ZoomerMedia Limited Announces Closing of Plan of Arrangement
ZoomerMedia has announced the closing of its plan of arrangement, effective December 13, 2024. Under the arrangement, 16431771 Canada Inc., owned by Northbridge Financial and Omri Tintpulver, acquired all outstanding minority shares at $0.08 per share in cash. The arrangement received shareholder approval on December 6, 2024, and court approval on December 11, 2024.
Following the completion, ZoomerMedia will be delisted from the TSX Venture Exchange and will apply to cease being a reporting issuer. Registered minority shareholders must submit their share certificates with a completed Letter of Transmittal to receive payment, while beneficial shareholders' intermediaries will handle the documentation process.
ZoomerMedia ha annunciato la chiusura del suo piano di accordo, effettivo dal 13 dicembre 2024. In base all'accordo, la 16431771 Canada Inc., di proprietà di Northbridge Financial e Omri Tintpulver, ha acquisito tutte le azioni di minoranza in circolazione a $0.08 per azione in contante. L'accordo ha ricevuto l'approvazione degli azionisti il 6 dicembre 2024 e l'approvazione del tribunale l'11 dicembre 2024.
Dopo il completamento, ZoomerMedia sarà esclusa dalla TSX Venture Exchange e farà richiesta per cessare di essere un emittente in reporting. Gli azionisti di minoranza registrati devono inviare i loro certificati azionari insieme a una Lettera di Trasmissione compilata per ricevere il pagamento, mentre gli intermediari degli azionisti beneficiari si occuperanno del processo documentale.
ZoomerMedia ha anunciado el cierre de su plan de arreglo, con efecto a partir del 13 de diciembre de 2024. En virtud del arreglo, 16431771 Canada Inc., propiedad de Northbridge Financial y Omri Tintpulver, adquirió todas las acciones de minoría en circulación a $0.08 por acción en efectivo. El arreglo recibió la aprobación de los accionistas el 6 de diciembre de 2024 y la aprobación judicial el 11 de diciembre de 2024.
Después de la finalización, ZoomerMedia será excluida de la TSX Venture Exchange y solicitará dejar de ser un emisor de informes. Los accionistas de minoría registrados deben enviar sus certificados de acciones con una Carta de Transmisión completada para recibir el pago, mientras que los intermediarios de los accionistas beneficiarios manejarán el proceso documental.
ZoomerMedia는 2024년 12월 13일부터 적용되는 합의 계획의 종료를 발표했습니다. 이 합의에 따라 Northbridge Financial과 Omri Tintpulver가 소유한 16431771 Canada Inc.가 모든 미지급 소수 주식을 주당 $0.08의 현금으로 인수했습니다. 이 합의는 2024년 12월 6일에 주주 승인을 받았고, 2024년 12월 11일에 법원의 승인을 받았습니다.
완료 후, ZoomerMedia는 TSX 벤처 거래소에서 상장 폐지되며, 보고하는 발행인 지위를 종료하기 위해 신청할 것입니다. 등록된 소수 주주들은 지불을 받기 위해 완성된 송신서와 함께 자신의 주권을 제출해야 하며, 유익 주주의 중개인이 서류 처리 과정을 담당할 것입니다.
ZoomerMedia a annoncé la clôture de son plan d'arrangement, effective le 13 décembre 2024. Dans le cadre de cet arrangement, 16431771 Canada Inc., détenue par Northbridge Financial et Omri Tintpulver, a acquis toutes les actions minoritaires en circulation à 0,08 $ par action en espèces. L'arrangement a reçu l'approbation des actionnaires le 6 décembre 2024 et l'approbation du tribunal le 11 décembre 2024.
Après la finalisation, ZoomerMedia sera retirée de la TSX Venture Exchange et demandera à cesser d'être un émetteur d'informations. Les actionnaires minoritaires enregistrés doivent soumettre leurs certificats d'actions accompagnés d'une lettre de transmission remplie pour recevoir le paiement, tandis que les intermédiaires des actionnaires bénéficiaires s'occuperont du processus de documentation.
ZoomerMedia hat den Abschluss seines Arrangements bekannt gegeben, das am 13. Dezember 2024 in Kraft tritt. Im Rahmen der Vereinbarung hat 16431771 Canada Inc., im Besitz von Northbridge Financial und Omri Tintpulver, alle ausstehenden Minderheitsaktien zu $0.08 pro Aktie in bar erworben. Die Vereinbarung erhielt am 6. Dezember 2024 die Zustimmung der Aktionäre und am 11. Dezember 2024 die gerichtliche Genehmigung.
Nach dem Abschluss wird ZoomerMedia von der TSX Venture Exchange delisted und wird beantragen, die Berichterstattung als Emittent einzustellen. Eingetragene Minderheitsaktionäre müssen ihre Aktienzertifikate zusammen mit einem vollständig ausgefüllten Übertragungsbrief einreichen, um die Zahlung zu erhalten, während die Intermediäre der vorteilhaften Aktionäre den Dokumentationsprozess übernehmen.
- Going private transaction provides immediate cash value to minority shareholders
- Transaction received both shareholder and court approval
- Clean exit strategy with definitive $0.08 per share cash consideration
- Delisting from TSX-V reduces stock liquidity and trading options
- Minority shareholders forced to sell at predetermined price
- Company will cease public reporting, reducing transparency
Toronto, Ontario--(Newsfile Corp. - December 16, 2024) - ZoomerMedia Limited (TSXV: ZUM) (the "Company" or "ZoomerMedia") is pleased to announce the closing of the previously announced plan of arrangement (the "Arrangement") pursuant to which 16431771 Canada Inc. (the "Purchaser"), a company owned by Northbridge Financial Corporation ("Northbridge"), an entity controlled by Fairfax Financial Holdings Limited, and Omri Tintpulver ("Tintpulver") acquired with an effective date of December 13, 2024 (the "Effective Date") all of the issued and outstanding common shares of the Company (the "Common Shares") not owned by Moses Znaimer ("Znaimer"), Tintpulver, Olympus Management Limited ("Olympus") and Northbridge (the "Minority Shares") at a price of
With the Arrangement now complete, the Common Shares will be halted from trading on the TSX Venture Exchange (the "TSX-V") and ZoomerMedia intends to cause the Common Shares to be delisted from the TSX-V as soon as reasonably practicable. In addition, ZoomerMedia intends to submit an application to the applicable securities regulators to cease to be a reporting issuer and to terminate its public reporting obligations.
As at the Effective Date each holder of a Minority Share (a "Minority Shareholder") is entitled to receive the Cash Consideration per Common Share. To receive their respective Cash Consideration, registered Minority Shareholders must surrender the certificates representing their Minority Shares together with a duly completed and corresponding executed Letter of Transmittal to Computershare Investor Services Inc. The Letter of Transmittal was mailed to Shareholders with ZoomerMedia's management information circular dated November 4, 2024. The Letter of Transmittal is for use by registered Minority Shareholders only and is not to be used by beneficial holders of Minority Shares ("Beneficial Minority Shareholders"). A Beneficial Minority Shareholder does not hold Minority Shares in its name but such shares are held by an intermediary such as a brokerage firm, or clearing agency such as CDS. If you are a Beneficial Minority Shareholder, your intermediary will submit the required documentation in order to receive your consideration.
About ZoomerMedia Limited
Founded by television and media icon Moses Znaimer in 2008, ZoomerMedia Limited is a multimedia company devoted to creating content for Canada's most powerful audiences: the 18.1 million people aged 45-plus aka "Zoomers", and the 15.1 million Millennials and Gen Zs, coincidentally also called "Zoomers", who follow in their footsteps.
ZoomerMedia operates 5 TV, 3 Radio, 2 Print, and 21 Digital properties. ZoomerMedia produces original TV, Radio, Podcast and Print content, offers clients creative audio and video production services, and bespoke events on site at its 2.6-acre complex in Toronto's Liberty Village.
Specific ZoomerMedia property names and descriptions, are as follows.
Television: VisionTV, available in 7.5 million households is Canada's home for British comedy and drama series, VisionTV's flagship current affairs show theZoomer, original Zoomer-made series like Your All-Time Classic Hit Parade, plus uplifting movies, music, and multicultural and multilingual faith programming; ONETV: The Exercise & Entertainment Channel, combines original Zoomer-made fitness series with British serial soaps, dramas and American movies; JoyTV in Vancouver, Victoria, Surrey and the Fraser Valley, and FAITHTV in Winnipeg are devoted to broadcasting Christian, multi-faith, and local content.
Zoomer Digital Network ("ZDN"): Reaches 18.5 million monthly active users with over a billion annual pageviews and social media engagements. ZDN comprises: DailyHive, dailyhive.com in Western Canada, Ontario, Quebec, and The Maritimes, is one of Canada's most followed lifestyle brands with over 10 million monthly active users, over 270 million annual page views, and 3.1 million followers across Instagram, Facebook, Twitter (X), TikTok, and LinkedIn; blogTO, blogto.com, Toronto's unrivalled local publisher across digital and social media platforms, brings in 8 million monthly active users, and over 213 million page views annually; Curiocity, curiocity.com is one of Alberta's leading digital media publishers, with a presence in Calgary, Edmonton, and a number of other key markets in Canada.
Zoomer Magazine's EverythingZoomer.com is Canada's leading provider of online content targeting the 45-plus; The Peak, readthepeak.com is a daily newsletter serving 150,000 Canadian professionals and business leaders with the day's top business and tech stories packaged in smart bite-sized formats; Ludwig Van, Ludwig-Van.com, is Canada's leading digital voice for classical music, opera and arts headline news, reviews, and interviews; and MobileSyrup, MobileSyrup.com is Canada's news and views source for all things tech; ZoomerMedia also operates TitusOne, a digital marketing agency that specializes in growing audiences through search, social media and creative content strategies.
Radio: The New Classical FM, Canada's only all classical music radio service broadcasting over three frequencies in a unique Ontario regional network: 96.3FM CFMZ-FM Toronto (GTA), 103.1FM CFMX-FM Cobourg (Eastern Ontario), and 102.9FM CFMO-FM Collingwood (Southern Georgian Bay); Zoomer Radio, Original Greatest Hits, which has the biggest broadcast footprint in Canada, reaches into the US, and broadcasts simultaneously on AM and FM in Toronto (740AM CFZM-AM and 96.7FM CFZM-FM in Downtown Toronto); and the newly acquired CJOS 92.3 FM in Owen Sound that will play Adult Hits, the 60s, 70s, 80s, along with information programming as part of the Zoomer Radio Regional network. (The sale is subject to CRTC approval and other closing conditions).
Print: ZOOMER Magazine, the Company's flagship magazine and Canada's largest paid circulation magazine for the 45-plus; and the quarterly On The Bay Magazine, the dominant regional lifestyle magazine for some two dozen towns and villages of Ontario's South Georgian Bay. On The Bay also produces Baywatch.ca, a TV style digital channel featuring up-to-the-minute headlines and hot sales offers, along with video stories showcasing local faces, places and events.
ZoomerMedia also supports the efforts of its affiliate non-profit, non-partisan advocacy association CARP, the Canadian Association of Retired Persons. Through ZoomerMedia, CARP has access to a powerful suite of media channels that no other advocacy group in Canada enjoys.
ZoomerMedia Contact:
Leanne Wright, SVP Communications
ZoomerMedia Limited
416-886-6873
leanne@zoomer.ca
CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS
Certain statements made in this news release are forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements with respect to timing to delist the Common Shares; and the application by ZoomerMedia to cease to be a reporting issuer and terminate its public reporting obligations. Often but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology.
Although ZoomerMedia believes that the forward-looking statements in this news release are based on information and assumptions that are current, reasonable and complete, these statements are by their nature subject to a number of factors that could cause actual results to differ materially from management's expectations and plans as set forth in such forward-looking statements.
The forward-looking statements contained in this news release describe ZoomerMedia's expectations at the date of this news release and, accordingly, are subject to change after such date. Except as may be required by applicable Canadian securities laws, ZoomerMedia does not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234020
FAQ
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