BBL Acquisitions Inc. Announces Extension of Bid for Brampton Brick Limited
Toronto, Ontario--(Newsfile Corp. - March 8, 2021) - BBL Acquisitions Inc. (the "Offeror") announces that in connection with the take-over bid (the "Offer") for all of the outstanding Class A Subordinate Voting shares (the "Class A Shares") of Brampton Brick Limited (TSX: BBL.A) ("BBL") it has extended the Offer to 5:00 p.m. (Toronto time) on Monday, March 22, 2021 (the "Expiry Time").
As of the date hereof, the Offeror has taken up and paid for 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Offeror or any person acting jointly or in concert with the Offeror, which were properly tendered to the Offer and not withdrawn prior to 5:00 p.m. (Toronto time) on March 1, 2021 (the "Initial Expiry Time"). See the Offeror's press release dated March 1, 2021. As of the close of business on March 5, 2021, an additional 305 Class A Shares have been deposited to the Offer.
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$12 per Class A Share cash consideration to be received by BBL shareholders whose Class A Shares were deposited and not withdrawn prior to the Initial Expiry Time.
The Offeror will file and mail to BBL's registered and beneficial holders a corresponding notice of variation and extension regarding the extension of the Expiry Time. Shareholders who have previously validly deposited their Class A Shares do not need to take any further action to accept the Offer. The Offeror will take up and pay for Class A Shares validly deposited to the Offer prior to the Expiry Time and not withdrawn within 10 calendar days after any such deposit.
In order to accept the Offeror's bid and receive the cash consideration offered, a holder of Class A Shares must deliver the subject share certificates, with a completed Letter of Transmittal to AST Trust Company (Canada) on or before 5:00 p.m. (Toronto time) on Monday, March 22, 2021. In the alternative, a holder who wishes to accept the Offeror's offer may deliver a Notice of Guaranteed Delivery to AST Trust Company (Canada) on or before 5:00 p.m. (Toronto time) on Monday, March 22, 2021. The specific procedures for accepting the Offeror's offer are described in greater detail in the Circular that was previously mailed to holders of Class A Shares (with the Letter of Transmittal and Notice of Guaranteed Delivery), which can also be accessed online at www.sedar.com at BBL's profile page.
For more information please contact:
Jeffrey G. Kerbel
Tel: 905 840-1011
Fax: 905 840-1535
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/76440