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General

Canadian court rules Optiva can proceed with financing, gives ESW board seats

Tuesday 15 December 2020 | 11:03 CET | News
Canada's Ontario Superior Court of Justice said Optiva can go through with the financing it announced in July, when it raised USD 90 million in new debt and used the money to redeem USD 91 million worth of outstanding preferred shares. The case was brought to court by ESW Capital, Optiva's largest shareholder, which opposed the move. ESW made a public offer for the company in June, but was greeted by caution from Optiva, which proposed a new shareholders rights plan that could in the future stop such types of hostile takeover attempts. The court also found however that ESW is entitled to

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Categories: General
Companies: Optiva
Countries: World
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