The Arrangement Resolution was required to be passed by not less than two-thirds of the votes cast by CWC Shareholders, either in person or by proxy at the Meeting, and by a simple majority of the votes cast by CWC Shareholders, either in person or by proxy at the Meeting, after excluding the votes cast by such CWC Shareholders that were required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101").
A total of 411,524,412 CWC Shares (approximately 79.75% of the issued and outstanding CWC Shares) were represented at the Meeting in person or by proxy. The Arrangement Resolution was approved by 99.92% of the votes cast by CWC Shareholders, and by 99.92% of the votes cast by such CWC Shareholders after excluding the votes cast by such CWC Shareholders that were required to be excluded pursuant to MI 61-101.
CWC expects to apply for the final approval of the
READER ADVISORY - Neither the
This news release contains certain forward-looking information and statements (collectively, "forward‐looking statements") within the meaning of applicable Canadian securities legislation. Certain statements contained in this news release may contain such words as "anticipate", "could", "continue", "should", "seek", "may", "intend", "likely", "plan", "estimate", "believe", "expect", "will", "objective", "ongoing", "project", "view" and similar expressions are intended to identify forward-looking information or statements. In particular, this news release contains forward-looking statements in respect of the anticipated timing for completion of the Arrangement. Although the Company believes that the expectations and assumptions on which such forward-looking information and statements are based are reasonable, undue reliance should not be placed on the forward-looking information and statements because the Company can give no assurances that they will prove to be correct. Since forward-looking information and statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the failure to meet the conditions precedent to the Arrangement, including court approval. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors were included in our management information circular dated
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