Nov 28, 2023
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UrbanStar Glendale Manor Inc. Announces Amendment and Extension of Insider Bid
September 01, 2020 5:55 PM EDT | Source: UrbanStar Glendale Manor Inc.
Calgary, Alberta--(Newsfile Corp. - September 1, 2020) - UrbanStar Glendale Manor Inc. (the "Issuer") and US Glendale Manor P2 Inc. ("Glendale 2") announce today the following changes to the previously announced offer to purchase (the "Original Offer") of all of the Issuer's issued and outstanding class B non-voting common shares ("Class B Shares") and debentures due September 28, 2020 (the "2020 Debentures" and each $950 of principal amount of 2020 Debenture and 10 Class B Shares, is referred to as a "Unit"), which was set out in a circular dated July 24, 2020 (the "Original Circular").
An Amendment to the Original Circular (the "Amendment") has been filed on www.sedar.com.
Summary of Changes of Terms from Original Offer to Amended Offer
The Offer, as amended by the Amendment, is referred to as the "Amended Offer". The terms of the Amended Offer are the same as the Original Offer other than as summarized below:
| Item | Original Offer | Amended Offer |
| Expiry Date: | September 1, 2020 or such earlier or later date or dates to which the Offer may be abridged or extended from time to time by the Issuer in accordance with Section 5 of the Offer, "Extension, Extension and Variation of the Offer". | October 7, 2020 or such earlier or later date or dates to which the Offer may be abridged or extended from time to time by the Issuer in accordance with Section 5 of the Offer, "Extension, Extension and Variation of the Offer". |
| Expiry Time: | 4:00 p.m. (Calgary time) on September 1, 2020. | 4:00 p.m. (Calgary time) on October 7, 2020. |
| Minimum Take up Condition: | None | No securities tendered to this bid will be taken up until (a) more than 50% of the outstanding securities of the class sought (excluding those securities beneficially owned, or over which control or direction is exercised by the Offeror or any person acting jointly or in concert with the Offeror) have been tendered to the bid, (b) the minimum deposit period required under applicable securities laws has elapsed, and (c) any and all other conditions of the bid have been complied with or waived, as applicable. If these criteria are met, the Offeror will take up securities deposited under the bid in accordance with applicable securities laws and extend its bid for an additional minimum period of 10 days to allow for further deposits of securities. |
Deposit Period: The Issuer announces that the minimum deposit period for any takeover bid offer will be 35 days from the date of the bid pursuant to Section 2.28.2 of 62-104 - Take-over Bids and Special Transactions.
Contact Information: Any questions or requests for assistance or additional copies of this Offer and Circular, may be directed to the Issuer at 1043 19 Avenue SE, Calgary, Alberta T2G 1M1; 403-984-4050 or invest@urbanstarcapital.com. Additional information can be found in the Circular and Amendment, which are available on www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63036