Home News Industry News Tembec Obtains Interim Order and Mails Meeting Materials for Plan of Arrangement in Connection with its Acquisition by Rayonier Advanced Materials

Tembec Obtains Interim Order and Mails Meeting Materials for Plan of Arrangement in Connection with its Acquisition by Rayonier Advanced Materials

Tembec Inc. (TSX: TMB) ("Tembec" or the "Company") announces that it has obtained an interim order (the "Interim Order") from the Superior Court of Québec (the "Court") authorizing, among other things, the holding of a special meeting (the "Meeting") of the holders of common shares of Tembec (the "Shareholders") to approve the previously announced proposed statutory arrangement under Section 192 of the Canada Business Corporations Act (the "Transaction") involving the acquisition by Rayonier Advanced Materials Inc. ("Rayonier AM") of all of the outstanding shares of Tembec (the "Tembec Shares").

Tembec has mailed the notice of meeting and the management information circular and related materials (the "Meeting Materials") to the Shareholders. The Meeting Materials are also available under Tembec's profile on SEDAR at www.sedar.com. The record date for determining the Shareholders entitled to receive notice and vote at the Meeting is June 19, 2017. The Meeting is scheduled to be held at 10:00 a.m. (Eastern time) on July 27, 2017 on the 41st Floor – Rooms Mont-Royal 1 and 2, at the offices of Stikeman Elliott LLP located at 1155 René-Lévesque Blvd. West in Montréal, Québec.

If the Transaction is approved by the Shareholders at the Meeting, the Company will attend a hearing before the Court scheduled for August 7, 2017 to ask the Court to grant a final order in respect of the Transaction. Subject to obtaining the approvals of the Shareholders and the Court and other necessary approvals and clearances, as well as the satisfaction or waiver of the conditions to the Transaction, it is expected that the Transaction will be completed by the end of 2017.

Tembec is a manufacturer of forest products – lumber, paper, and high purity cellulose – and a global leader in sustainable forest management practices. Principal operations are in Canada and France. Tembec has approximately 3,000 employees and annual sales of approximately C$1.5 billion. Tembec is listed on the Toronto Stock Exchange (TMB). More information is available at www.tembec.com.

Source: Tembec

 
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