Lumenpulse Inc., the parent company of the Lumenpulse Group, has announced that its shareholders have approved the statutory plan of arrangement under the provisions of the Canada Business Corporations Act involving the company and 10191051 Canada Inc., pursuant to which a group led by Mr. François-Xavier Souvay, the founder, president and CEO of Lumenpulse, several other existing shareholders of the company and Power Energy Corp., a wholly-owned subsidiary of Power Corp. of Canada, will indirectly acquire all of the issued and outstanding common shares of Lumenpulse for $21.25 per share, in cash.
The plan of arrangement was approved by 99.9 percent of the votes cast by shareholders and by 99.9 percent of the votes cast by shareholders other than interested shareholders at a special meeting held by Lumenpulse.
The plan of arrangement remains subject to the approval of the Superior Court of Québec.