TORONTO, Feb. 14, 2020 /PRNewswire/ – VersaPay Company (TSXV: VPY) (the “Firm” or “VersaPay“), a number one supplier of cloud-based invoice-to-cash options together with digital bill presentment and fee, automated accounts receivable, money utility and collections administration, is happy to announce that at a particular assembly of its shareholders (the “Assembly“) held at present, its shareholders (“Shareholders“) overwhelmingly authorized the proposed acquisition by 1233518 B.C. Ltd., an affiliate of Nice Hill Companions, of all the issued and excellent frequent shares of the Firm (“VersaPay Shares“) by means of a statutory plan of association beneath the Canada Enterprise Companies Act (the “Association“). Pursuant to the Association, every Shareholder will obtain money consideration of C$2.70 for every VersaPay Share held.
Of the votes solid on the Assembly, a complete of 25,221,117 VersaPay Shares had been voted in favour of the Association, representing roughly 99.90% of the votes solid on the particular decision approving the Association. As well as, a complete of 24,315,917 VersaPay Shares, representing roughly 99.89% of the votes solid on the particular decision approving the Association, excluding votes solid by Shareholders whose votes had been required to be excluded pursuant to MI 61-101 – Safety of Minority Shareholders in Particular Transactions, had been voted in favour of the Association. The Shareholders who participated within the vote represented roughly 57.39% and 55.33%, respectively, of all issued and excellent VersaPay Shares entitled to vote on the particular decision approving the Association.
VersaPay intends to hunt a ultimate order of the Ontario Superior Court docket of Justice (Industrial Listing) to approve the proposed Association at a listening to anticipated to be held on February 20, 2020. If the opposite situations to the Association changing into efficient are happy or waived, it’s anticipated that the Association might be accomplished on or about February 21, 2020.
Following closing of the Association, the VersaPay Shares might be delisted from the TSX Enterprise Change (“TSXV“).
Additional particulars relating to the Association are set out within the administration info round of VersaPay dated January 15, 2020 (the “Round“), which is on the market at www.versapay.com or beneath the Firm’s profile on SEDAR at www.sedar.com.
About Nice Hill
Nice Hill Companions is a Boston-based non-public fairness agency focusing on investments of US$25 million to US$500 million in high-growth corporations throughout the patron, digital infrastructure, monetary know-how, healthcare, and software program sectors. Over the previous 20 years, Nice Hill has raised almost $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 info, 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 sooner, streamline monetary operations, and dramatically cut back DSO and prices. VersaPay ARC is the primary platform to offer Buyer-Centric AR™ 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 collection of highly effective instruments that allow environment friendly collections, money utility and real-time perception into accounts receivable. VersaPay ARC routinely reconciles funds and account info via integrations with a variety of ERPs and accounting software program suppliers.
Extra details about VersaPay is on the market at www.versapay.com or beneath the Firm’s profile on SEDAR at www.sedar.com.
FORWARD LOOKING INFORMATION
This press launch comprises “forward-looking info” which can embrace, however isn’t restricted to, statements with respect to the completion of the Association, together with anticipated timing. Typically, forward-looking info might be recognized by way 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”, “may”, “would”, “ought to”, “would possibly” or “will”, “happen” or “be achieved” or the destructive connotation thereof.
Ahead-looking info is predicated upon sure assumptions and different necessary components that, if unfaithful or incorrect, may trigger the precise outcomes, efficiency or achievements of the Firm to be materially completely different from future outcomes, efficiency or achievements expressed or implied by such info. Readers mustn’t place undue reliance on ahead–wanting info. Elements that would trigger precise outcomes to vary materially from any ahead–wanting info embrace, however will not be restricted to, the chance that the Association won’t be accomplished on the phrases and situations, or on the timing, presently contemplated, and that it will not be accomplished in any respect, because of a failure to acquire or fulfill, in a well timed method or in any other case, court docket approvals and different situations of closing vital to finish the Association or for different causes, the potential of adversarial 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 for a dialogue of among the components and dangers underlying ahead–wanting info. All the ahead–wanting info on this information launch is certified by these cautionary statements and are made as of the date hereof. The Firm assumes no accountability to replace them or revise them to replicate new occasions or circumstances aside from as required by regulation.
Neither the TSXV nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSXV) accepts accountability for the adequacy or accuracy of this launch.
SOURCE VersaPay Company