LOGISTEC Corporation’s principal shareholder, Sumanic Investments Inc., has expressed interest in selling all or part of its shares in the corporation. In response, LOGISTEC has formed a special committee of independent directors to review strategic alternatives and maximize shareholder value. TD Securities Inc. has been engaged as the financial advisor for the process. While no definitive schedule has been set, the corporation aims to pursue a transaction in the best interest of all stakeholders.
Exploring Strategic Alternatives
The board of directors at LOGISTEC Corporation has initiated a review of strategic alternatives following the interest expressed by Sumanic Investments Inc. The special committee, composed of independent directors, will assess the available options, including the potential sale of shares. The goal is to identify the best course of action that maximizes shareholder value and benefits all stakeholders involved. TD Securities Inc. has been appointed as the financial advisor to provide guidance throughout the evaluation process.
Implications for Shareholders and Investors
The potential sale of shares by Sumanic Investments Inc. could have significant implications for LOGISTEC Corporation’s shareholders and investors. The review of strategic alternatives aims to determine the most favorable outcome, whether through a complete or partial sale, that enhances shareholder value. The corporation’s performance, financial position, and prospects will be closely analyzed to assess the potential impact on investors. Shareholders and investors should stay informed about the developments and future announcements from LOGISTEC Corporation.
About LOGISTEC Corporation
LOGISTEC Corporation is a Montreal-based company providing specialized services to the marine community and industrial companies across North America. The corporation operates in various areas, including bulk, break-bulk, and container cargo handling in ports and terminals. It also offers marine transportation services focused on the Arctic coastal trade and marine agency services for the Canadian market. Additionally, LOGISTEC is involved in the environmental industry, offering services such as water mains renewal, dredging, contaminated soils management, and site remediation. The corporation has a track record of profitability and regular dividend payments since going public.
LOGISTEC Corporation’s shares are listed on the Toronto Stock Exchange under the ticker symbols LGT.A and LGT.B. Investors and potential shareholders can find more information on the corporation’s website. It is important to note that the evaluation of strategic alternatives is subject to uncertainties and contingencies, and there is no guarantee of a transaction or its successful completion. The corporation will provide updates if and when warranted by the circumstances.
For further information, contact Carl Delisle, Chief Financial Officer of LOGISTEC Corporation, at [email protected] or (514) 985-2390.
Based on the entities mentioned in the content, here are some frequently asked questions (FAQs) that could provide the information we need:
Frequently Asked Questions
What services does LOGISTEC Corporation provide?LOGISTEC Corporation provides specialized services to the marine community and industrial companies. These services include bulk, break-bulk, and container cargo handling, marine transportation, marine agency services, and environmental solutions.
Who is the principal shareholder of LOGISTEC Corporation?The principal shareholder of LOGISTEC Corporation is Sumanic Investments Inc.
Where is LOGISTEC Corporation based?LOGISTEC Corporation is based in Montral, Quebec, Canada.
Are LOGISTEC Corporation’s shares publicly traded?Yes, LOGISTEC Corporation’s shares are listed on the Toronto Stock Exchange under the ticker symbols LGT.A and LGT.B.
Who is the Chief Financial Officer (CFO) of LOGISTEC Corporation?The Chief Financial Officer (CFO) of LOGISTEC Corporation is Carl Delisle.