Dundee Corporation Shareholders Approve Sale of All of the DundeeWealth Inc. Shares Held by Dundee Corporation
07 January 2011 - 9:53AM
Marketwired
Dundee Corporation (TSX: DC.A)(TSX: DC.PR.A)(TSX: DC.PR.B)
("Dundee" or the "Company") is pleased to announce that at a
special meeting of its shareholders held earlier today, holders of
First Preference Shares, Series 1, First Preference Shares Series
2, Class A Subordinate Voting Shares and Class B Common Shares,
which are all of the classes of shares of the Company entitled to
vote at such meeting, voted overwhelmingly in favour of the sale of
all of the Company's shares of DundeeWealth Inc. ("DundeeWealth")
to The Bank of Nova Scotia ("Scotiabank"), pursuant to the terms of
the previously announced bid and in accordance with the terms of
the lock-up agreement. Of the 353,739,216 votes cast at the special
meeting, 99.9% voted in favour of this transaction.
The sale of the DundeeWealth shares to Scotiabank is expected to
close in the first quarter of 2011.
ABOUT DUNDEE CORPORATION
Dundee Corporation is an asset management company dedicated to
wealth management, real estate and resources that, combined,
reflect approximately $87 billion under management and
administration. Its domestic wealth management activities are
carried out through its 60% controlled subsidiary, DundeeWealth
Inc. Dundee Corporation's real estate activities are conducted
through its 70% owned subsidiary, Dundee Realty Corporation, which
operates as an asset manager of commercial real estate with
activities in a land and housing business in Canada and the United
States. Resource activities are carried out through its
wholly-owned subsidiary, Dundee Resources Limited. Asset management
activities are carried out through Ned Goodman Investment Counsel
Limited and Dundee Real Estate Asset Management (DREAM).
Contacts: Dundee Corporation Ned Goodman President and Chief
Executive Officer (416) 365-5665 Dundee Corporation Lucie Presot
Vice President and Chief Financial Officer (416) 365-5157
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