HALIFAX,
NS, Sept. 16, 2024 /CNW/ - Chorus Aviation
Inc. (TSX: CHR) ("Chorus") today announced that leading
independent proxy advisory firms Institutional Shareholder Services
Inc. ("ISS") and Glass, Lewis & Co., LLC ("Glass Lewis") have
recommended that Chorus shareholders vote "FOR" the resolution to
approve the sale of the assets comprising Chorus' Regional Aircraft
Leasing segment (the "Transaction") at the upcoming special meeting
on September 25, 2024 (the
"Meeting").
Chorus' board of directors (the "Board") has unanimously
determined that the Transaction is in the best interest of Chorus
and unanimously recommends that shareholders vote "FOR" the
resolution relating to the Transaction. A description of the
factors considered by the Board is located under the heading "The
Transaction – Reasons for the Recommendation" in the Management
Proxy Circular for the Meeting, which is available on Chorus'
website at www.chorusaviation.com under "Investors / Reports"
and under Chorus' profile on the System for Electronic Data
Analysis and Retrieval + (SEDAR+) at www.sedarplus.com.
Shareholders who require assistance in voting their shares may
contact Kingsdale Advisors, Chorus' strategic shareholder advisor
and proxy solicitation agent, by telephone at 1-866-581-1024
(toll-free in North America) or
1-437-561-5032 (text and call enabled outside North America), or by email at
contactus@kingsdaleadvisors.com.
Forward-Looking Information
This news release contains forward-looking information and
statements within the meaning of applicable securities laws
(collectively, "forward-looking information"). Forward-looking
information includes, among other things, statements regarding the
Transaction, including the anticipated timing of the Meeting, and
other statements that are not historical facts. There can be no
assurance that the Transaction will ultimately be completed or that
other forward-looking information contained herein will prove to be
accurate. Actual events or results may differ materially from those
anticipated in forward-looking information if known or unknown
risks affect Chorus' business, or if Chorus' estimates or
assumptions turn out to be inaccurate, which depend on various
factors, including the risk factors described in the circular and
in Chorus' public disclosure record available under its profile on
SEDAR+ at www.sedarplus.com.
The forward-looking information contained in this news release
represents Chorus' expectations as of the date of this news release
(or as of the date they are otherwise stated to be made) and is
subject to change after such date. Chorus disclaims any intention
or obligation to update or revise any forward-looking information
as a result of new information, subsequent events or otherwise,
except as required by applicable securities laws. Readers are
cautioned that the foregoing factors and risks are not
exhaustive.
About Chorus Aviation Inc.
Chorus is a global aviation solutions provider and asset
manager, focused on regional aviation. Our current principal
subsidiaries are: Falko Regional Aircraft, the leading pure play
regional aircraft asset manager and lessor, managing investments on
behalf of third-party fund investors; Jazz Aviation, the largest
regional operator in Canada and
provider of regional air services under the Air Canada Express
brand; Voyageur Aviation, a leading provider of specialty charter,
aircraft modifications, parts provisioning and in-service support
services; and Cygnet Aviation Academy, an industry leading
accredited training academy preparing pilots for direct entry into
airlines. Together, Chorus' subsidiaries provide services that
encompass every stage of a regional aircraft's lifecycle,
including: aircraft acquisition and leasing; aircraft
refurbishment, engineering, modification, repurposing and
transition; contract flying; aircraft and component maintenance,
disassembly, and parts provisioning; and pilot training.
Chorus Class A Variable Voting Shares and Class B Voting Shares
trade on the Toronto Stock Exchange under the trading symbol 'CHR'.
Chorus 5.75% Senior Unsecured Debentures due December 31, 2024, 6.00% Convertible Senior
Unsecured Debentures due June 30,
2026, and 5.75% Senior Unsecured Debentures due June 30, 2027 trade on the Toronto Stock Exchange
under the trading symbols 'CHR.DB.A', 'CHR.DB.B', and 'CHR.DB.C'
respectively. For further information on Chorus, please visit
www.chorusaviation.com.
SOURCE Chorus Aviation Inc.
