Folkstone Capital Corp: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Folkstone Capital Corp To acquire Shares Of USA Property Direct
Folkstone Capital Corp announced details concerning Folkstone's proposed qualifying transaction by which it will acquire (the Transaction) all of the issued and outstanding shares of USA Property Direct (the Target Company). The Target Company is a private company that holds real estate assets in the United States. Folkstone has entered into a letter agreement with the Target Company August 20, 2012, pursuant to which Folkstone will acquire, directly or indirectly, from the shareholders of the Target Company 100% of the issued and outstanding common shares of the Target Company (the Target Company Common Shares) and the Target Company will become a direct or indirect wholly-owned subsidiary of the CPC. It is intended that the Transaction, when completed, will constitute the qualifying transaction of the Corporation pursuant to Policy 2.4 of the TSX Venture Exchange (the Exchange) Corporate Finance Manual. The Transaction is subject to the policies of the Exchange relating to qualifying transactions, as well as shareholder approval of Folkstone and the Target Company. Terms of the transaction were not disclosed.
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