Vengrowth Covington Proposal Cancelled
Vengrowth recently issued a package of information (63 pages), then a second Proxy vote, through the mail to all shareholders regarding a proposal by Covington to purchase the Vengrowth shares. Our office contacted you to discuss the options that were made available under the presumption that the vote would be favourable and the merger would go through. While there was a great deal of paperwork that needed to be signed and returned to our office, unfortunately, the paperwork will not be used.
Covington has since removed the offer due to concerns that they would not receive regulatory approval, so the paperwork that you signed is no longer valid. Because of the cancellation of the merger, all Vengrowth shares are again temporarily frozen pending other offers.
Please accept our sincere apologies for the inconvenience you have been put through for the merger and thank you for your patience under the circumstances. Please know that we understand your frustration.
There will likely be new offers coming. Should this come to fruition, please be assured that we will contact you directly to discuss the options that have been made available to you.
Below is the link to a Globe and Mail article regarding the cancellation of the Covington-Vengrowth Merger.