Resolute Stockholders Vote in Favor of Each Proposal at Special Meeting
Stockholders of Resolute Forest Products Inc. (“Resolute” or the “company”) (NYSE: RFP) (TSX: RFP) today approved a proposal to adopt the Agreement and Plan of Merger, dated as of July 5, 2022 (as it may be further amended, modified or supplemented from time to time, the “merger agreement”), by and among the company, Domtar Corporation, a Delaware corporation (“Domtar”), Terra Acquisition Sub Inc., a Delaware corporation and a wholly owned subsidiary of Domtar (“Merger Sub”), Karta Halten B.V., a private limited company organized under the laws of the Netherlands, and Paper Excellence B.V., a private limited company organized under the laws of the Netherlands, pursuant to which Merger Sub will be merged with and into the company (the “merger”), with the company surviving as a wholly owned subsidiary of Domtar.
The adoption of the merger agreement required the affirmative vote of stockholders holding a majority of the issued and outstanding shares of Resolute’s common stock entitled to vote on such matter.
A total of 81.5% of the issued and outstanding shares of Resolute’s common stock entitled to vote at the special meeting of stockholders was voted in favor of the merger agreement. Of the total shares voted, 99.8% were voted in favor of the merger agreement. In addition, the non-binding compensation advisory proposal was also approved by a majority of the shares represented at the meeting.
Resolute currently expects to complete the merger in the first half of 2023, subject to receipt of regulatory approvals and the satisfaction or waiver of the other conditions to the closing of the merger.
About Resolute Forest Products
Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, tissue, wood products and papers, which are marketed in over 60 countries. The company owns or operates some 40 facilities, as well as power generation assets, in the United States and Canada. Resolute has third-party certified 100% of its managed woodlands to internationally recognized sustainable forest management standards. The shares of Resolute Forest Products trade under the stock symbol RFP on both the New York Stock Exchange and the Toronto Stock Exchange.
Resolute has received regional, North American and global recognition for its leadership in corporate social responsibility and sustainable development, as well as for its business practices. Visit www.resolutefp.com for more information.
Marianne Limoges – Treasurer and Vice President, Investor Relations – (514) 394-2217 – Email: firstname.lastname@example.org
Source: Resolute Forest Products Inc.