The Tribunal administratif des marchés financiers (Québec) blocks Groupe Mach’s Scheme

Provided by Transat A.T. Inc/CNW

  • Mach prohibited from acquiring any Transat shares under its Scheme
  • Mach forbidden from using any proxies associated with shares deposited under the Scheme

MONTRÉAL, Aug. 12, 2019 /CNW Telbec/ – Transat A.T. Inc. (“Transat” or the “Corporation”), announced today that the Tribunal administratif des marchés financiers (Québec) has accepted by way of a majority decision, with immediate effect, Transat’s application to cease trade the offer made by Groupe Mach Acquisition Inc. (“Mach”) on August 2, 2019 to acquire 6.9 million Class B voting shares of Transat (the “Scheme”).

As a result, Mach is not allowed to acquire any shares under its Scheme and is expected to return promptly to shareholders any shares already deposited by them to Mach under its scheme. Mach is also forbidden from using any proxies associated with shares deposited under the Scheme.

Transat’s board of directors (the “Board”) and the special committee of the Board (the “Special Committee”), supported by their financial and legal advisors, reiterate their unanimous recommendation that the Arrangement with Air Canada is in the best interest of Transat and its stakeholders and is fair to Transat shareholders, and unanimously recommend that shareholders:

Vote FOR the special resolution approving the Arrangement with Air Canada

Special Meeting of Transat Shareholders

A special meeting of shareholders (the “Meeting”) will be held at 10:00 am on Friday, August 23, 2019 at the Sofitel Montréal Hotel located at 1155 Sherbrooke Street West, Montréal, Quebec, in accordance with the terms of an interim order of the Québec Superior Court obtained on July 17, 2019. At the Meeting, shareholders will be asked to consider and vote on the special resolution approving the Arrangement with Air Canada.

The Board encourages all shareholders to vote well in advance of the proxy cut-off time of 5:00 p.m. (Montréal time) on August 21, 2019.

Transat has retained Kingsdale Advisors to act as its strategic shareholder advisor and proxy solicitation agent, to answer information requests from shareholders and to assist in the submission of proxies and voting instructions. Communications with Kingsdale Advisors may be made by phone toll free within North America at 1-888-518-1552, or collect call outside North America at 416-867-2272, or by e-mail at

A copy of the management proxy circular of the Corporation dated July 19, 2019 and related Meeting materials have been mailed to shareholders on July 23, 2019 and are also available on SEDAR under Transat’s profile at, on Transat’s website at or by contacting Kingsdale Advisors.