arrangement Agreement"), dated May 28, 2024, is now expected to occur on or about August 14, 2024, as opposed to on or about August 8, 2024, as was previously stated in the Company's news release dated July 31, 2024.
The Company acknowledges that the Purchaser has satisfied its obligations under the Arrangement Agreement, including depositing the aggregate cash consideration payable under the Arrangement with TSX Trust Company, acting as the depositary. A brief delay to the closing is required in order for certain shareholders who are participating as rolling shareholders to complete share transfers relating to their continued participation in UGE following the completion of the Arrangement.
About UGE International Ltd.
UGE develops, owns, and operates community and commercial solar & battery storage projects. Our distributed energy solutions provide cheaper, cleaner energy to businesses and households throughout the United States. With over 500 megawatts of project experience, UGE is working daily to make renewable energy accessible and affordable for all. Visit us at www.ugei.com. For more information, contact UGE:
Nick Blitterswyk - investors@ugei.com or +1 917 720 5685.
About NOVA Infrastructure
Founded in 2018, NOVA Infrastructure (http://www.novainfra.com) is a value-added, middle market infrastructure investment firm focused on North America. NOVA seeks to make investments that pair the downside protection features of the infrastructure asset class with operationally focused, value-added upside strategies. NOVA targets investments in environmental services, transportation, energy / energy transition, and digital sectors.
Ellen DeGiusti - edegiusti@sloanepr.com.
Forward-looking statements and forward-looking information
Certain statements made herein, including statements relating to matters that are not historical facts and statements of the Company's beliefs, intentions and expectations about developments, results and events which will or may occur in the future, constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information relates to future events or future performance, reflect current expectations or beliefs regarding future events and is typically identified by words such as "anticipate", "believe", "could", "estimate", "expect", "intend", "likely", "may", "plan", "seek", "should", "will" and similar expressions suggesting future outcomes or statements regarding an outlook. Forward-looking information includes, but is not limited to, statements with respect to the Arrangement, including closing and various other steps to be completed in connection with the Arrangement.
Forward-looking information is based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such information. There can be no assurance that such information will prove to be accurate. Such information is based on numerous assumptions, including assumptions regarding the ability to complete the Arrangement on the contemplated terms or at all, that the conditions precedent to closing of the Arrangement can be satisfied, and assumptions regarding present and future business strategies, local and global economic conditions, and the environment in which the Company operates.
Although the Company believes that the forward-looking information in this news release is based on information and assumptions that are current, reasonable and complete, this information is by its nature subject to a number of factors, many of which are beyond the Company's control, that could cause actual results to differ materially from management's expectations and plans as set forth in such forward-looking information, including, without limitation, the following factors, many of which are beyond the Company's control and the effects of which can be difficult to predict: (a) the possibility that the Arrangement will not be completed on the terms and conditions, or on the timing, currently contemplated, and that it may not be completed at all due to a failure to satisfy all conditions of closing necessary to complete the Arrangement or for other reasons; (b) the possibility of adverse reactions or changes in business relationships resulting from the announcement or completion of the Arrangement; (c) risks relating to the retention of key personnel during the interim period; (d) the possibility of litigation relating to the Arrangement; (e) risks related to the diversion of management's attention from the Company's ongoing business operations; (f) risks relating to the ability of the Purchaser to complete the Arrangement; and (g) other risks inherent to the Company's business and/or factors beyond its control which could have a material adverse effect on the Company or the ability to consummate the Arrangement. The Company cautions that the foregoing list is not exhaustive of all possible factors that could impact the Company's results.
Readers are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predicted outcomes will not occur. Events or circumstances could cause the Company's actual results to differ materially from those estimated or projected and expressed in, or implied by, this forward-looking information.
Investors and others should carefully consider the factors and other uncertainties and potential events and should not rely on the Company's forward-looking information to make decisions with respect to the Company. Furthermore, the forward-looking information contained herein are made as of the date of this document and the Company does not undertake any obligation to update or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. All forward-looking information contained herein is expressly qualified by this cautionary statement.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219379
FAQ
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