Park Lawn Announces Shareholder Approval of Going Private Transaction

Park Lawn Corporation (TSX:PLC)(TSX:PLC.U) has announced that its shareholders have approved the proposed plan of arrangement with Viridian Acquisition Inc. At a special meeting, 99.75% of the votes cast were in favor of the transaction, surpassing the required two-thirds majority.

The arrangement involves Viridian Acquisition Inc., a subsidiary of Viridian Holdings LP, acquiring all outstanding shares of Park Lawn for $26.50 per share. The final order from the Ontario Superior Court of Justice and other customary closing conditions still need to be satisfied for the transaction to become effective, anticipated around August 9, 2024.

Post-completion, Park Lawn’s shares and senior unsecured debentures are expected to be delisted from the Toronto Stock Exchange within two to three business days. Additional details are available in Park Lawn’s management information circular dated June 27, 2024, on SEDAR+.