Symbility Solutions Inc., a global software company focused on modernizing the insurance industry, announced that at a special meeting of security holders, Symbility security holders voted in favor of the proposed transaction pursuant to which CoreLogic, Inc. (“CoreLogic”) will acquire, through a wholly-owned subsidiary, all of the issued and outstanding common shares of Symbility by way of plan of arrangement under Section 193 of the Business Corporations Act (Alberta) (the “Arrangement”). The Arrangement was approved by the Symbility securityholders eligible to vote at the Meeting as follows:
In respect of all votes cast by shareholders and optionholders voting together as a single class, the Arrangement was approved by 99.5 percent of the total votes cast;
In respect of all votes cast by shareholders only, the Arrangement was approved by 99.6 percent of the total votes cast; and
In respect of all votes cast by shareholders of Symbility other than those required to be excluded by law, the Arrangement was approved by 99.2 percent of the total votes cast.
Completion of the Arrangement remains conditional on approval by the Court of Queen’s Bench of Alberta, the TSX Venture Exchange and certain other closing conditions customary in transactions of this nature. Subject to obtaining such court approval, and the satisfaction or waiver of all other conditions precedent to the Arrangement, it is anticipated that the Arrangement will be completed before year-end.
Symbility has established itself as a partner that puts security, efficiency and customer experience first. Symbility PROPERTY brings smarter thinking to property insurance. The company’s strategic services team, Symbility INTERSECT empowers a variety of businesses with smarter mobile and IoT product development strategy, design thinking and engineering excellence.