MISSISSAUGA, ON, Jan. 13 /CNW/ - Renasant Financial Partners Ltd. (TSX:
REN) ("Renasant") hereby announce the completion of the previously announced
going-private transaction of Renasant by way of consolidation (the
"Consolidation"). The Consolidation was approved by the shareholders of
Renasant at a special meeting held on January 12, 2009 (the "Meeting"). Of
Shareholders voting at the Meeting, 98.88% voted in favour of the
Consolidation. Paros Enterprises Limited and Capital Tachane Inc. now
indirectly hold 100% of Renasant.
As described in the Renasant Management Information Circular dated
December 15, 2008, any Shareholder (other than a dissenting shareholder) whose
common shares of Renasant (the "Shares") were consolidated into less than one
whole post-Consolidation Share as a result of the Consolidation are not
entitled to receive any fractional Shares and instead are entitled to receive
payment of $1.75 in cash for each pre-Consolidation Share held. Any such
shareholder will no longer be entitled to any other rights as a shareholder of
As previously announced, applications will be filed to de-list the common
shares of Renasant from trading on the Toronto Stock Exchange and for Renasant
to cease to be a reporting issuer.
About Renasant Financial Partners Ltd.
Mississauga-based Renasant Financial Partners is an independent financial
service provider undertaking debt and equity investments in both private and
public companies. The Corporation aims to prudently manage its investment
portfolio and the contingent obligations of the Corporation, while exploring
various investment opportunities to ensure surplus funds are adequately
utilized and returning the balance to its shareholders.
For further information:
For further information: Robert D. Wright, Senior Vice President & Chief
Financial Officer, Tel: (905) 281-5897, E-mail: email@example.com