Brief: GMP Capital Enters Into Definitive Agreement To Consolidate Ownership Of Richardson GMP

RF Capital

13/08/2020 14:15

Aug 13 (Reuters) - GMP Capital Inc  GMP.TO :
    * GMP CAPITAL ENTERS INTO DEFINITIVE AGREEMENT TO
CONSOLIDATE
OWNERSHIP OF RICHARDSON GMP
    * GMP CAPITAL INC -  WILL ACQUIRE SHARES OF RICHARDSON GMP
THAT
ARE NOT OWNED BY CO BASED ON AN ENTERPRISE VALUE FOR RGMP OF
$420 MILLION
    * GMP CAPITAL INC - WILL PAY A SPECIAL DIVIDEND OF $11.3
MILLION
OR 15 CENTS PER COMMON SHARE TO PRE-CLOSING GMP SHAREHOLDERS
    * GMP - INTENDS TO RESUME PAYING QUARTERLY DIVIDEND ON ITS
OUTSTANDING SERIES B AND SERIES C PREFERRED SHARES FOLLOWING
ANNUAL AND SPECIAL MEETING
    * GMP CAPITAL INC - RICHARDSON FINANCIAL AGREES NOT TO HAVE
ITS
$32 MILLION PREFERRED SHARE OWNERSHIP IN RGMP REDEEMED FOR CASH
ON CLOSING
    * GMP CAPITAL INC -  WILL ACQUIRE SHARES OF RICHARDSON GMP
NOT
OWNED BY CO FOR 1.875 COMMON SHARES PER COMMON SHARE OF RGMP

Source text for Eikon:  ID:nCNWDrN92a 
Further company coverage:  GMP.TO 

 ((Reuters.Briefs@thomsonreuters.com;))