The transaction will be carried out by way of statutory plan of arrangement pursuant to the
Canada Business Corporations Act (“CBCA”). Under the terms of the Transaction, GlobalX will distribute 75% of the shares of Jetlines to GlobalX’s shareholders as of the Record Date and retain a 25% interest in Jetlines. Each shareholder of GlobalX as of the Record Date will receive one share of Jetlines for every two shares of GlobalX held on the Record Date. Jetlines intends to operate as a Canadian charter airline once applicable regulatory approvals are in place and the Transaction is essential to achieve compliance with foreign ownership and control restrictions applicable to Canadian airlines.
Global Crossing Airlines Group Inc : Global Crossing Airlines Provides Details on Spin-Out of Canada Jetlines
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Huawei exec seeks months-long delay in US case
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Huawei defence to ask Canada court for delay in CFO’s extradition hearings
Reuters, Vancouver
Reuters, Vancouver
The defense team for Huawei s chief financial officer, Meng Wanzhou, will ask a Canadian court to delay upcoming hearings in her US extradition case, the court said on Friday.
Meng s US extradition hearings have lasted more than two years and she is scheduled to be back in the British Columbia Supreme Court on April 26.
A source familiar with the matter told Reuters the application was a result of an agreement announced last week in a Hong Kong court between Huawei Technologies Co Ltd and HSBC regarding publication of internal documents relating to the fraud allegations against Meng.