Examples of Norbord Shares in a sentence
The Norbord Shares are listed on, and Norbord is in compliance, in all material respects, with the rules and policies of, the TSX and NYSE.
As of the close of business on November 17, 2020, there were issued and outstanding 80,653,875 Norbord Shares and no Class A preferred shares, Class B preferred shares or non-voting participating shares.
The Norbord Shares are registered under Section 12 of the U.S. Exchange Act and Norbord is in material compliance with its reporting obligations pursuant to Section 13 of the U.S. Exchange Act as a “foreign private issuer”, as defined by Rule 3b-4 of the U.S. Exchange Act.
West Fraser has also entered into voting agreements with all of the Norbord directors and Norbord Executives, pursuant to which such directors and Norbord Executives have agreed, subject to the terms and conditions of their respective voting agreements, to vote their Norbord Shares in favour of the Arrangement Resolution.
Norbord and West Fraser have entered into a voting agreement with Brookfield pursuant to which Brookfield has agreed, among other things and subject to the terms of the Brookfield Voting and Support Agreement, to vote its Norbord Shares in favour of the Arrangement Resolution.
Norbord Shareholders are being asked to vote on a special resolution to approve the acquisition of Norbord by West Fraser by way of a plan of arrangement under Section 192 of the CBCA pursuant to which West Fraser will acquire all of the outstanding Norbord Shares.
In aggregate, West Fraser acquired all of the issued and outstanding Norbord Shares in exchange for the issuance of 54,484,188 West Fraser Shares.
The Consideration offered pursuant to the Arrangement represents a premium of approximately (i) 13.6% based on the closing price of Norbord Shares on the TSX on November 18, 2020, the last trading day preceding the announcement of the Arrangement, and (ii) 8.0% based on the volume weighted average price of both West Fraser Shares and Norbord Shares on the TSX for the 10 trading days ended November 18, 2020.
Norbord Shareholders whose Norbord Shares are registered in the name of a broker, investment dealer, bank, trust company or other intermediary should contact that intermediary for instructions and assistance in depositing those Norbord Shares.
Under the terms of the Arrangement, the holders of Norbord Shares received 0.675 of a common share of the Company (the “West Fraser Shares”) for each Norbord Share held.