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Tim Hortons to reorganize as Canadian public company
June 28, 2009
OAKVILLE, Ontario — Tim Hortons Inc. has announced the company has filed with the U.S. Securities and Exchange Commission for the company's proposed reorganization as a Canadian public company.
The proposed reorganization will involve the company's merger with a newly formed subsidiaryincorporated under the Canada Business Corporations Act, also named Tim Hortons Inc (new THI). Under theterms of the proposed merger agreement among the company, at the effective time of the merger each share of common stock will be converted into one common share of new THI.
The reorganization and the merger are subject to various closing conditions, including stockholder approval and the board of directors' right in its sole discretion to defer or abandon the reorganization. Itdoes not in any way affect the company's commitment to growing its business in the United States or our underlying operations,as previously outlined.
Following the reorganization, Tim Hortons intends to maintain dual listings on both the New York Stock Exchange and Toronto Stock Exchange.
A special meeting of stockholders is planned on or about Sept. 22 in Oakville, Ontario, to vote on the merger agreement outlined in theregistration statement.
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