Redishred Shareholders Approve Acquisition by VRC Companies

Redishred Capital Corp., a company known for its document destruction and recycling services, announced the approval of a plan of arrangement with VRC Companies, LLC. This agreement entails the acquisition of all outstanding common shares of Redishred by a subsidiary of VRC for CA$5.00 per share in an all-cash transaction.

The approval occurred during a special shareholder meeting, garnering 99.16% of votes in favor. The plan's completion still requires court approval and other conditions. The final court hearing is slated for February 3, 2025. Upon completion, Redishred shares will no longer be listed on the TSX Venture Exchange.

Shareholders are advised to submit required documents to receive payments, while beneficial holders need no further action. The company expects the closure within the first quarter of 2025.