WHITBY, ONTARIO -- (Marketwired) -- 04/26/13 -- Attention: Business/Financial Editors
McGraw-Hill Ryerson Limited (TSX: MHR) announced today that it has established a treasury support program pursuant to which MHR expects to make loans from time to time to certain affiliates of McGraw-Hill Global Education Holdings, LLC, an affiliate of MHR, in exchange for interest-bearing, demand promissory notes. The loans will be secured through a guarantee issued by McGraw-Hill Global Education Holdings, LLC. MHR expects that the establishment of the treasury support program will allow it to generate higher returns on the uncommitted cash resources of MHR from time to time.
The aggregate fair market value of the Notes issued pursuant to the treasury support program, will not, at any time, exceed the lesser of: (a) 25% of MHR's then-current market capitalization; and (b) $15,000,000. The treasury support program will constitute a "related party transaction" for purposes of MI 61-101 - Protection of Minority Security Holders in Special Transactions, but is exempt from the formal valuation and minority shareholder approval requirements.
McGraw-Hill Ryerson Limited
Chief Financial Officer and Secretary-Treasurer
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
OCTOBER 31, 2014
|Customer Service||Policy||Advertise||Site Tools|
|HispanicBusiness Services||Editorial Guidelines||Ad Specifications||Magazine Archive|
|List Rental Agreement||About Us||Media Kits||Post Your Event|
|HireDiversity Job Search||Editorial Calendar||Research|
© 2014 HispanicBusiness Inc. All Rights Reserved.