First announced in July, the deal was finally approved by regulators earlier this week.
A release from Genworth MI Canada explained that following closure of the transaction, the directors of the company – Brian Hurley, Rohit Gupta, Rajinder Singh and Jerome Upton – have all resigned. Meanwhile, Spencer Enright, Paul Forestell, Alan Norris and David Nowak have been appointed to the board of the directors of the company.
With closure of the transaction, Genworth MI Canada has terminated the automatic purchase plan and related automatic disposition plan that it entered in connection with its current normal course issuer bid. The company explained that at the time that the agreements were drafted, it was not aware of any material fact or change with respect to itself or any of its securities that had not been disclosed.
