Brief: Founders Advantage Capital Intents To Acquire Full Ownership Of Dominion Lending Centres

Dominion Lending Centres

27/09/2018 21:10

Sept 27 (Reuters) - Founders Advantage Capital Corp  FCF.V :
    * FOUNDERS ADVANTAGE CAPITAL CORP. ANNOUNCES LETTER OF
INTENT TO
ACQUIRE FULL OWNERSHIP OF DOMINION LENDING CENTRES; ANNOUNCES
MANAGEMENT CHANGES
    * FOUNDERS ADVANTAGE CAPITAL CORP - DEAL FOR $75.772 MILLION
    * FOUNDERS ADVANTAGE CAPITAL CORP - GARY MAURIS TO BECOME
PRESIDENT AND CHIEF EXECUTIVE OFFICER OF FA CAPITAL
    * FOUNDERS ADVANTAGE CAPITAL CORP - ANTICIPATE THAT
QUARTERLY
DIVIDENDS OF $0.0125 PER SHARE WILL BE MAINTAINED
    * FOUNDERS ADVANTAGE CAPITAL-DEAL TO BE FUNDED THROUGH
COMBINATION
OF 41 MILLION  CLASS "A" SHARES OF CORP WITH EACH SHARE HAVING
DEEMED PRICE OF $1.75/SHARE
    * FOUNDERS ADVANTAGE CAPITAL - CORPORATION'S ACTIONS (BOTH
PRE AND
POST-TRANSACTION) EXPECTED TO REDUCE CORPORATE G&A EXPENSE BY
ABOUT $2.0 MILLION ANNUALLY

Source text for Eikon:  ID:nGNX50g88f 
Further company coverage:  FCF.V 

 (Reuters.Briefs@thomsonreuters.com)