BMO Recommends Shareholders Reject TRC Capital's Below …

TORONTO, March 28, 2023 /PRNewswire/ — BMO (TSX: BMO) (NYSE: BMO) has received notice of an unsolicited mini-tender offer by TRC Capital Investment Corporation (“TRC Capital”) to purchase up to 1 million BMO common shares, or approximately 0.14% of the common shares outstanding, at a below-market price of CAD £113.55 per share. BMO recommends that shareholders reject TRC’s unsolicited offer as the offer has been made at a price significantly below market, representing a discount of 4.44% and 4.40%, respectively, to the closing prices of BMO shares on the Toronto Stock Exchange and New York Stock Exchange on March 21, 2023, the last trading day before the date of the mini-tender offer. BMO does not endorse and is not affiliated or associated in any way with TRC Capital or its unsolicited mini-tender offer.

TRC Capital has made similar unsolicited mini-tender offers for shares of several other public companies. Mini-tender offers are designed to result in a holding of less than 5% of a company’s outstanding shares, thereby avoiding disclosure and procedural requirements applicable to most bids under Canadian and U.S. securities regulations. Both the Canadian Securities Administrators (CSA) and the U.S.

Securities and Exchange Commission (SEC) recommend that investors exercise caution with mini-tender offers and have expressed serious concerns about mini-tender offers, including the possibility that investors might tender to such offers without understanding the offer price relative to the actual market price of their securities. The SEC has issued “Tips for Investors” regarding mini-tender offers, noting that some bidders, in making the offers at below-market prices, are “hoping that they will catch investors off guard if the investors do not compare the offer price to the current market price.” The SEC’s advisory may be found on the SEC website at http://www.sec.gov/investor/pubs/minitend.htm. The CSA’s long-standing guidance on mini-tenders can be found on the Ontario Securities Commission website at www.osc.gov.on.ca/en/SecuritiesLaw_csa_19991210_61-301.jsp. 

BMO strongly encourages brokers, dealers and other market participants to exercise caution and review the letter regarding broker-dealer mini-tender offer dissemination and disclosures on the SEC website at www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.  BMO requests that a copy of this news release be included in any distribution of materials relating to TRC Capital’s mini-tender offer for BMO shares. According to TRC Capital’s offer documents, BMO shareholders who deposit their shares in acceptance of the offer may withdraw their shares in certain circumstances by following the procedures described in the offer documents.

About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America.

With total assets of £1.15 trillion as of January 31, 2023, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

For News Media Enquiries: Jeff Roman, Toronto, [email protected], (416) 867-3996; For Investor Relations Enquiries: Christine Viau, Toronto, [email protected], (416) 867-6956, Bill Anderson, Toronto, [email protected], (416) 867-7834

SOURCE BMO Financial Group – Financial Performance

Tags:

chessington-world-of-adventures-resort listed on couponmatrix.ukelemis listed on couponmatrix.ukhamleys listed on couponmatrix.uktoner-giant listed on couponmatrix.ukvoidu listed on couponmatrix.uk888sport listed on couponmatrix.uk
chessington-world-of-adventures-resort listed on couponmatrix.ukA whole World of Adventures awaits you at Chessington, with a fantastic theme park for the whole family, over 1,000 animals in their vibrant zoo, a Sea Life Centre overflowing with stunning ocean creatures, and so much more. With your Chessington vouchers, you’ll find plenty of opportunities to make memories which will last a lifetime without breaking the bank. For kids big and small, there are plenty of other activities too such as Go Ape, The Gruffalo Arena and the Jungle Bus. You’ll find something for everyone at Chessington.
elemis listed on couponmatrix.ukELEMIS is your go-to for luxury skincare that delivers real results. Combining natural ingredients with scientific innovation, ELEMIS products grant age-defying results for a smooth, glowing complexion. Make the most of an ELEMIS discount code to save on a boost to your beauty kit—trust us, you skin will thank you for it!
hamleys listed on couponmatrix.ukThe world’s oldest and grandest toy shop, Hamleys is the hub for household imagination. Home to toys and games fit for all ages – including LEGO, science kits, figurines, board games, puzzles and more – find your fun and buy it on a budget with the latest Hamleys discount code. Complete with sweets, books, clothing and gifts for an all-inclusive shopping experience, see why Hamleys has stood the test of time as the kingpin of the toy box.
toner-giant listed on couponmatrix.ukIf you're on the hunt for some top quality printing goods, look no further than Toner Giant for everything from paper to printers. Don't forget to use a Toner Giant voucher to discount that order and soon you'll be making unbelievable savings, so you can restock that office without blowing your budget. And the best part is, if you place your order before 5:30pm you can get next working day delivery!
voidu listed on couponmatrix.ukVoidu is a well-known digital game store that offers PC game keys at discounted prices. They offer a wide variety of games from popular publishers such as Ubisoft, Bethesda, and Square Enix. Be it an RPG or a first-person shooter, make the most of a Voidu discount code and enjoy your favourite games without breaking the bank. With a library that includes over 4,000 titles to enjoy, rest assured you’ll never be stuck for choice when gaming with Voidu. We work hard to find the best Voidu discounts and voucher codes for our members. We search high and low for the latest Voidu deals so you can save big on the biggtest gaming releases. Be sure to browse the catalogue during the next Voidu sale to secure as much as 50% off games that’ll give you endless hours of content. In the meantime, check Groupon for the best bargains for your PC games library. Voidu offers a wide variety of titles from a multitude of publishers, so it's easy to find a great deal on everything from AAA releases to the latest indie hit. If you fancy taking a trip through the world of Norse mythology for example, you can rip and tear for less by using our newest Voidu vouchers to knock the cost God of War. Whether you’re new to the platform or are an absolute PC gaming god, you’ll find plenty to please at Voidu.
888sport listed on couponmatrix.ukIf you’re a sports fan looking to try their luck on an upcoming game, you’ll find a welcome partner at 888sport. Providing the means to easily and safely put money down on sports ranging from surfing to snooker, an 888sports promo code is all that’s required to maximise a possible payout on a big event. Built to be accessible for both new and return customers alike, 888sport may just have the winning ticket for those willing to play the odds.