Environmental Waste International Inc. Securityholders Approve Acquisition by Hydrotrux Group Ltd.
Environmental Waste International (TSXV: EWS) announced that securityholders have overwhelmingly approved the acquisition plan by Hydrotrux Group The arrangement received 98.5% approval from Company securityholders and 98.7% from shareholders. Under the deal, Hydrotrux will acquire all outstanding EWS common shares for C$0.0035 per share in cash. The Ontario Superior Court of Justice has granted final approval, with the transaction expected to close around November 28, 2024.
Environmental Waste International (TSXV: EWS) ha annunciato che gli azionisti hanno approvato in modo schiacciante il piano di acquisizione da parte di Hydrotrux Group. L'accordo ha ricevuto un'approvazione del 98,5% da parte degli azionisti della Società e del 98,7% dai soci. In base all'accordo, Hydrotrux acquisirà tutte le azioni ordinarie di EWS in circolazione per C$0,0035 per azione in contanti. La Corte Superiore dell'Ontario ha concesso l'approvazione finale, con la transazione prevista per chiudere intorno al 28 novembre 2024.
Environmental Waste International (TSXV: EWS) anunció que los tenedores de valores han aprobado abrumadoramente el plan de adquisición por parte de Hydrotrux Group. El acuerdo recibió el 98,5% de aprobación de los tenedores de valores de la empresa y el 98,7% de los accionistas. Según el acuerdo, Hydrotrux adquirirá todas las acciones ordinarias en circulación de EWS por C$0,0035 por acción en efectivo. La Corte Superior de Justicia de Ontario ha otorgado la aprobación final, y se espera que la transacción se cierre alrededor del 28 de noviembre de 2024.
Environmental Waste International (TSXV: EWS)은 담보권자들이 Hydrotrux Group에 의한 인수 계획을 압도적으로 승인했다고 발표했습니다. 이 계약은 회사 담보권자로부터 98.5%의 승인을 받았으며, 주주로부터는 98.7%의 승인을 받았습니다. 계약에 따라 Hydrotrux는 EWS의 모든 유통 보통주를 주당 C$0.0035의 현금으로 인수할 것입니다. 온타리오 고등법원은 최종 승인을 부여했으며, 거래는 2024년 11월 28일경에 마감될 것으로 예상됩니다.
Environmental Waste International (TSXV: EWS) a annoncé que les porteurs de titres ont approuvé massivement le plan d'acquisition par le groupe Hydrotrux. L'accord a reçu une approbation de 98,5% de la part des porteurs de titres de la société et de 98,7% des actionnaires. Selon l'accord, Hydrotrux acquerra toutes les actions ordinaires en circulation d'EWS pour C$0,0035 par action en espèces. La Cour supérieure de justice de l'Ontario a accordé l'approbation finale, et la transaction devrait être finalisée vers le 28 novembre 2024.
Environmental Waste International (TSXV: EWS) gab bekannt, dass die Besitzinhaber den Übernahmeplan der Hydrotrux Group überwältigend genehmigt haben. Die Regelung erhielt eine 98,5% Zustimmung von den Wertpapierinhabern des Unternehmens und 98,7% von den Aktionären. Im Rahmen des Deals wird Hydrotrux alle ausstehenden EWS-Stammaktien für C$0,0035 pro Aktie in bar erwerben. Das Obergericht von Ontario hat die endgültige Genehmigung erteilt, wobei der Abschluss der Transaktion für etwa den 28. November 2024 erwartet wird.
- High approval rate of 98.5% from securityholders and 98.7% from shareholders
- Received final court approval for the acquisition
- Clear cash payment terms of C$0.0035 per share
- Low acquisition price of only C$0.0035 per share indicates minimal company value
Whitby, Ontario--(Newsfile Corp. - November 26, 2024) - Environmental Waste International Inc. (TSXV: EWS) (the “Company” or “EWS”), is pleased to announce that the plan of arrangement (the “Arrangement”) of Company involving Hydrotrux Group Ltd. (“Hydrotrux”) has been overwhelmingly approved by Company securityholders at an annual and special meeting (the “Meeting”) held yesterday. At the Meeting, approximately
Under the Arrangement, Hydrotrux will acquire all of the common shares of Company that are issued and outstanding at the effective time of the Arrangement and Company shareholders will be entitled to receive, in respect of each Company common share held at the effective time of the Arrangement, C
The Company also received a final order of the Ontario Superior Court of Justice (Commercial List) (the “Court”) approving the Arrangement at a hearing held today. It is currently expected that the transaction will close on or around November 28, 2024.
Full details of the Arrangement and certain other matters are set out in the management information circular of EWS dated October 18, 2024 (the “Information Circular”). A copy of the Information Circular and other meeting materials can be found on Company’s website at www.ewi.ca or under Company’s profile on SEDAR+ at www.sedarplus.ca.
About Environmental Waste International Inc.
Environmental Waste International Inc. specializes in eco-friendly systems for the breakdown of organic materials, including tires. The Company has spent over 15 years engineering systems that integrate the EWS patented Reverse Polymerization™ process and proprietary microwave delivery system. EWS’s unique microwave technology safely processes and recycles waste tires, while recovering highly valuable commodities, including carbon black, oil and steel. Each unit is designed to be environmentally safe, energy efficient, and economically profitable for the operator. For more information please visit, www.ewi.ca.
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain “forward-looking statements” within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. A more complete discussion of the risks and uncertainties facing the Company appears in the Company’s continuous disclosure filings, which are available at www.sedarplus.ca.
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FAQ
What is the acquisition price per share for Environmental Waste International (TSXV: EWS)?
When is the expected closing date for the Hydrotrux acquisition of EWS?
What percentage of EWS shareholders approved the Hydrotrux acquisition?
Has the court approved the Hydrotrux-EWS acquisition?
