TORONTO, Feb. 01, 2022 (GLOBE NEWSWIRE) -- Topicus.com Inc. (the “Company”) (TSXV: TOI), announced today the completion of the conversion of all issued and outstanding preferred shares of the Company into subordinate voting shares of the Company and all issued and outstanding preference units of its subsidiary Topicus.com Coöperatief U.A. (the “Coop”) into ordinary units of the Coop.
As previously announced by the Company, the threshold for the mandatory conversion of all preferred shares of the Company and all preference units of the Coop was reached on April 29, 2021, and as of May 28, 2021, the holder of all of the preferred shares of the Company, Constellation Software Inc. (TSX: CSU), had elected to convert such shares into subordinate voting shares of the Company on a one for one basis, and all holders of the preference units of the Coop had elected to convert such units into ordinary units of the Coop on a one for one basis.
Upon the conversion of the preferred shares of the Company and the preference units of the Coop, the holders thereof were entitled to receive all accrued but unpaid cumulative dividends accruing to the day before the conversion date. As a result, on January 31, 2022, the Coop declared and paid a dividend in the amount of €1.026 per preference unit to the holders of the preference units of the Coop for an aggregate dividend amount of €66,614,691. As a holder of 39,412,385 preference units of the Coop, the Company received a dividend in the aggregate amount of €40,449,914 from the Coop. The Company then declared and paid a dividend in the amount of €1.026 per preferred share (for an aggregate dividend amount of €40,449,914) to Constellation Software Inc. as the holder of all of the preferred shares of the Company.
About Topicus.com Inc.
Topicus.com Inc. is a leading pan-European provider of vertical market software and vertical market platforms to clients in public and private sector markets. Operating and investing in countries and markets across Europe with long-term growth potential, Topicus.com Inc. acquires, builds and manages leading software companies providing specialized, mission-critical and high-impact software solutions that address the particular needs of customers.
For further information, contact:
Topicus.com Inc.
Jamal Baksh, Chief Financial Officer
Tel: (416) 861-9677
jbaksh@csisoftware.com
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