IBEX shareholders approve sale of company
by CM Staff
BBI will acquire all of the issued and outstanding shares of IBEX at a price of $1.45 per share in cash. The total consideration is approximately $37.9 million.
MONTRÉAL — IBEX Technologies Inc. announces that at an annual and special meeting, IBEX shareholders approved the previously-announced proposed amalgamation of IBEX and 15720273 Canada Inc., a newly-incorporated wholly-owned subsidiary of BBI Solutions OEM Limited, whereby BBI will acquire all of the issued and outstanding shares of IBEX at a price of $1.45 per share in cash. The total consideration is approximately $37.9 million.
The Amalgamation was approved by IBEX shareholders with a positive vote of approximately 99.83% of the shares voted and by a positive vote of approximately 99.80% of the “minority” shares voted as required by applicable securities regulations. More than 75% of IBEX’s outstanding shares as of the record date were voted at the meeting.
Closing of the Amalgamation is expected to take place on April 8, 2024. IBEX first announced the transaction with BBI on February 9, 2024.
Fasken Martineau DuMoulin LLP is acting as legal counsel to IBEX in connection with the Amalgamation.
IBEX Technologies Inc. manufactures enzyme reagents for international diagnostic companies on a contract manufacturing basis.
