Imaflex has completed the previously announced plan of arrangement under Section 192 of the Canada Business Corporations Act involving Soteria Flexibles AcquireCo, an affiliate of Soteria Flexibles, pursuant to which the purchaser has acquired all the issued and outstanding common shares of Imaflex for CAD$ 2.35 in cash per share, representing approximately CAD $ 123.0 million of equity value of the corporation.
According to Imaflex, the arrangement received strong support from the corporation’s shareholders at a meeting held on 19 February 2026, and the arrangement received final court approval on 20 February 2026.
As a result of the completion of the arrangement, it is expected that the shares will be delisted from the TSX Venture Exchange at the close of business on 3 March 2026. The corporation will apply to cease to be a reporting issuer under Canadian securities laws in the provinces of Alberta, British Columbia and Québec.
Consideration for the shares has been remitted by the purchaser to Computershare Investor Services Inc. (the “depositary”), as depositary under the arrangement. In order to receive the consideration pursuant to the arrangement, registered shareholders must properly complete and duly execute a letter of transmittal, and deliver such properly completed and duly executed letter of transmittal and the other documents required by it, including the certificate(s) and/or DRS Advice(s) representing their shares, to the depositary. A letter of transmittal was previously mailed to all registered shareholders and has been filed under Imaflex’s issuer profile at www.sedarplus.ca. Shareholders of Imaflex who hold their shares through a broker or other intermediary must contact such broker or intermediary for instructions and assistance in receiving the consideration, Imaflex said in a press release.
Early warning reporting
Imaflex said, immediately prior to the effective date of the arrangement, the purchaser and its affiliates did not own any shares. An early warning report will be filed on SEDAR+ at www.sedarplus.ca under the corporation’s profile.
