ZoomerMedia Limited Announces Mailing of Meeting Materials and Receipt of Interim Order in Respect of Going-Private Transaction
Portfolio Pulse from
ZoomerMedia Limited has announced the mailing of meeting materials and receipt of an interim order for a going-private transaction. The special meeting of shareholders is scheduled for November 29, 2024, to approve the arrangement where 16431771 Canada Inc. will acquire all outstanding shares not owned by management and affiliates for $0.08 per share.
November 11, 2024 | 3:00 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
ZoomerMedia Limited is moving forward with a going-private transaction, with a special meeting set for November 29, 2024, to approve the acquisition of all outstanding shares not owned by management and affiliates for $0.08 per share.
The announcement of a going-private transaction typically leads to a short-term increase in stock price as the acquisition price is set at a premium to the current market price. The interim order and mailing of meeting materials indicate progress towards the transaction, which is likely to positively impact the stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100