MEGA Brands announces meeting date for vote on recapitalization transaction
The record date for both common shareholders and secured debt holders is the close of business on
The record date and meeting date were finalized following an interim order to proceed granted earlier today. As a standard procedure for companies with cross-border operations, the Corporation will be making related filings to gain recognition for the transaction in the
Under the proposed recapitalization transaction, the Corporation expects to reduce its debt by approximately US$290.0 million and its annual interest expenses by approximately US$30.0 million. The Board of Directors of the Corporation unanimously recommends that shareholders and holders of its senior secured debt vote in favour of the transaction.
Customers, suppliers and employees are unaffected by the recapitalization transaction and the Corporation will continue to satisfy its obligations in the normal course.
About MEGA Brands Inc.
MEGA Brands Inc. is a trusted family of leading global brands in construction toys, games & puzzles, arts & crafts and stationery. They offer engaging creative experiences for children and families through innovative, well-designed, affordable and high-quality products. Visit http://www.megabrands.com for more information.
The MEGA logo, Mega Bloks,
Forward-Looking Statements
All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking information" within the meaning of applicable Canadian securities laws These statements represent the Corporation's intentions, plans, expectations and beliefs. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking information and statements are based on a number of assumptions and involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by them, including, but not limited to risks, assumptions and uncertainties described in the Corporation's preliminary short form prospectus in respect of the offering of Subscription Receipts as well as in the documents incorporated by reference therein including the Corporation's management's discussion and analysis for the year ended
For further information: Investor Contacts: Peter Ferrante, Chief Financial Officer, (514) 333-5555 ext. 2283; Eric Laniel, (514) 333-5555 ext. 2620; Media Contacts: Mark P. Girgis, Vice-President Legal Affairs, (514) 333-5555 ext. 2897; Carine Sroujian, (514) 333-5555 ext. 2669
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