- Shareholders are encouraged to vote “FOR” the special resolution approving the Arrangement in advance of the February 19, 2025 at 11:00 A.M. (Toronto time) deadline
- Don’t Delay. Vote Today! For questions or help with voting, call Kingsdale Advisors at 1-866-581-1490 (North America toll free) or 416-623-2513 (text and call enabled outside North America), or email [email protected]
TORONTO, February 4, 2025 – Payfare Inc. (“Payfare” or the “Company”)(TSX: PAY, OTCQX: PYFRF) is pleased to announce that proxy advisory firm Glass Lewis has recommended that Payfare shareholders (“Shareholders”) vote “FOR” the previously announced statutory plan of arrangement (the “Arrangement”) between the Company, Fiserv, Inc. (“Fiserv”)(NYSE: FI) and 1517452 B.C. Ltd. (the “Purchaser”), an affiliate of Fiserv.
Pursuant to the Arrangement under the British Columbia Business Corporations Act, the Purchaser will acquire all of the issued and outstanding Class A common shares of the Company (the “Shares” and each, a “Share”), subject to obtaining shareholder and other customary approvals, for C$4.00 in cash per Share (the “Purchase Price”). The Arrangement is to be voted on at the special meeting of Shareholders to be held virtually on February 21, 2025 (the “Meeting”).
Glass Lewis is the second leading independent proxy voting and corporate governance advisory firm to recommend Shareholders vote “FOR” the Arrangement, following the previously announced recommendation from Institutional Shareholder Services (“ISS”).
The terms of the Arrangement are further described in the Management Information Circular (the “Circular”) and related materials for the Meeting, all of which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
Marco Margiotta, Chief Executive Officer and Founding Partner of Payfare, commented, “We are pleased that both Glass Lewis and ISS have endorsed each of the Boa