DEQ Systems Corp. confirmed that its shareholders have approved a special resolution authorizing the previously announced plan of arrangement pursuant to which SG Canada Acquisitions, Inc., a wholly-owned subsidiary of Scientific Games Corporation, will acquire all of the outstanding common shares in the capital of DEQ for a cash payment of CDN>DEQ Systems Corp. confirmed that its shareholders have approved a special resolution authorizing the previously announced plan of arrangement pursuant to which SG Canada Acquisitions, Inc., a wholly-owned subsidiary of Scientific Games Corporation, will acquire all of the outstanding common shares in the capital of DEQ for a cash payment of CDN$0.38 per common share of DEQ.<.38 per common share of DEQ.
The special resolution, which required the approval of at least two-thirds of the votes cast by shareholders, was approved by 96.49% of the votes cast by shareholders.
The plan of arrangement is also subject to the approval of the Superior Court of Québec (Commercial Division) at a final hearing which was scheduled to be held on November 10, 2016 in Montreal, Quebec at 9:00 a.m. (EST) or as soon thereafter as counsel may be heard. It is anticipated that the arrangement transaction will be completed in the fourth quarter of 2016 or the first quarter of 2017 following the satisfaction or waiver of all the conditions of closing, including among other things, receipt of the Court’s approval.
