Shaw Announces Court of Queen’s Bench Approval of the Plan of Arrangement for the Proposed Business Combination With Rogers...
May 25 2021 - 5:15PM
Shaw Communications Inc. (“Shaw”) is pleased to announce the Court
of Queen’s Bench of Alberta has issued a final order approving the
previously announced plan of arrangement (the “Arrangement”) for
the proposed business combination with Rogers Communications Inc.
(“Rogers”).
The Arrangement remains subject to other
customary closing conditions including approvals from several
Canadian regulators. Shaw and Rogers intend to work cooperatively
and constructively with the Competition Bureau, Innovation, Science
and Economic Development Canada and the Canadian Radio-television
and Telecommunications Commission in order to secure the requisite
approvals. Subject to receipt of all required approvals and
satisfaction of all closing conditions, the Arrangement is expected
to be completed in the first half of 2022.
Contact Details
Investment community contact:
Shaw Investor
Relationsinvestor.relations@sjrb.ca
Media contact:
Chethan Lakshman, VP, External
Affairschethan.lakshman@sjrb.ca(403) 930-8448
Cautionary Statement
This news release includes “forward-looking
information” within the meaning of applicable securities laws
relating to, among other things, the timing and anticipated receipt
of required regulatory or other approvals, the ability of the
parties to satisfy the other conditions to the closing of the
Arrangement and the anticipated timing for closing of the
Arrangement. Forward-looking information may in some cases be
identified by words such as “will”, “anticipates”, “expects”,
“intends” and similar expressions suggesting future events or
future performance.
We caution that all forward-looking information
is inherently subject to change and uncertainty and that actual
results may differ materially from those expressed or implied by
the forward-looking information. A number of risks, uncertainties
and other factors could cause actual results and events to differ
materially from those expressed or implied in the forward-looking
information or could cause our current objectives, strategies and
intentions to change. Accordingly, we warn investors to exercise
caution when considering statements containing forward-looking
information and that it would be unreasonable to rely on such
statements as creating legal rights regarding our future results or
plans. We cannot guarantee that any forward-looking information
will materialize and you are cautioned not to place undue reliance
on this forward-looking information. Any forward-looking
information contained in this news release represent expectations
as of the date of this news release and are subject to change after
such date. However, we are under no obligation (and we expressly
disclaim any such obligation) to update or alter any statements
containing forward-looking information, the factors or assumptions
underlying them, whether as a result of new information, future
events or otherwise, except as required by law. All of the
forward-looking information in this news release is qualified by
the cautionary statements herein.Forward-looking information is
provided herein for the purpose of giving information about the
proposed transaction referred to above and its expected impact.
Readers are cautioned that such information may not be appropriate
for other purposes. The completion of the above-mentioned proposed
Arrangement is subject to customary closing conditions, termination
rights and other risks and uncertainties including, without
limitation, regulatory approvals. Accordingly, there can be no
assurance that the proposed transaction will occur, or that it will
occur on the terms and conditions contemplated in this news
release. The proposed transaction could be modified, restructured
or terminated. In addition, if the transaction is not completed,
and Shaw continues as an independent entity, there are risks that
the announcement of the transaction and the dedication of
substantial resources by Shaw to the completion of the transaction
could have an impact on Shaw’s current business relationships
(including with future and prospective employees, customers,
distributors, suppliers and partners) and could have a material
adverse effect on the current and future operations, financial
condition and prospects of Shaw.A comprehensive discussion of other
risks that impact Shaw can also be found in its public reports and
filings which are available under its profile on SEDAR at
www.sedar.com.
About Shaw Communications
Inc.
Shaw Communications Inc. is a leading Canadian
connectivity company. The Wireline division consists of Consumer
and Business services. Consumer serves residential customers with
broadband Internet, Shaw Go WiFi, video and digital phone. Business
provides business customers with Internet, data, WiFi, digital
phone, and video services. The Wireless division provides wireless
voice and LTE data services.
Shaw is traded on the Toronto and New York stock
exchanges and is included in the S&P/TSX 60 Index (Symbol: TSX
– SJR.B, SJR.PR.A, SJR.PR.B, NYSE – SJR, and TSXV – SJR.A). For
more information, please visit www.shaw.ca.
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