IAM Group: Integrated Asset Management Obtains Interim Order for Plan of Arrangement

TORONTO, May 07, 2019 (GLOBE NEWSWIRE) -- Integrated Asset Management Corp. ("IAM") (TSX:IAM) announced today that it has obtained an interim order from the Ontario Superior Court of Justice (Commercial List) (the "Interim Order") in connection with its previously announced statutory plan of arrangement under the Business Corporations Act (Ontario) pursuant to which Fiera Capital Corporation ("Fiera Capital") (TSX:FSZ) will acquire all of the outstanding common shares of IAM (the "Transaction").The Interim Order authorizes, among other things, IAM to call, hold and conduct a special meeting of holders of its common shares ("IAM Shareholders") to consider, and if thought advisable, approve the Transaction (the "Meeting"). In accordance with the Interim Order, the Meeting will be held on June 14, 2019 at 4:00 p.m. (Toronto time) at The Toronto Region Board of Trade in the Ridout Room, 3rd Floor, 1 First Canadian Place, Toronto, Ontario. The record date for determining the IAM Shareholders entitled to receive notice of, and to vote at, the Meeting is the close of business on May 14, 2019.In addition to IAM shareholder and court approvals, the closing of the Transaction is subject to regulatory approvals, IAM's adjusted cash balance as calculated under the arrangement agreement dated March 21, 2019 between IAM and Fiera Capital being at least $10 million at the effective date and closing conditions customary in transactions of this nature, including approval by the Toronto Stock Exchange for the listing of Fiera Capital shares to be issued. Assuming these conditions are satisfied or waived, the Transaction is expected to close in the second quarter of calendar year 2019.Further information regarding the Transaction is available in IAM's news release dated March 22, 2019 (and related material change report), copies of which are available on SEDAR, and will be contained in a management information circular that IAM will prepare, file on SEDAR at Full story available on Benzinga.com