Fiera Sceptre Inc. (FSZ.TO: Quote) announced that 99.93 per cent of the holders of Class A shares of Fiera voted in favor of a resolution authorizing the issuance of Class A shares to the National Bank, representing 35% of the issued and outstanding shares of Fiera, as well as an option to increase the participation of the Bank to 40%. The amount of the transaction totaled $309.5 million, subject to reduction.
The company noted that a special resolution of shareholders to rename the Company "Fiera Capital Corporation," was also adopted during the meeting.
Fiera stated that it will hold approximately $54 billion in assets under management following the closing of this transaction.
The company said that Jean-Guy Desjardins will continue to serve as Chairman of the Board, CEO and Chief Investment Officer, and will remain the controlling shareholder of Fiera.
The transaction must be approved by regulatory authorities and satisfy other customary conditions. The transaction is scheduled to close on April 2, 2012.
At the annual and special meeting, shareholders elected nine members of the Board of Directors. They are David Shaw, Arthur Scace, Ross Walker , Christiane Bergevin , Denis Berthiaume , Sylvain Brosseau, Jean-Guy Desjardins, Jean Monty and Neil Nisker.
Following the closing of the transaction, the board will consist of twelve directors, as approved by shareholders at the annual and special meeting. The three additional members elected to serve on the board are: Louis Vachon , Luc Paiement and David Pennycook.
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by RTT Staff Writer
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