Boyd Group Services Inc. announced the completion of the conversion of Boyd Group Income Fund from an income trust to a public corporation, pursuant to a plan of arrangement under the Canada Business Corporations Act.
As a result of the Arrangement, unitholders of the Fund are to receive one BGSI common share for each Fund unit held by the unitholder as at December 31, 2019. BGHI Class A common shareholders are also to receive one BGSI common share for each BGHI Class A common share held as at December 31, 2019. After giving effect to the conversion, there will be 20,207,194 BGSI common shares issued and outstanding.
BGSI common shares began trading on the Toronto Stock Exchange under the trading symbol “BYD.”
As a result of the Arrangement, BGSI now directly and indirectly owns and operates all of the subsidiaries and businesses which were previously owned by the Fund prior to the closing of the Arrangement. The trustees and officers of the Fund prior to the Arrangement are now the directors and officers of BGSI.