Softchoice Shareholders Approve Acquisition by World Wide Technology
TORONTO, March 1, 2025 – Softchoice Corporation (TSX:SFTC) announced today that shareholders have approved the previously announced plan of arrangement for World Wide Technology Holding Co., LLC (WWT) to acquire all outstanding shares of Softchoice.
At a special meeting held earlier today, shareholders voted overwhelmingly in favor of the arrangement, which will see WWT, through its affiliate 2672989 Alberta ULC, purchase all Softchoice shares at a price of $24.50 per share in cash.
The arrangement resolution required approval from two-thirds of the votes cast by shareholders present virtually or by proxy. Additionally, a simple majority of votes, excluding those attached to shares held by Vincent De Palma, Executive Chair of the Board, and Andrew Caprara, President and Chief Executive Officer, was needed to pass the resolution, in accordance with Multilateral Instrument 61-101.
A total of 55,532,409 votes were cast, representing 92.04% of the votes attached to outstanding shares as of the January 27, 2025 record date. Excluding votes subject to MI 61-101, the total represented 91.72% of the votes.
Voting Results
Detailed voting results for the arrangement resolution are as follows:
Full voting results will be available on SEDAR+ at www.sedarplus.ca.
Anticipated Closing
The arrangement remains subject to customary closing conditions, including final court approval by the Ontario Superior Court of Justice (Commercial List) at a hearing scheduled for March 6, 2025.
If court approval is granted and other conditions are met or waived, the arrangement is expected to be completed on or about March 13, 2025.
Depositary Questions
Shareholders with questions regarding submitting their shares in connection with the arrangement should contact TSX Trust Company at 1-866-600-5869 (toll-free within North America), 1-416-342-1091 (outside North America), or via email at tsxtis@tmx.com.
About Softchoice Corporation
Softchoice Corporation (TSX: SFTC) is an IT solutions provider. They focus on equipping organizations with secure, AI-powered cloud and digital workplace solutions. They aim to enable agility, innovation, and security for organizations, as well as engagement, connection, and creativity for people at work.
Forward-Looking Information
This press release includes forward-looking information. These statements involve risks and uncertainties that could cause actual results to differ. Such risks include the failure to obtain court approval for the acquisition, or failure to satisfy other closing conditions. Full details of potential risks are available under “Risk Factors” of the Company’s management information circular relating to the Meeting filed on SEDAR+.
