TORONTO, Feb. 3, 2020 /PRNewswire/ – VersaPay Company (TSXV: VPY) (the “Firm” or “VersaPay“), is happy to announce that Glass Lewis & Co. LLC (“Glass Lewis“), a number one impartial proxy advisory agency, has really useful that shareholders of VersaPay (the “Shareholders“) vote FOR the proposed acquisition by 1233518 B.C. Ltd., an affiliate of Nice Hill Companions, of the entire issued and excellent widespread shares of the Firm (“VersaPay Shares“) by means of a statutory plan of association below the Canada Enterprise Firms Act (the “Association“) for consideration of $2.70 for every VersaPay Share held.
In making its suggestion that Shareholders vote FOR the Association, Glass Lewis said: “Given the Firm’s capital restraints and contemplating that the board seems to have adequately thought of the Firm’s strategic and transaction alternate options, finally arriving at a proposed transaction that gives shareholders with sure worth and liquidity for his or her shares at a major premium, we imagine shareholders have greater than enough trigger to approve the proposed association as the perfect path to maximise the worth of their shares at the moment. Primarily based on these components, together with the help of the board, we imagine the proposed acquisition is in the perfect pursuits of shareholders.“
Glass Lewis’ endorsement follows a report by Institutional Shareholder Companies Inc. (“ISS“), additionally a number one impartial proxy advisor agency, that really useful Shareholders vote FOR the Association. VersaPay disclosed ISS’ suggestion in a press launch dated January 29, 2020.
Your vote is vital whatever the variety of VersaPay Shares you personal. As a Shareholder, it is rather vital that you simply rigorously learn the administration data round dated January 15, 2020 (the “Round“) and associated supplies with respect to the particular assembly of Shareholders (the “Assembly“) after which vote your VersaPay Shares. You’re eligible to vote your VersaPay Shares in case you have been a Shareholder of document on the shut of enterprise on January 8, 2020.
HOW TO VOTE
Shareholders are inspired to vote as we speak utilizing the web or phone.
Registered Shareholders could vote by:
Non-registered Shareholders could vote by:
Shareholders who maintain VersaPay Shares by way of a financial institution, dealer or different middleman can have totally different voting directions and may rigorously observe the voting directions offered to them. Generally, non-registered Shareholders will obtain a voting instruction kind as a part of the assembly supplies. A non-registered Shareholder can full the voting instruction kind by: (i) calling the cellphone quantity listed thereon, or (ii)by way of the Web at www.proxyvote.com.
YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAY
The Assembly will probably be held on Friday, February 14, 2020 at 10:00 a.m. (Toronto Time), on the workplaces of Cassels Brock & Blackwell LLP, Suite 2100, Scotia Plaza, 40 King Avenue West, Toronto, Ontario.
Shareholder Questions and Help
In case you have any questions or require help voting your VersaPay Shares, please contact our proxy solicitation agent, Laurel Hill Advisory Group, at 1-877-452-7184 toll-free in North America, or exterior North America at +1 416 304-0211, or by e-mail at [email protected]
About Nice Hill Companions
Nice Hill Companions is a Boston-based personal fairness agency focusing on investments of US$25 million to US$500 million in high-growth corporations throughout the patron, digital infrastructure, monetary expertise, healthcare, and software program sectors. Over the previous 20 years, Nice Hill has raised almost US$Eight billion of commitments and invested in additional than 75 corporations, establishing an intensive monitor document of constructing long-term partnerships with entrepreneurs and offering versatile sources to assist middle-market corporations scale. For extra data, go to www.greathillpartners.com.
About VersaPay Company
VersaPay is a Fintech firm and main supplier of cloud-based invoice-to-cash options, enabling companies to offer a superior buyer expertise, receives a commission quicker, streamline monetary operations, and dramatically scale back DSO and prices. VersaPay ARC is the primary platform to offer Buyer-Centric ARTM with a buyer self-service surroundings to view invoices on-line, collaborate on inquiries and disputes, and facilitate safe on-line funds (EFT/ACH and bank card). Companies achieve entry to a set of highly effective instruments that allow environment friendly collections, money software and real-time perception into accounts receivable. VersaPay ARC mechanically reconciles funds and account data by way of integrations with a variety of ERPs and accounting software program suppliers.
Extra details about VersaPay is on the market at www.versapay.com or below the Firm’s profile on SEDAR at www.sedar.com.
Ahead Trying and Different Cautionary Statements
This press launch comprises “forward-looking data” which can embody, however shouldn’t be restricted to, statements with respect to the Assembly and the completion of the Association, together with anticipated timing, and statements with respect to the anticipated advantages of the Association to VersaPay and the Shareholders. Usually, forward-looking data may be recognized by means of terminology comparable to “anticipates”, “believes”, “expects”, “plans”, “intends”, “estimates”, “schedules”, “forecasts”, “budgets”, “proposes”, or variations or comparable language of such phrases and phrases or statements that sure actions, occasions or outcomes “could”, “might”, “would”, “ought to”, “would possibly” or “will”, “happen” or “be achieved” or the unfavourable connotation thereof.
Ahead-looking data relies upon sure assumptions and different vital components that, if unfaithful or incorrect, might trigger the precise outcomes, efficiency or achievements of the Firm to be materially totally different from future outcomes, efficiency or achievements expressed or implied by such data. Readers shouldn’t place undue reliance on ahead–trying data. Elements that would trigger precise outcomes to vary materially from any ahead–trying data embody, however should not restricted to, the chance that the Association won’t be accomplished on the phrases and circumstances, or on the timing, presently contemplated, and that it is probably not accomplished in any respect, as a consequence of a failure to acquire or fulfill, in a well timed method or in any other case, required Shareholder and court docket approvals and different circumstances of closing essential to finish the Association or for different causes, the potential for opposed reactions or modifications in enterprise relationships ensuing from the announcement or completion of the Association, and modifications in fairness markets. Particular reference is made to the “Threat Elements” part of the Round which is on the market on SEDAR at www.sedar.com for a dialogue of a few of the components and dangers underlying ahead–trying data. All the ahead–trying data on this information launch is certified by these cautionary statements and are made as of the date hereof. The Firm assumes no duty to replace them or revise them to replicate new occasions or circumstances apart from as required by regulation.
Neither the TSXV nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSXV) accepts duty for the adequacy or accuracy of this launch.
SOURCE VersaPay Company