TORONTO, Nov. 6, 2014 /CNW/ - Newco Bancorp Inc. (the "Company") announced today that it has filed on www.sedar.com its Notice of Meeting and Management Information Circular in respect of its upcoming Annual General Meeting, which will be held on December 5, 2014 at 10:00 a.m. in the Hudson Room at the Holiday Inn Yorkdale, 3450 Dufferin Street, Toronto, Ontario.
These materials, which will also be mailed to the Company's shareholders, include a letter from the Company's Chair in which shareholders are advised that the Company's Board of Directors is currently considering several alternatives for the Company's future course of action including liquidation of the Company's assets and distribution of the Company's net assets to its shareholders. The Company is examining the most efficient and tax effective means to give effect to this liquidation and distribution, and expects to provide a further update on this matter in the coming months to the shareholders.
It is expected that the transaction giving effect to this distribution will require the approval of shareholders at a special meeting to be called once the proposed transaction has been finalized. Shareholders will receive additional details on the transaction in a Management Information Circular to be sent to shareholders in advance of any such meeting.
SOURCE: Newco Bancorp Inc.
For further information: Maxwell L. Rotstein, Chair, President & CEO, Newco Bancorp Inc., Tel: (416) 488-3322 ext.27, Fax: (416) 488-8350