June 18, 2013
/CNW/ - Softchoice Corporation (TSX: SO) today announced the completion of the previously announced going-private transaction by way of plan of arrangement involving Birch Hill Equity Partners. As a result, Goliath Acquisition Inc., a corporation indirectly owned by Birch Hill Fund IV, has acquired all of the outstanding common shares of Softchoice for cash consideration of
per common share (excluding certain common shares held by certain members of senior management which have been exchanged for shares in Goliath Acquisition Inc.).
It is expected that the common shares of Softchoice will be delisted from the Toronto Stock Exchange on or about
June 20, 2013
at the closing of the market. Softchoice will also apply to cease to be a reporting issuer under applicable Canadian securities laws.
Beneficial shareholders are not required to take any action in respect of the completion of the Arrangement. The cash to be paid to beneficial shareholders is expected to be credited to the beneficial shareholder's broker, trustee, financial institution, dealer, bank, trust company, custodian, nominee or other intermediary account through the procedures in place for such purposes between CDS and such intermediaries, on or shortly following
June 24, 2013
. Beneficial shareholders should contact their intermediary if they have any questions regarding this process.
In order for a registered shareholder to receive the cash consideration for the common shares, he, she or it must complete, sign, date and return the letter of transmittal to Computershare Investor Services Inc., in accordance with the instructions set out therein that was mailed to all registered shareholders in connection with the Meeting. The letter of transmittal and details regarding the transaction contained in the management information circular of Softchoice dated
May 10, 2013
can be found under Softchoice's profile on SEDAR at
Computershare will make payments to registered shareholders who have already validly deposited their share certificates and duly completed letter of transmittal within thee business days from today.