MONTREAL, June 18, 2019 – Group Mach Inc. (“MACH”) confirms that the proposed acquisition structure in its formal proposal to acquire all issued and outstanding voting shares (the “Shares”) of Transat A.T. Inc. (TSX: TRZ) (“Transat”) at a price of $14.00 cash per Share to the attention of the Board of Directors of Transat, as announced in MACH’s press release of June 14, 2019 (the “MACH Press Release”), is a plan of arrangement pursuant to the Canada Business Corporations Act, subject to negotiations of a definitive acquisition agreement with Transat. For greater certainty, MACH’S proposed acquisition is not a take-over bid as defined under securities laws such laws prohibiting, among other things, matters related to conditions of financing.
