On Dec. 20, 2021, Allied Hotel Properties Inc. (TSX-V: AHP) (the Company or Allied) announced the completion of the previously announced statutory plan of arrangement with Allied Holdings Ltd. (Allied Holdings) pursuant to Part 9, Division 5 of the Business Corporations Act (British Columbia) (the Arrangement). Pursuant to the Arrangement, the Company has redeemed all of the issued and outstanding shares (Shares) of the Company (other than those Shares currently owned by Allied Holdings) (the Minority Shares) by paying $0.28 in cash for each Minority Share (the Consideration).
The Shares were de-listed from the TSX Venture Exchange effective at the close of market on December 21, 2021 and the Company ceased to be a reporting issuer in each of British Columbia and Alberta on January 11, 2022.
BLG represented Allied with a team led by Julie Bogle that included Breanna Chelsey (Securities); Rob Biggar (Tax); Steve Warnett and Hunter Parsons (Commercial Litigation); Samantha Stepney (Labour and Employment).