Source: Wellteq
  • Wellteq Digital Health (WTEQ) has announced that shareholders have approved its plan of arrangement
  • The plan of arrangement between Wellteg and Advanced Human Imaging Ltd (AHI) involves AHI acquiring all of the outstanding shares of Wellteq
  • At the special meeting of the Wellteq shareholders held on November 24, 2022, the plan of arrangement was approved by 100 per cent of the votes cast
  • Wellteq Digital Health Inc. is a digital health provider
  • Wellteq Digital Health Inc. was down 20.00 per cent, trading at $0.02 at 12:43 ET

Wellteq Digital Health (WTEQ) has announced that holders of its common shares have approved its plan of arrangement.

The plan of arrangement between Wellteg and Advanced Human Imaging Ltd (AHI) involves AHI acquiring all of the outstanding shares of Wellteq, as previously announced.

At the special meeting of the Wellteq shareholders held on November 24, the plan of arrangement was approved by 100 per cent of the votes cast.

Under the terms of the plan of arrangement, Wellteq shareholders will receive one AHI ordinary share for every six Wellteq common shares held.

Registered Wellteq shareholders are reminded to complete, sign and return the letter of transmittal provided with the materials for the meeting, together with the certificate(s) / DRS advice(s) representing their Wellteq shares as indicated in the letter of transmittal.

Closing of the transaction is expected to occur in early December 2022, subject to obtaining a final order from the Supreme Court of British Columbia and the satisfaction of other customary conditions.

The hearing for approval of the final order by the court is currently expected to take place on November 30, 2022.

Following the completion of the transaction, Wellteq intends to apply to have the Wellteq shares delisted from the Canadian Securities Exchange and to cease to be a reporting issuer.

Advanced Human Imaging Ltd. has developed and patented a proprietary dimensioning technology that enables users to check, track, and assess their dimensions and body composition using only a smartphone privately and accurately.

Wellteq Digital Health Inc. is a digital health provider.

Wellteq Digital Health Inc. was down 20.00 per cent, trading at $0.02 at 12:43 ET.


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