MONTREAL — TransForce, Canada’s largest trucking company, will soon no longer be an income trust, as unitholders voted for special resolutions approving the previously-announced plan to convert TransForce Income Fund into TransForce Inc.
The special resolution was adopted by a vote of 84 percent while a related special resolution by shareholders of the affiliated TFI Holdings Inc. was adopted by a vote of 100 percent.
The fund will apply to the Québec Superior Court for a final order with respect to the Plan of Arrangement.
It is also expected that the common shares of TransForce Inc. will commence trading on the Toronto Stock Exchange on May 20 under the stock symbol “TIF”, and the trust units of TransForce Income Fund will be delisted from the TSX at that time.
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