MONTRÉAL, Feb. 14, 2018 /CNW Telbec/ - Under an arrangement approved by the shareholders of Napec Inc. at a Special Meeting of Shareholders on February 5, 2018 and a final order of the Québec Superior Court, District of Montréal, issued on February 7, 2018, the Fonds de solidarité FTQ sold to 9370-0219 Québec Inc. all its securities in Napec Inc. (the "company") at a price of $1.95 per share and $0.65 per warrant, for a total consideration of $41,330,354.
Prior to the arrangement, the Fonds de solidarité FTQ beneficially owned 20,628,043 common shares, representing approximately 19.51% of the issued and and outstanding shares, and 1,701,031 warrants, representing approximately 16.63% of the total warrants outstanding. All securities owned by the Fonds de solidarité FTQ represented approximately 19.42% of the voting rights for all of the company's securities, as each warrant entitles the holder to one-third of a vote during the shareholders' meeting.
An early warning report will be filed on SEDAR (www.sedar.com) under the company's profile. To obtain a copy, contact Liette Leduc at 514 850-4850. The company's head office is located at 1975 Jean-B. Michaud Street, Drummondville, Québec, J2C 0H2.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With $13.7 billion in net assets as at November 30, 2017, the Fonds has helped create and maintain over 186,440 jobs. The Fonds has more than 2,700 partner companies and over 645,000 shareholder-savers. For more information, visit fondsftq.com.
SOURCE Fonds de solidarité FTQ
For further information: for media representatives only: Patrick McQuilken, Senior Advisor, Media Relations and Communications, Fonds de solidarité FTQ, Phone: 514 850-4835, Mobile: 514 703-5587, Email: firstname.lastname@example.org
The Fonds de solidarité FTQ is a development capital investment fund that channels the savings of Quebecers into investments. As at May 31, 2017, the organization had $13.1 billion in net assets, and through its current portfolio of investments has helped create and protect 186,440 jobs. The Fonds is a partner in more than 2,700 companies and has 645,664 shareholder-savers.