MONTREAL, QUEBEC – Lumenpulse Inc. (TSX: LMP) (Lumenpulse or the “Company”), the parent company of the Lumenpulse Group, DEL is pleased to announce that its shareholders have approved the previously announced Plan of Arrangement under the Canada Business Corporations Act, which involves the Company and 10191051 Canada Inc. Under this plan of arrangement, a group led by Francois-Xavier Souvay, founder and president and CEO of Lumenpulse, as well as several other current shareholders of the Company and Power Energy Corporation, a wholly-owned subsidiary of Power Corporation of Canada,Will indirectly acquire all of the issued and outstanding common shares of Lumenpulse at a price of $ 21.25 per share per share.
The Plan of Arrangement was approved by 99.9% of the votes cast by the shareholders and by 99.9% of the votes cast by shareholders other than the interested shareholders at the special meeting of shareholders held earlier today .
The Plan of Arrangement is subject to the approval of the Superior Court of Quebec. The final order hearing for the Plan of Arrangement is scheduled to be held on June 20, 2017. Subject to the required approval of the Court, the completion of the transactions contemplated by the Plan of Arrangement is expected to occur on On or about 21 June 2017.
About the Lumenpulse Group
Founded in 2006, the Lumenpulse Group designs, develops, manufactures and sells a wide range of durable, high-performance LED lighting solutions for commercial, institutional and urban environments. The Lumenpulse Group is a leading supplier of LED category lighting solutions and has won several awards and recognitions, including several Product Innovation Awards (PIAs), three Next Generation Lighting Awards, two Red Dot Product Design Award, Lightfair Innovation Award and iF Design Award. The Lumenpulse Group currently has 670 employees worldwide and has a head office in Montreal, Canada and offices in Vancouver, Quebec, Boston, Paris, Florence, London and Manchester. Lumenpulse Inc., the parent company of the Lumenpulse Group, is listed on the Toronto Stock Exchange under the symbol LMP.