MONTREAL, QUEBEC--(Marketwired - Dec. 2, 2013) - GENIVAR Inc. (TSX:GNV) ("GENIVAR" or the "Company") is pleased to announce that its corporate reorganization pursuant to a court-approved plan of arrangement (the "Arrangement") will be effective on January 1, 2014. The Arrangement, which was approved by the Company's shareholders at the Annual and Special Meeting of Shareholders held on May 23, 2013 and which received final approval of the Superior Court of Québec on May 27, 2013, will result in the reorganization of the Company into a global company structure whereby a newly created company to be named WSP Global Inc. ("WSP Global") will replace GENIVAR as the publicly traded company. Pursuant to the Arrangement, current shareholders of the Company will become shareholders of WSP Global as of the effective date.
The Company also reminds shareholders that the Board of GENIVAR declared a dividend of $0.375 per share on November 6, 2013. This dividend will be payable on or about January 15, 2014, to shareholders of record at the close of business on December 31, 2013. Participants in the GENIVAR dividend reinvestment plan will be deemed to be participants in the WSP Global dividend reinvestment plan as of the effective date without any further action on their part. Dividends declared and paid to a deemed participant in the WSP Global dividend reinvestment plan, including the dividend payable on or about January 15, 2014, will be automatically applied to the purchase of common shares of WSP Global.
Subject to fulfilling the requirements of the Toronto Stock Exchange ("TSX"), the common shares of WSP Global will be listed under the trading symbol "WSP" on the TSX and the common shares of GENIVAR will be delisted following the effective date.
Additional details regarding the reorganization can be found in the Company's news releases dated April 17, 2013 and May 23 and 27, 2013 as well as the Company's Management Information Circular dated April 24, 2013, which is available on SEDAR at www.sedar.com.
The Company, through its combination with WSP, is one of the world's leading professional services firms, working with governments, businesses, architects and planners and providing integrated solutions across many disciplines. The firm provides services to transform the built environment and restore the natural environment, and its expertise ranges from environmental remediation to urban planning, from engineering iconic buildings to designing sustainable transport networks, and from developing the energy sources of the future to enabling new ways of extracting essential resources. It has approximately 15,000 employees, mainly engineers, technicians, scientists and architects, as well as various environmental experts, based in more than 300 offices, across 35 countries, on every continent. www.genivar.com