TORONTO, Dec. 21, 2021 (GLOBE NEWSWIRE) — Stone Investment Group Limited (“SIG” or the “Corporation“) announces that the offer period for its fully-funded, all-cash offer to purchase 7,293 Debentures made by a wholly owned subsidiary for $800 per Debenture (the “Cash Offer“), has been extended to and shall expire at 5 pm EST on December 22, 2021 (the “Expiry Time“). SIG is pleased to report that there has been significant response to the Cash Offer from Debentureholders to date, with the Corporation approaching 97% of its 7,293 Debenture threshold (the “Threshold“). SIG has decided to extend to cash offer to the Expiry Time to allow any remaining Debentureholders to participate in the Cash Offer.
Details of the Cash Offer are set out in the offer document dated November 29, 2021 (the “Offer Document“) and the letter of transmittal (the “Letter of Transmittal“) circulated in connection with the Offeror’s original cash offer, as modified by the press releases issued by the Corporation on December 15, December 17 and December 21. Aside from the change in Expiry Time, all terms and conditions regarding the cash offer for Debentures remain the same. The Offer Document, the accompanying Letter of Transmittal and the press releases are available under the Corporation’s profile on SEDAR at www.sedar.com.
Debentureholders who wish to participate and tender their Debentures to the Cash Offer should immediately contact their advisor and direct them to complete SIG’s Letter of Transmittal and return it by email to Sintra Capital at [email protected] before the Expiry Time. Debentureholders who require a copy of the Letter of Transmittal can request it from Sintra Capital and it is also available under the Corporation’s profile on SEDAR at www.sedar.com.
Please refer to SIG’s November 30, 2021 press release, SIG’s December 15, 2021 press release, SIG’s December 17, 2021 press release, SIG’s December 21, 2021 press release, and Offer Document for more information.
About Stone Investment Group Limited
The Corporation is an independent wealth management company. The Corporation, through its wholly-owned subsidiary, Stone Asset Management Limited, structures and manages high quality investment products for Canadian investors.
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Disclaimer for Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding: the Debentures, the Cash Offer and the operations of the Corporation. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors that may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments and other risks outside of the Corporation’s control. Additional risk factors are included in the Company’s Management’s Discussion and Analysis, available under the Corporation’s profile on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by applicable laws, the Corporation disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.