Urbana Corporation
TSX : URB
TSX : URB.A
TSX : URB.WT
TSX : URB.WT.A

Urbana Corporation

November 29, 2007 16:35 ET

Urbana Corporation Announces Results of Special Meeting to Approve Purchase of NYSE Euronext Shares for Shares of Urbana

TORONTO, ONTARIO--(Marketwire - Nov. 29, 2007) -

NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Urbana Corporation ("Urbana") (TSX:URB)(TSX:URB.A)(TSX:URB.WT)(TSX:URB.WT.A) is pleased to announce that it has received shareholder approval for a previously announced purchase of approximately 1,244,606 common shares of NYSE Euronext ("NYX Shares") from certain vendor-funds, namely, Caldwell New York Limited Partnership, Caldwell New York LP II and Caldwell New York LP IV (the "Caldwell LPs") (the "Proposed Transaction").

Majority of minority approval was required for each of Urbana's common shares and Non-Voting Class A shares. Minority shareholders for each class voted in excess of 99% in favour of the Proposed Transaction. Approximately 444,810 of the NYX Shares to be acquired are subject to transfer restrictions until the earlier of March 7, 2009 or such time as NYSE Euronext removes the trading restrictions. As consideration for the Proposed Transaction, on closing, Urbana will issue approximately 23,802,337 Non-Voting Class A Shares of Urbana ("Urbana Non-Voting Shares") to the Caldwell LPs from treasury, approximately 7,867,597 of which will be subject to trading restrictions which are scheduled to end in March 2009.

If all remaining conditions of closing are met, the Proposed Transaction is expected to close on or about November 30, 2007. It is expected that the Caldwell LPs will be dissolved on or about December 3, 2007 with the Urbana Non-Voting Class A Shares being distributed to the limited partners at the time of dissolution.

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Urbana to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There is no assurance that the Proposed Transaction will close or that if it does, it will be accretive to Urbana on closing or a profitable investment for Urbana over the short or long-term. Unless required by applicable securities law, Urbana does not assume any obligation to update these forward-looking statements.

Contact Information

  • Urbana Corporation
    Elizabeth Naumovski
    Investor Relations
    (416) 595-9106
    Website: www.urbanacorp.com