01:05 PM EDT, 10/02/2024 (MT Newswires) -- Dominion Lending Centres ( BRLGF ) on Wednesday said it entered into an acquisition agreement with KayMaur Holdings and certain minority holders to acquire all of Dominion's non-voting series I class B preferred shares in a deal valued at $137 million.

Dominion will issue 30.5-million Class A common shares and make a cash payment of $15 million for the preferred shares, which it intends to cancel.

Closing is expected by the end of this year. The preferred shares were issued in connection with Dominion's reorganization at the end of 2020, and segregated the DLCG operations from the various non-core assets and associated indebtedness related to its legacy operations. All non-core assets have been disposed of and indebtedness repaid, negating the original purpose of the preferred shares, the company said.

Dominion was last seen up $0.05 to $4.20, on the Toronto Stock Exchange.

Price: 4.20, Change: +0.05, Percent Change: +1.20