TMX Group Inc. Obtains Court Approval for Arrangement
TORONTO, Sept. 13, 2012 /CNW/ - TMX Group Inc. today announced that it has obtained a final order from the Ontario Superior Court of Justice approving the previously announced arrangement (the "Arrangement") under the Business Corporations Act (Ontario) involving TMX Group Inc. and TMX Group Limited (formerly Maple Group Acquisition Corporation). Under the Arrangement, TMX Group Limited will acquire all of the outstanding common shares of TMX Group Inc. (other than common shares held by TMX Group Limited) in exchange for common shares of TMX Group Limited on a one-for-one basis. It is expected that the Arrangement will close on or about September 14, 2012, following the satisfaction of customary conditions.
Following completion of the Arrangement, it is anticipated that the TMX Group Limited shares will be listed on the Toronto Stock Exchange, the TMX Group Inc. shares will be delisted from Toronto Stock Exchange and TMX Group Inc. will cease to be a reporting issuer.
Caution Regarding Forward-Looking Information
This press release contains "forward looking information" (as defined in applicable Canadian securities legislation) that is based on expectations, estimates and projections as of the date of this press release. Examples of forward-looking information can be identified by the use of forward-looking words such as "plans", "expects", and "expected". Forward looking information, by its nature, requires us to make assumptions and is subject to significant risks and uncertainties which may give rise to the possibility that our expectations or conclusions will not prove to be accurate and that our assumptions may not be correct. These factors, many of which are beyond our control, include: market competition; business and economic conditions generally; the level of trading and activity on our markets, and in particular trading in our key products. Additional information about these and other factors are located in reports filed with Canadian securities regulators.
We have no intention to update this forward-looking information, except as required by applicable securities law. This forward-looking information should not be relied upon as representing our views as of any date subsequent to the date of this press release.
About TMX Group Limited (formerly Maple Group Acquisition Corporation)
On August 10, 2012, Maple Group Acquisition Corporation completed its acquisition of 80% of the TMX Group Inc. shares pursuant to the Maple offer and was renamed TMX Group Limited.
TMX Group Limited completed the acquisitions of each of The Canadian Depository for Securities Limited ("CDS") and of Alpha Trading Systems Inc. and Alpha Trading Systems Limited Partnership (collectively, "Alpha") on August 1, 2012. As a result of these acquisitions, CDS and Alpha have become wholly-owned subsidiaries of TMX Group Limited.
TMX Group Limited has received conditional approval to list its shares on Toronto Stock Exchange following completion of the arrangement. Listing of the TMX Group Limited shares on Toronto Stock Exchange is subject to the satisfaction of the applicable conditions on or before October 2, 2012.
TMX Group's key subsidiaries operate cash and derivative markets for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Exchange, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, Boston Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montreal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup.
SOURCE: TMX GROUP INC.
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