NOVOHEART HOLDINGS INC. ("NVH")
BULLETIN TYPE: Plan of Arrangement-, Delist
BULLETIN DATE: November 19, 2020
TSX Venture Tier 2 Company
Plan of Arrangement:
The Exchange has approved Novoheart Holdings Inc.'s ("Novoheart") plan of arrangement (the "Plan of Arrangement") pursuant to which Novomed Limited (the "Purchaser"), a company beneficially owned by entities controlled by Prof. Ronald Li, Dr. Yu Ying Ngan Ng, Chi Wing Ngan and Victor Chang, each a director of Novoheart, acquired all of the issued and outstanding common shares of Novoheart ("Novoheart Shares") other than those Novoheart Shares already owned by the Purchaser.
Pursuant to the Plan of Arrangement, Novoheart shareholders receives $0.53 per Novoheart Share (except in the case of shareholders who entered into rollover, voting and support agreements with the Purchaser who agreed to roll over their Novoheart Shares in exchange for shares of the Purchaser).
The Plan of Arrangement was approved by disinterested Novoheart securityholders at a special meeting held on November 10, 2020.
Novoheart received a final order from the Supreme Court of British Columbia, dated November 13, 2020, in connection with the Plan of Arrangement. The Plan of Arrangement is fully described in Novoheart's management information circular dated October 9, 2020. Refer also to the Company's news release dated November 18, 2020.
Delist:
The common shares of Novoheart Holdings Inc. will be delisted from the Exchange. Accordingly, effective at the close of business Friday, November 20, 2020 the common shares of Novoheart Holdings Inc. will be delisted.
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