Press Releases

  • Thursday, July 12, 2012
    Genivar announces WSP Group shareholders' approval of acquisition
     

    /NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA./

    MONTREAL, July 12, 2012 - GENIVAR Inc. (TSX: GNV) ("GENIVAR") is pleased to announce that an overwhelming majority of shareholders of WSP Group plc ("WSP") have approved GENIVAR's acquisition of WSP (the "Transaction") by way of a scheme of arrangement (the "Scheme") under Part 26 of the U.K. Companies Act 2006 at the Court Meeting and its General Meeting of shareholders held earlier today in London.

    At the Court Meeting, a majority in number of WSP shareholders who voted (representing 99.65% by value of those shares voted) voted in favor of the resolution to approve the Scheme. At the General Meeting of shareholders, 99.65% of the shares voted were voted in favor of the resolution to approve the Transaction.

    Completion of the Transaction remains subject to the satisfaction or waiver of certain conditions set out in the Scheme including Court sanction of the Scheme and Court confirmation of the associated capital reduction. The expected date for the Scheme Court Hearing and the Reduction Court Hearing is July 31 2012. Subject to the other conditions of the Scheme, it is expected that the Scheme will become effective on or around August 1, 2012.

    Capitalized terms, unless otherwise defined in this press release, have the meaning given to them in the Scheme document which is available on GENIVAR's website at www.genivar.com.

    Forward-looking information

    Certain information regarding GENIVAR contained herein may constitute forward-looking statements. Forward-looking statements may include statements with respect to, among other things, the Transaction, the expected closing date of the Transaction, estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although GENIVAR believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. GENIVAR's forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained in this press release are made as of the date hereof and GENIVAR does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless expressly required by applicable securities laws.

    ABOUT GENIVAR

    GENIVAR is a leading Canadian professional consulting services firm providing private and public-sector clients with a broad diversity of services in planning, engineering, surveying, environmental sciences, and projects and construction management, as well as architecture through strategic alliances. The Corporation is a fee-for-service professional consultants firm and it reports in one reportable segment, which is commonly referred to as consulting services. GENIVAR is one of the largest professional services firms in Canada by number of employees, with more than 5,500 managers, professionals, technicians, technologists, and support staff in over 100 cities in Canada and abroad. www.genivar.com

    GENIVAR INC.

    Alexandre L'Heureux
    Chief Financial Officer
    GENIVAR Inc.
    Phone: (514) 343-0773 x.5310
    alexandre.lheureux@genivar.com

    Isabelle Adjahi
    Director, Communications and Investor Relations
    GENIVAR Inc.
    Tel: (514) 343-0773 x.5648
    isabelle.adjahi@genivar.com