CALGARY, Jan. 7 /CNW/ - Parkbridge Lifestyle Communities Inc. ("Parkbridge") (TSX - PRK) announced today that it has completed the previously announced
arrangement under the Business Corporations Act (Alberta) involving 1561609 Alberta Ltd. ("AcquireCo"), a company owned
by British Columbia Investment Management Corporation ("bcIMC") and its
clients. Under the terms of the arrangement, AcquireCo acquired all of
the issued and outstanding common shares of Parkbridge and Parkbridge
shareholders received $7.30 in cash for each share.
Registered shareholders of Parkbridge who have not already done so
should submit completed letters of transmittal and share certificates
to the depositary under the arrangement, Computershare Trust Company
of Canada. Payment to shareholders will be made following the receipt
of such documents. Shareholders who hold Parkbridge common shares
through a broker, investment dealer, bank, trust company or other
intermediary should complete the documentation provided by such broker
or intermediary in accordance with the instructions received.
Parkbridge is one of Canada's leading owners, operators and developers
of land lease residential communities and seasonal recreational
resorts. The portfolio is concentrated in the provinces of Ontario,
Alberta, Quebec and British Columbia. Parkbridge is listed on the
Toronto Stock Exchange under the symbol "PRK" and its head office is in
Calgary, Alberta. Additional information relating to Parkbridge may be
found on SEDAR at www.sedar.com.
bcIMC is an investment management corporation based in Victoria, British
Columbia, that manages a global investment portfolio valued at over $80
billion as at September 30, 2010. Supported by industry-leading
expertise, bcIMC invests in all major asset classes, including
infrastructure and other strategic types of assets. bcIMC's clients
include public sector pension plans, public trusts and insurance funds.
For more information, visit www.bcimc.com.
SOURCE Parkbridge Lifestyle Communities Inc.
For further information:
Mr. Joe Killi
Telephone: (403) 215-2116
Mr. Iain Stewart
President, Western Operations and Co-CEO
Telephone: (403) 215-2109
Mr. David Rozycki
President, Eastern Operations and Co-CEO
Telephone: (705) 429-8559