Fintech
BBL Acquisitions Inc. Provides Update on Its Takeover of Brampton Brick Limited
Toronto, Ontario–(Newsfile Corp. – March 22, 2021) – Brampton Brick Limited (TSX: BBL.A) (“BBL“) and BBL Acquisitions Inc. (the “Offeror“) are pleased to provide an update on the Offeror’s offer (the “Offer“) to acquire all of the issued and outstanding Class A Subordinate Voting shares (the “Class A Shares“) of BBL (other than Class A Shares beneficially owned, or over which control or direction is exercised, by the Offeror or any person acting jointly or in concert with the Offeror) at a price of $12 per share.
Based upon reports received from AST Trust Company (Canada), the depositary for the Offer, as of the expiry of the Offer at 5:00 p.m. (Toronto time) on March 22, 2021 (the “Final Expiry Time”), an additional 116,609 Class A Shares have been tendered under the Offer subsequent to March 1, 2021. Based upon reports received from AST Trust Company (Canada), as of the Final Expiry Time, the total number of Class A Shares tendered to the Offer and not withdrawn under the terms of the Offer is 3,493,035 (of which 460,990 Class A Shares were tendered by persons acting jointly or in concert with the Offeror), representing approximately 67.5% of the issued and outstanding Class A Shares, excluding Class A Shares beneficially owned or over which control or direction is exercised by the Offeror or any person acting jointly or in concert with the Offeror. The Offeror and its joint actors will collectively own approximately 84.2% of the issued and outstanding Class A Shares.
There will be no further extensions of the Offer and all of the conditions of the Offer have been satisfied or waived by the Offeror.
In accordance with the terms of the Offer, the Offeror has already taken up and paid for the Class A Shares that were tendered prior to the initial expiry time of 5:00 p.m. (Toronto time) on March 1, 2021 (the “Initial Expiry Time“) as well as Class A Shares tendered subsequent to the Initial Expiry Time up to and including 5:00 p.m. (Toronto time) on March 11, 2021 (the “Initial Extended Expiry Time“). In accordance with the terms of the Offer, the Offeror will pay for the additional Class A Shares taken up since the Initial Extended Expiry Time as soon as possible, and in any event, not later than three business days after the additional Class A Shares are taken up.
Copies of the Offeror’s take-over bid circular and BBL’s directors’ circular, each dated December 21, 2020, are available without charge on BBL’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
With the Offer having been successful, the Offeror intends to take steps to acquire all of the remaining Class A Shares not owned by the Offeror and any person acting jointly or in concert with the Offeror. In due course, a special meeting of the BBL shareholders will be held for the purpose of approving a second-step transaction in respect of BBL. The Offeror , following the take-up of the most recently tendered Class A Shares, intends to vote all of the Class A Shares acquired by it under the Offer in favour of the second- step transaction.
BBL announces that, following the Final Expiry Time, John M. Piecuch, P. David Grant, Peter Smith, Jim V. De Gasperis and Kenneth Tanebaum resigned from the board of directors of BBL, and that Michael C. Volpatti and Larry Himelfarb, CA were appointed to the BBL board. BBL’s board of directors currently consists of Jeffrey G. Kerbel, Christopher R. Bratty, Howard C. Kerbel, Michael C. Volpatti and Larry Himelfarb, C.A.
Jeffrey G. Kerbel, the President, Chairman of the Board and Chief Executive Officer of BBL said: “I want to thank each of Messrs. Piecuch, Grant, Smith, De Gasperis and Tanenbaum for their dedication, valuable advice and important contributions over many years. Your efforts and service are greatly appreciated.”
Brampton Brick Limited is Canada’s second largest manufacturer of clay brick, serving markets in Ontario, Quebec and the Northeast and Midwestern United States from its brick manufacturing plants located in Brampton, Ontario and Farmersburg, Indiana. To complement the clay brick product line, the Company also manufactures a range of concrete masonry products, including concrete brick and block as well as stone veneer products. Concrete interlocking paving stones, retaining walls, garden walls and enviro products are manufactured and distributed from facilities in Markham, Hillsdale, Brockville, Cambridge and Brampton, Ontario, in Boisbriand, Quebec and in Wixom, Michigan, and sold to markets in Ontario, Quebec, Michigan, New York, Pennsylvania, Ohio, Kentucky, Illinois and Indiana under the OaksTM and BoehmersTM trade names. The Company’s products are used for residential construction and for industrial, commercial, and institutional building projects.
For more information please contact:
Jeffrey G. Kerbel
President, Chief Executive Officer and Chairman of the Board, Brampton Brick Limited
President and Chief Executive Officer, BBL Acquisitions Inc.
Tel: 905-840-1011
Email: [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/78182
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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