MONTREAL, Que. — TransForce Income Fund is holding a meeting of shareholders to vote on whether or not the company will ditch its Income Fund status.
The Quebec Superior Court issued a ruling yesterday, calling for a meeting between shareholders to consider the re-organization from an income trust fund to a corporation. The meetings will be held May 12 in Laval, Que.
To proceed with the reorganization, TransForce must receive court and regulatory approvals, as well as approval from 66 2/3% of the fund’s shareholders and 66 2/3% of the shareholders of the related TFI Holdings.
If the required votes are granted, the fund will then appear before the Court on May 14 to receive a final order and to proceed with the reorganization.
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