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Title: |
Amalgamation Agreement |
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Entities: |
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Date: |
2004 |
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Size: |
23KB total |
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Price: |
$33 |
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ID: |
#1996416 |
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9139-4460 QUEBEC INC.
-AND-
9139-7158 QUEBEC INC.
-AND-
3087053 NOVA SCOTIA COMPANY
-AND -
MAAX INC.
--------------------------------------------------------------------------------
AMALGAMATION AGREEMENT
--------------------------------------------------------------------------------
MARCH 10, 2004
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
----
{S} {C}
ARTICLE 1 INTERPRETATION.............................................. 2
1.1 Definitions................................................. 2
1.2 Interpretation Not Affected by Headings, etc................ 4
1.3 Currency.................................................... 4
1.4 Number, etc................................................. 4
1.5 Date For Any Action......................................... 4
ARTICLE 2 AMALGAMATION................................................ 4
2.1 Amalgamation................................................ 4
2.2 Rights and Obligations...................................... 4
2.3 Name........................................................ 4
2.4 Head Office................................................. 5
2.5 Activities.................................................. 5
2.6 Share Capital............................................... 5
2.7 Restrictions on Transfer and Other Provisions............... 5
2.8 By-Laws..................................................... 5
ARTICLE 3 BOARD OF DIRECTORS.......................................... 5
3.1 Board of directors.......................................... 5
ARTICLE 4 AMALGAMATION EVENTS......................................... 6
4.1 Amalgamation Events......................................... 6
ARTICLE 5 TERMINATION................................................. 6
5.1 Termination................................................. 6
ARTICLE 6 ARTICLES OF AMALGAMATION.................................... 7
6.1 Articles of Amalgamation.................................... 7
ARTICLE 7 GENERAL..................................................... 7
7.1 Cooperation / Further Assurances............................ 7
7.2 Governing Law............................................... 7
7.3 Forum; Jurisdiction......................................... 7
7.4 Counterparts................................................ 7
7.5 Time........................................................ 8
7.6 Amendments.................................................. 8
{/TABLE}
i
{PAGE}
AMALGAMATION AGREEMENT
MEMORANDUM OF AGREEMENT made as of the 10th day of March, 2004,
BETWEEN: 9139-4460 QUEBEC INC., a company incorporated under the
laws of the Province of Quebec (hereinafter referred to
as "SUBCO")
AND: 9139-7158 QUEBEC INC., a company governed under the laws
of the Province of Quebec (hereinafter referred to as
"SUBCO II")
AND: 3087053 NOVA SCOTIA COMPANY, a company governed under
the laws of the Province of Nova Scotia (hereinafter
referred to as "NEWCO II")
AND: MAAX INC., a company amalgamated under the laws of the
Province of Quebec (hereinafter referred to as "MAAX")
WHEREAS Subco was incorporated under Part IA of the Companies Act (Quebec) by
certificate of incorporation dated February 27, 2004;
WHEREAS Subco II was incorporated under Part IA of the Companies Act (Quebec) by
certificate of incorporation dated March 5, 2004;
WHEREAS Newco II was incorporated under the Companies Act (Nova Scotia) on March
5, 2004;
WHEREAS MAAX was amalgamated under Part IA of the Companies Act (Quebec) by
certificate of amalgamation dated August 1, 1990;
WHEREAS the authorized share capital of MAAX consists of an unlimited number of
common shares, class A preferred shares and class B preferred shares, all
without par value, of which 24,395,459 common shares and no class A preferred
shares and no class B preferred shares have been issued and are outstanding as
at the date hereof as fully paid and non-assessable;
WHEREAS the authorized share capital of each of Subco and Subco II consists of
an unlimited number of (i) common shares, without par value, and (ii) redeemable
preferred shares, with a par value of $100 per share, of which 500 common shares
and no redeemable preferred shares have been issued and are outstanding as of
the date hereof as fully paid and non-assessable;
WHEREAS Subco, Subco II, Newco II, MAAX and 3087052 Nova Scotia Company have
entered into a merger agreement dated the date hereof with respect to the
transactions contemplated herein (the "MERGER AGREEMENT");
{PAGE}
WHEREAS, as contemplated in the Merger Agreement, Subco, Subco II and MAAX,
availing themselves of Part IA of the Companies Act (Quebec), wish to amalgamate
on the terms and conditions set forth herein and in the Merger Agreement;
NOW THEREFORE this Agreement witnesses that, in consideration of the respective
covenants and agreements herein contained, the parties hereto covenant and agree
as follows:
ARTICLE 1
INTERPRETATION
1.1 DEFINITIONS
In this Agreement, unless there is something in the subject matter or
context inconsistent therewith, the following terms shall have the
following meanings, respectively:
1.1.1 "AMALCO" means MAAX Inc., the company resulting from the
Amalgamation;
1.1.2 "AMALGAMATION" means an amalgamation between Subco, Subco II and
MAAX under Part IA of the Companies Act giving effect to the
transactions described in this Agreement;
1.1.3 "ARTICLES OF AMALGAMATION" means the articles confirming the
Amalgamation required under the Companies Act to be filed with the
Enterprise Registrar, substantially in the form attached hereto as
Schedule 1.1.3;
1.1.4 "BUSINESS DAY" means any day, other than a Saturday, Sunday or a
statutory holiday in the Province of Quebec, the Province of Ontario
or in the State of Massachusetts, on which banks are open for
business in the City of Montreal, the City of Toronto and the City
of Boston;
1.1.5 "CERTIFICATE OF AMALGAMATION" means the certificate issued by the
Enterprise Registrar attesting to the Amalgamation pursuant to
Section 123.119 of the Companies Act;
1.1.6 "CIRCULAR" means the notice of the MAAX Meeting and accompanying
management information circular in the French and English languages,
including all schedules thereto, to be prepared and sent by MAAX to
Shareholders in connection with the MAAX Meeting;
1.1.7 "COMMON SHARES" (individually, a "COMMON SHARE") means the common
shares in the share capital of Amalco;
1.1.8 "COMPANIES ACT" means the Companies Act (Quebec) as now in effect
and as it may be amended from time to time prior to the Effective
Date;
1.1.9 "DEPOSITORY" means National Bank Trust Inc. or any other depository
designated by Subco or Subco II;
2
{PAGE}
1.1.10 "EFFECTIVE DATE" means the date shown on the Certificate of
Amalgamation;
1.1.11 "ENTERPRISE REGISTRAR" means the enterprise registrar acting under
the Companies Act;
1.1.12 "GOVERNMENTAL ENTITY" (collectively, the "GOVERNMENTAL ENTITIES")
means any (a) multinational, federal, provincial, state, regional,
municipal, local or other government, governmental or public
department, central bank, court, tribunal, arbitral body,
commission, board, bureau or agency, domestic or foreign, (b) any
subdivision, agent, commission, board, or authority of any of the
foregoing, or (c) any quasi-governmental or private body
exercising any regulatory, expropriation or taxing authority under
or for the account of any of the foregoing;
1.1.13 "LAWS" (individually, a "LAW") means all laws, statutes, codes,
ordinances, decrees, rules, regulations, by-laws, statutory rules,
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