ACE Aviation Holdings Inc. announces final results of its substantial issuer
bid
The final pro ration factor that has been applied to the Class A Variable Voting Shares and Class B Voting Shares deposited under the offer is approximately 95.8%. As a result, shareholders who deposited Class A variable voting shares or Class B voting shares at a purchase price at or below Cdn$6.20 per share or pursuant to purchase price tenders will have approximately 95.8% of their Class A variable voting shares or Class B voting shares purchased at the purchase price, subject to adjustment for odd lots and to avoid the creation of fractional shares. Class A variable voting shares and Class B voting shares deposited at purchase prices in excess of Cdn$6.20 per share will not be taken up and purchased by ACE under the Offer.
Payment to the depositary for the Class A Variable Voting Shares and Class B Voting Shares taken up and purchased by ACE under the offer will be made by
For the purposes of subsection 191(4) of the Income Tax Act (
For Canadian tax purposes a deemed dividend of Cdn$6.20 per Class A Variable Voting Share and Class B Voting Share arises in respect of each Class A Variable Voting Share and Class B Voting Share purchased under the offer. For the enhanced dividend tax credit, under subsection 89(14) of the Income Tax Act (
CAUTION REGARDING FORWARD-LOOKING INFORMATION ---------------------------------------------
Certain statements in this news release may contain forward-looking statements. These forward-looking statements are identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would", and similar terms and phrases, including references to assumptions. Such statements may involve but are not limited to comments with respect to strategies, expectations, planned operations or future actions. Forward-looking statements, by their nature, are based on assumptions and are subject to important risks and uncertainties. Any forecasts or forward-looking predictions or statements cannot be relied upon due to, amongst other things, changing external events and general uncertainties of the business. Such statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to differ materially from those expressed in the forward-looking statements. Results indicated in forward-looking statements may differ materially from actual results for a number of reasons, including without limitation, energy prices, general industry, market, credit and economic conditions, war, terrorist acts, changes in demand due to the seasonal nature of the business, the ability to reduce operating costs and employee counts, employee relations, labour negotiations or disputes, pension issues, currency exchange and interest rates, changes in laws, adverse regulatory developments or proceedings, pending and future litigation and actions by third parties as well as the factors identified throughout ACE's filings with securities regulators in
For further information: Des Beaumont, (514) 205-7639; www.aceaviation.com
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