TSX:GWO
Lifeco does not endorse New York Stock and Bond's unsolicited offer, has no association with New York Stock and Bond or its offer, and does not recommend acceptance of the offer. New York Stock and Bond's offer has been made at a price below the current market price for the shares.
Mini-tender offers such as New York Stock and Bond's seek less than 5% of a class of outstanding shares and so avoid many of the investor protections like disclosure and procedural protections applicable to most bids under Canadian law. Securities regulators have expressed serious concerns about mini-tender offers, including the possibility that investors might tender to such offers without understanding the offer price relative to the actual market price of their securities. The
Lifeco urges shareholders to obtain current market quotes for their shares and to consult with their broker or financial advisor in considering New York Stock and Bond's offer. According to New York Stock and Bond's offer documents, Lifeco shareholders who have already tendered their shares can withdraw their shares no more than 30 days after the date of delivery of their tender form to the depositary by following the procedure described in the offer documents. New York Stock and Bond has reserved the right to purchase an additional amount of shares over and above 50,000 common shares, such additional amount not to exceed 2% of the outstanding common shares.
To read more about the risks of mini-tender offers, please review the Canadian Securities Administrators' comments at https://docs.mbsecurities.ca/msc/notices/en/item/103061/index.do.
Lifeco requests that a copy of this news release be included in any distribution of materials relating to New York Stock and Bond's mini-tender offer for Lifeco common shares.
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