Corel Corp. (CREL, CRE.TO) announced that its shareholders approved stock consolidation. The consolidation represented the final step in the acquisition of Corel by Corel Holdings L.P. Corel is now wholly-owned by Corel Holdings L.P. and its affiliates.
Shareholders other than Corel Holdings, L.P. and its affiliates will receive cash consideration of US$4.00 in respect of each pre-consolidation share held by such holder.
Corel's common shares will be delisted from Nasdaq stock market and the Toronto Stock Exchange promptly following the consolidation, and thereafter Corel will cease to be a reporting issuer under Canadian law and its reporting obligations under U.S. securities laws will be suspended.
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