Toronto, Ontario--(Newsfile Corp. - March 1, 2021) - Â BBL Acquisitions Inc. (the "Offeror") is pleased to announce that the Offeror has been successful in its offer (the "Offer") to purchase all of the outstanding Class A Subordinate Voting shares (the "Class A Shares") of Brampton Brick Limited (TSX: BBL.A) ("BBL").
Based upon reports received from AST Trust Company (Canada), the depositary for the Offer, as of the expiry of the Offer at 5:00 p.m. (Toronto time) on March 1, 2021 (the "Initial Expiry Time"), 3,376,426 Class A Shares, representing approximately 64.9% of the issued and outstanding Class A Shares excluding Class A Shares, beneficially owned or over which control or direction is exercised by the Offeror or any person acting jointly or in concert with the Offeror, were properly tendered to the Offer and not withdrawn prior to the Initial Expiry Time.
All of the conditions of the Offer have now been satisfied or waived by the Offeror. In accordance with the terms of the Offer, the Offeror will immediately take up the Class A Shares that have been tendered to date and pay for the Class A Shares taken up as soon as possible and, in any event, not later than three business days after the Class A Shares are taken up.
Pursuant to National Instrument 62-104 - Take-Over Bids and Issuer Bids, the initial deposit period during which Class A Shares may be deposited under the Offer has been extended for the mandatory
10-day extension period, and accordingly the Offer will remain open for acceptance until 5:00 p.m. (Toronto time) on March 11, 2021 (the "Expiry Time"). BBL shareholders who tender their Class A Shares prior to the Expiry Time will receive the same $12 per Class A Share cash consideration to be received by BBL shareholders whose Class A Shares were deposited and not withdrawn prior to the Initial Expiry Time.
Information concerning the Offer can be found in the Offeror's Circular dated December 21, 2021, a copy of which is available on BBL's profile at www.sedar.com.
For more information please contact:
Jeffrey G. Kerbel
Tel: 905 840-1011
Email: jkerbel@kerbel.ca
Fax: 905 840-1535
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75781
