bison merger sub i, llcd18rn0p25nwr6d.cloudfront.net/cik-0001010858/e052fc36-b0...2.1 agreement and...
TRANSCRIPT
UNITED STATESSECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORTPursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 6, 2018 (June 1, 2018)
BISON MERGER SUB I, LLC(formerly known as Fairmount Santrol Holdings Inc.)(Exact name of registrant as specified in its charter)
Delaware 001-36670 34-1831554
(State or other jurisdictionof incorporation)
(CommissionFile Number)
(IRS EmployerIdentification No.)
8834 Mayfield Road, Chesterland, Ohio 44026(Address of Principal Executive Offices) (Zip Code)
(800) 255-7263Registrant’s telephone number, including area code
Not ApplicableFormer name or former address, if changed since last report
ChecktheappropriateboxbelowiftheForm8-Kfilingisintendedtosimultaneouslysatisfythefilingobligationoftheregistrantunderanyofthefollowingprovisions:
☐ WrittencommunicationspursuanttoRule425undertheSecuritiesAct(17CFR230.425)
☐ SolicitingmaterialpursuanttoRule14a-12undertheExchangeAct(17CFR240.14a-12)
☐ Pre-commencementcommunicationspursuanttoRule14d-2(b)undertheExchangeAct(17CFR240.14d-2(b))
☐ Pre-commencementcommunicationspursuanttoRule13e-4(c)undertheExchangeAct(17CFR240.13e-4(c))
IndicatebycheckmarkwhethertheregistrantisanemerginggrowthcompanyasdefinedinRule405oftheSecuritiesActof1933(§230.405ofthischapter)orRule12b-2oftheSecuritiesExchangeActof1934(§240.12b-2ofthischapter)
Emerginggrowthcompany☐
Ifanemerginggrowthcompany,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancialaccountingstandardsprovidedpursuanttoSection13(a)oftheExchangeAct.☐
Introductory Note
OnJune1,2018,FairmountSantrolHoldingsInc.,aDelawarecorporation(nowknownasBisonMergerSubI,LLCandreferredtohereinas“FairmountSantrol”),becameawhollyownedsubsidiaryofCoviaHoldingsCorporation,aDelawarecorporation(formerlyknownasUniminCorporationandreferredtohereinas“Covia”),asaresultofthemergerofBisonMergerSub,Inc.,aDelawarecorporationanddirectwhollyownedsubsidiaryofCovia(“MergerSub”),withandintoFairmountSantrol,withFairmountSantrolcontinuingasthesurvivingcorporation(the“Merger”),followedimmediatelybythemergerofFairmountSantrolwithandintoBisonMergerSubI,LLC,aDelawarelimitedliabilitycompanyanddirectwhollyownedsubsidiaryofCovia(“MergerSubLLC”),withMergerSubLLCcontinuingasthesurvivingentityandadirectwhollyownedsubsidiaryofCovia(the“SecondMerger”).
TheMergerandtheSecondMergerwereeffectedpursuanttotheAgreementandPlanofMerger,datedasofDecember11,2017(the“MergerAgreement”),byandamongCovia,FairmountSantrol,SCR-SibelcoNV,aprivatelyownedBelgiancompany(“Sibelco”),MergerSubandMergerSubLLC.
Item 1.02. Termination of Material Definitive Agreement.
TheinformationsetforthintheIntroductoryNoteofthisCurrentReportonForm8-Kisincorporatedhereinbyreference.
OnJune1,2018,inconnectionwiththeMerger,FairmountSantrolrepaidapproximately(i)$705.9millionofborrowings(includingaccruedandunpaidinterestthereon)underFairmountSantrol’sseniorsecuredtermloanagreement,datedasofNovember1,2017,byandamongFairmountSantrol,BarclaysCapitalInc.,asadministrativeagent,andthelenderspartythereto,and(ii)$35.1millionofborrowings(includingaccruedandunpaidinterestthereon)underFairmountSantrol’sfive-yearasset-basedrevolvingcreditfacility,datedasofNovember1,2017,byandamongFairmountSantrol,PNCCapitalMarketsLLC,asadministrativeagent,andthelenderspartythereto.Inconnectionwiththerepayment,FairmountSantrol’sseniorsecuredtermloanandasset-backedrevolvingcreditfacilitywereterminatedinaccordancewiththeirterms.
Item 2.01. Completion of Acquisition or Disposition of Assets.
TheinformationsetforthintheIntroductoryNoteandItem1.02ofthisCurrentReportisincorporatedhereinbyreference.
CompletionoftheMerger
OnJune1,2018,MergerSubmergedwithandintoFairmountSantrol,withFairmountSantrolcontinuingasthesurvivingcorporation.TheMergerwasimmediatelyfollowedbythemergerofFairmountSantrolwithandintoMergerSubLLC,withMergerSubLLCcontinuingasthesurvivingentityandadirectwhollyownedsubsidiaryofCovia.
PursuanttothetermsoftheMergerAgreement,upontheclosingoftheMerger,eachissuedandoutstandingshareofcommonstockofFairmountSantrol(“FairmountSantrolcommonstock”)wasconvertedintotherighttoreceive(i)0.20fullypaidandnonassessablesharesofcommonstockofCoviawithcashpaidinlieuoffractionalshares,ifany,without
interest,and(ii)approximately$0.73incash.TheissuanceofCoviacommonstockinconnectionwiththeMergerwasregisteredundertheSecuritiesActof1933,asamended,pursuanttotheFormS-4filedbyCoviaanddeclaredeffectivebytheSecuritiesandExchangeCommission(the“SEC”)onApril26,2018.Theproxystatement/prospectusincludedintheFormS-4containsadditionalinformationabouttheMerger.
TheforegoingdescriptionoftheMergerAgreementandtheMergerdoesnotpurporttobecompleteandisqualifiedinitsentiretybyreferencetothefulltextoftheMergerAgreement,whichwasfiledasExhibit2.1totheForm8-K,filedonDecember11,2017andisincorporatedhereinbyreference.AmorecompletedescriptionoftheMergerAgreementisincludedintheProxyStatementfiledonFormDEFM14AonApril26,2018inthesectionentitled“TheMergerAgreement”andisincorporatedhereinbyreference.
Covia’spressrelease,datedJune1,2018,announcingtheconsummationoftheMerger,isfiledasExhibit99.1tothisCurrentReportonForm8-Kandisincorporatedhereinbyreference.
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
OnJune1,2018,inconnectionwiththecompletionoftheMerger,FairmountSantrolnotifiedtheNewYorkStockExchange(the“NYSE”)thattradinginFairmountSantrolcommonstockshouldbesuspendedandthelistingofFairmountSantrolcommonstockontheNYSEshouldberemoved.Inaddition,FairmountSantrolrequestedthattheNYSEfilewiththeSECanapplicationonForm25todelistandderegisterFairmountSantrolcommonstockunderSection12(b)oftheSecuritiesExchangeActof1934(the“ExchangeAct”).OnJune1,2018,theNYSEinformedFairmountSantrolthatithadfiledtheForm25withtheSEC.FairmountSantrolintendstofilewiththeSECaForm15requestingthatthereportingobligationsofFairmountSantrolwithrespecttoFairmountSantrolcommonstockunderSection13(a)and15(b)oftheExchangeActbesuspended.
Item 3.03. Material Modification to the Rights of Security Holders.
TheinformationsetforthunderItems2.01,3.01and5.03ofthisCurrentReportonForm8-Kisincorporatedhereinbyreference.
Item 5.01. Changes in Control of Registrant.
AchangeofcontrolofFairmountSantroloccurredupontheconsummationoftheMerger.TheinformationsetforthunderItems2.01and5.02ofthisCurrentReportonForm8-Kisincorporatedhereinbyreference.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of CertainOfficers.
UpontheconsummationoftheSecondMergerandpursuanttothetermsoftheMergerAgreement,eachofJennifferD.Deckard,WilliamE.Conway,MichaelG.Fisch,CharlesD.Fowler,StephenJ.Hadden,MichaelC.Kearney,WilliamP.Kelly,MatthewF.LeBaron,MichaelE.SandandLawrenceN.SchultzceasedtobedirectorsofFairmountSantrolasaresultofitsmergerwithandintoMergerSubLLC.
Additionally,upontheconsummationoftheSecondMergerandpursuanttothetermsoftheMergerAgreement,eachofJennifferD.Deckard,MichaelF.Biehl,GeraldL.Clancey,BrianJ.Richardson,GeorgeW.Magaud,RobertB.Larson,DanielN.GerberandDavidJ.CrandallceasedtobeexecutiveofficersofFairmountSantrolasaresultofitsmergerwithandintoMergerSubLLC.
KurtDecatisthePresidentandSecretaryofMergerSubLLC,thesurvivingentityintheSecondMerger.
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
InaccordancewiththeMergerAgreement,upontheconsummationoftheMerger,thecertificateofincorporationofFairmountSantrol,asineffectimmediatelypriortotheMerger,wasamendedandrestatedinitsentiretyintheformofthecertificateofincorporationattachedasExhibit3.1heretoandincorporatedbyreferencehereinandthebylawsofFairmountSantrol,asineffectimmediatelypriortotheMerger,wereamendedandrestatedintheirentiretyintheformofthebylawsattachedasExhibit3.2heretoandincorporatedbyreferenceherein.
Additionally,inaccordancewiththeMergerAgreement,upontheconsummationoftheSecondMerger,thecertificateofformationandlimitedliabilitycompanyagreementofMergerSubLLCasineffectimmediatelypriortotheSecondMergerbecamethecertificateofformationandlimitedliabilitycompanyagreement,respectively,ofMergerSubLLC,asthesurvivingcompanyoftheSecondMerger.ThecertificateofformationofMergerSubLLCisattachedasExhibit3.3heretoandincorporatedbyreferencehereinandthelimitedliabilitycompanyagreementofMergerSubLLCisattachedasExhibit3.4heretoandincorporatedbyreferenceherein.
Item 9.01. Financial Statements and Exhibits.
ThefollowingdocumentsarefiledherewithasexhibitstothisCurrentReportonForm8-K:Exhibit Number Description of Exhibit
2.1
AgreementandPlanofMerger,datedasofDecember11,2017,byandamongFairmountSantrolHoldingsInc.,SCR-SibelcoNV,UniminCorporation,BisonMergerSub,Inc.,andBisonMergerSubI,LLC(filedasExhibit2.1totheCurrentReportForm8-KfiledonDecember12,2017andincorporatedhereinbyreference).
3.1 AmendedandRestatedCertificateofIncorporationofFairmountSantrolHoldingsInc.,effectiveasoftheconsummationoftheMerger.
3.2 AmendedandRestatedBylawsofFairmountSantrolHoldingsInc.,effectiveasoftheconsummationoftheMerger.
3.3 CertificateofFormationofBisonMergerSubI,LLC,effectiveasoftheconsummationoftheSecondMerger.
3.4 LimitedLiabilityCompanyAgreementofBisonMergerSubI,LLC,effectiveasoftheconsummationoftheSecondMerger.
Thefollowingexhibitsarefurnishedaspartofthisreport:
99.1 PressReleaseofCoviaHoldingsCorporation,datedasofJune1,2018.
SIGNATURES
PursuanttotherequirementsoftheSecuritiesExchangeActof1934,theregistranthasdulycausedthisreporttobesignedonitsbehalfbytheundersignedhereuntodulyauthorized.
Bison Merger Sub I, LLC(Registrant)
By: /s/KurtDecat KurtDecat PresidentandSecretary
Date:June6,2018
Exhibit 3.1
CERTIFICATE OF INCORPORATION OF
BISON MERGER SUB, INC.
Theundersigned,forthepurposeoforganizingacorporationundertheGeneralCorporationLawoftheStateofDelaware,certifies:
FIRST:ThenameofthecorporationisBisonMergerSub,Inc.(hereinafterreferredtoastheCorporation).
SECOND:TheaddressoftheCorporation’sregisteredofficeintheStateofDelawareisCorporationServiceCompany,251LittleFallsDrive,intheCityofWilmington,CountyofNewCastle,Delaware19808.ThenameofitsregisteredagentatsuchaddressisCorporationServiceCompany.
THIRD:ThepurposeoftheCorporationistoengageinanylawfulactoractivityforwhichcorporationsmaybeorganizedundertheGeneralCorporationLawoftheStateofDelaware(asthesamenowexistsormayhereafterbeamended,theDGCL).
FOURTH:ThetotalnumberofsharesofcapitalstockwhichtheCorporationshallhaveauthoritytoissueisONETHOUSAND(1,000)sharesofcommonstock,parvalue$0.01pershare(CommonStock).EachholderofCommonStockshallhaveonevoteinrespectofeachshareofCommonStockheldbysuchholderofrecordonthebooksoftheCorporationonallmattersonwhichstockholdersoftheCorporationareentitledtovote.
FIFTH:InfurtheranceandnotinlimitationofthepowersconferredbythelawoftheStateofDelaware,thedirectorsoftheCorporationshallhavepowertoadopt,amendorrepealanyoralloftheBylawsoftheCorporation,exceptasmayotherwisebeprovidedintheBylawsoftheCorporation.
SIXTH:Electionsofdirectorsneednotbebywrittenballot,exceptasmayotherwisebeprovidedintheBylawsoftheCorporation.
SEVENTH:AdirectoroftheCorporationshallnotbepersonallyliabletotheCorporationoritsstockholdersformonetarydamagesforbreachoffiduciarydutyasadirector,excepttotheextentsuchexemptionfromliabilityorlimitationthereofisnotpermittedundertheDGCL.NoamendmentorrepealofthisArticleSEVENTHshalladverselyaffectanyrightorprotectionofadirectoroftheCorporationhereunderinrespectofanyactoromissionoccurringpriortosuchamendmentorrepeal.
EIGHTH:ThenumberofdirectorsthatshallconstitutethewholeboardofdirectorsoftheCorporationshallbefixedfromtimetotimeby,orinthemannerprovidedin,theBylawsoftheCorporation(orinanamendmentthereofdulyadoptedbytheBoardofDirectorsoftheCorporationorbythestockholdersoftheCorporation).
NINTH:TheCorporationreservestherighttoamend,repealand/oraddtotheprovisionsofthisCertificateinanymannernoworhereafterpermittedbytheDGCLandallrightsconferredupondirectors,officers,employeesoragentsherebyaresubjecttothisreservation.
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TENTH:WheneveracompromiseorarrangementisproposedbetweenthisCorporationanditscreditorsoranyclassofthemand/orbetweenthisCorporationanditsstockholdersoranyclassofthem,anycourtofequitablejurisdictionwithintheStateofDelawaremay,ontheapplicationinasummarywayofthisCorporationorofanycreditororstockholderthereoforontheapplicationanyreceiverorreceiversappointedforthisCorporationundertheprovisionsofSection291oftheDGCLorontheapplicationoftrusteesindissolutionorofanyreceiverorreceiversappointedforthisCorporationundertheprovisionsofSection279oftheDGCLorderameetingofthecreditorsorclassofcreditors,and/orofthestockholdersorclassofstockholdersofthisCorporation,asthecasemaybe,tobesummonedinsuchmannerasthesaidcourtdirects.Ifamajorityinnumberrepresentingthree-fourthsinvalueofthecreditorsorclassofcreditors,and/orofthestockholdersorclassofstockholdersofthisCorporation,asthecasemaybe,agreetoanycompromiseorarrangementandtoanyreorganizationofthisCorporationasaconsequenceofsuchcompromiseorarrangement,thesaidcompromiseorarrangementandthesaidreorganizationshall,ifsanctionedbythecourttowhichthesaidapplicationhasbeenmade,bebindingonallthecreditorsorclassofcreditors,and/oronallthestockholdersorclassofstockholders,ofthisCorporation,asthecasemaybe,andalsoonthisCorporation.
ELEVENTH:ThenameandmailingaddressoftheCorporation’sSoleIncorporatoris:Name: FaisalHaider
Address:
FreshfieldsBruckhausDeringerUSLLP601LexingtonAvenue,31stFloorNewYork,NewYork10022.
IN WITNESS WHEREOF, theundersignedhassignedthisCertificateofIncorporationthisNovember20,2017.
FaisalHaider,Incorporator
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Exhibit 3.2
BYLAWS OF BISON MERGER SUB, INC.
aDelawarecorporation
ARTICLE IOFFICE AND RECORDS
Delaware Office
1.1 TheCorporationshallhaveandmaintainaregisteredofficeintheStateofDelawareasrequiredbylaw.ThenameandaddressofitsregisteredagentintheStateofDelawareissetforthintheCertificateofIncorporationoftheCorporation(theCertificateofIncorporation).
Other Offices
1.2 TheCorporationmayhavesuchotheroffices,eitherwithinorwithouttheStateofDelaware,astheboardofdirectorsoftheCorporation(theBoardofDirectors)maydesignateorasthebusinessoftheCorporationmayfromtimetotimerequire.
Books and Records
1.3 ThebooksandrecordsoftheCorporationmaybekeptattheCorporation’sprincipalexecutiveofficesoratsuchotherlocationsoutsidetheStateofDelawareasmayfromtimetotimebedesignatedbytheBoardofDirectors.
ARTICLE IISTOCKHOLDERS
Annual Meeting
2.1 TheannualmeetingofstockholdersoftheCorporationfortheelectionofdirectorsandthetransactionofsuchotherbusinessasmayproperlycomebeforeitshallbeheldonsuchdate,atsuchtimeandatsuchplace,eitherwithinorwithouttheStateofDelaware,asmaybefixedbytheBoardofDirectorsandsetforthinthenoticeofmeeting.TheBoardofDirectorsmay,initssolediscretion,determinethatameetingshallnotbeheldatanyplace,butmayinsteadbeheldsolelybymeansofremotecommunicationasauthorizedbySection211(a)oftheGeneralCorporationLawoftheStateofDelaware(theDGCL).
Special Meetings
2.2 SpecialmeetingsofthestockholdersoftheCorporationmaybecalledonlybytheChairmanoftheBoardoftheCorporation,andshallbecalledbytheSecretaryoftheCorporationattherequestoftheBoardofDirectorsoruponreceiptofawrittenrequesttodoso,specifyingthematterormattersappropriateforactionatsuchmeeting,signedbyholdersofrecordofamajorityofsharesofstockthatwouldbeentitledtobevotedonsuchmatterormattersifthemeetingwereheldonthedatesuchrequestisreceivedand
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therecorddatewerethecloseofbusinessontheprecedingday.TheBoardofDirectorsmaydesignatetheplaceofmeetingforanyspecialmeetingofthestockholders,andifnosuchdesignationismade,theplaceofmeetingshallbetheprincipalexecutiveofficeoftheCorporation.
Notice of Meetings
2.3 Wheneverstockholdersarerequiredorpermittedtotakeanyactionatameeting,unlessotherwiseprovidedinSection2.7oftheseBylaws,awrittennoticeofthemeetingshallbegivenwhichshallstatetheplace(ifany),dateandhourofthemeeting,themeansofcommunication(ifany)bywhichstockholdersandproxyholdersmaybedeemedtobepresentinpersonandvoteatsuchmeetingand,inthecaseofaspecialmeeting,thepurposeorpurposesforwhichthemeetingiscalled.
Unlessotherwiseprovidedbylaw,andexceptastoanystockholderdulywaivingnotice,thewrittennoticeofanymeetingshallbegivennotlessthan10normorethan60daysbeforethedateofthemeetingtoeachstockholderentitledtovoteatsuchmeeting.Ifmailed,noticeshallbedeemedgivenwhendepositedinthemail,postageprepaid,directedtothestockholderatsuchstockholder’saddressasitappearsontherecordsoftheCorporation.AnypreviouslyscheduledmeetingofthestockholdersmaybepostponedbyresolutionoftheBoardofDirectors,exceptthatameetingrequestedbytheholdersofrecordofsharesofstockpursuanttoSection2.2oftheseBylawsmaybepostponedonlybytheholdersofrecordthatrequestedthemeeting.
Whenameetingisadjournedtoanothertimeorplace,noticeneednotbegivenoftheadjournedmeetingifthetime,place(ifany)thereofandthemeansofremotecommunications(ifany)bywhichstockholdersandproxyholdersmaybedeemedtobepresentinpersonandvoteatsuchadjournedmeetingareannouncedatthemeetingatwhichtheadjournmentistaken.AttheadjournedmeetingtheCorporationmaytransactanybusinessthatmighthavebeentransactedattheoriginalmeeting.If,however,theadjournmentisformorethan30days,orifaftertheadjournmentanewrecorddateisfixedfortheadjournedmeeting,anoticeoftheadjournedmeetingshallbegiventoeachstockholderofrecordentitledtovoteatthemeeting.
Quorum
2.4 ExceptasotherwiseprovidedbylaworbytheCertificateofIncorporationorbytheseBylaws,atanymeetingofstockholderstheholdersofamajorityofthevotingpoweroftheoutstandingsharesoftheCorporationentitledtovotegenerallyintheelectionofdirectors(theVotingStock),eitherpresentinpersonorrepresentedbyproxy,shallconstituteaquorumforthetransactionofanybusinessatsuchmeeting.ThechairmanofthemeetingoramajorityofthevotingpowerofthesharesofVotingStocksorepresentedmayadjournthemeetingfromtimetotime,whetherornotthereissuchaquorum.NonoticeofthetimeandplaceofadjournedmeetingsneedbegivenexceptasprovidedinthelastparagraphofSection2.3oftheseBylaws.Thestockholderspresentatadulyorganizedmeetingmaycontinuetotransactbusinessuntiladjournment,notwithstandingthewithdrawalofenoughstockholderstoleavelessthanaquorum.
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Voting
2.5 Wheneverdirectorsaretobeelectedatameeting,theyshallbeelectedbyapluralityofthevotescastatthemeetingbytheholdersofstockentitledtovotefortheelectionofdirectors.Inallmattersotherthantheelectionofdirectors,exceptasotherwiserequiredbylaworbytheCertificateofIncorporationorbytheseBylaws,theaffirmativevoteoftheholdersofamajorityofthesharesofstockpresentinpersonorrepresentedbyproxyandentitledtovoteonthesubjectmattershallbetheactofthestockholders.
Exceptasotherwiseprovidedbylaw,orbytheCertificateofIncorporation,eachholderofrecordofstockoftheCorporationentitledtovoteonanymatteratanymeetingofstockholdersshallbeentitledtoonevoteforeachshareofsuchstockstandinginthenameofsuchholderonthestockledgeroftheCorporationontherecorddateforthedeterminationofthestockholdersentitledtovoteatthemeeting.
UnlessotherwiseprovidedintheCertificateofIncorporation,thevotefordirectorsshallbebywrittenballot;provided thattheBoardofDirectorsmayauthorizethatsuchrequirementofawrittenballotmaybesatisfiedbyaballotsubmittedbyelectronictransmissioninaccordancewiththerequirementsofSection211(e)oftheDGCL.Otherwisethemethodofvotingandthemannerinwhichvotesarecountedshallbediscretionarywiththepresidingofficeratthemeeting.
Proxies
2.6 Eachstockholderentitledtovoteatameetingofstockholdersmayauthorizeanotherpersonorpersonstoactforsuchstockholderbyproxy,butnosuchproxyshallbevotedoracteduponafterthree(3)yearsfromitsdate,unlesstheproxyprovidesforalongerperiod.SuchproxymustbefiledwiththeSecretaryoftheCorporationortheSecretary’srepresentativeatorbeforethetimeofthemeeting.
Stockholder Action by Written Consent
2.7 AnyactionrequiredorpermittedtobetakenbythestockholdersoftheCorporationatanannualorspecialmeetingofthestockholdersmaybetakenwithoutameeting,withoutpriornoticeandwithoutavote,byaconsentorconsentsaspermittedbySection228oftheDGCLanddeliveredtotheCorporationasrequiredbySection228(a)oftheDGCL.PromptnoticeofthetakingofthecorporateactionwithoutameetingbylessthanunanimouswrittenconsentshallbegivenbytheSecretaryoftheCorporationtothosestockholderswhohavenotconsentedinwritingandwhoareentitledtoreceivethesameunderSection228(e)oftheDGCL.
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Fixing of Record Date
2.8 TheBoardofDirectors,byresolution,mayfixadatefordeterminingthestockholdersofrecord,whichrecorddateshallnotbeearlierthanthedateofsuchresolution.Therecorddateshallbedeterminedasfollows:
(a) Therecorddatefordeterminingthestockholdersentitledtonoticeofortovoteatanymeetingofstockholdersoranyadjournmentthereofshallnotbemorethan60norlessthan10daysbeforethedateofthemeeting.IfnosuchrecorddateisfixedbytheBoardofDirectors,therecorddateshallbethecloseofbusinessonthedayimmediatelyprecedingthedayonwhichnoticeisgiven,or,ifnoticeiswaived,atthecloseofbusinessonthedayimmediatelyprecedingthedayonwhichthemeetingisheld.TherecorddateshallapplytoanyadjournmentofthemeetingunlesstheBoardofDirectorsfixesanewrecorddatefortheadjournedmeeting.
(b) Therecorddatefordeterminingthestockholdersentitledtoconsenttocorporateactioninwritingwithoutameetingshallnotbemorethan10daysafterthedateuponwhichtheresolutionfixingtherecorddateisadoptedbytheBoardofDirectors.IfnosuchrecorddateisfixedbytheBoardofDirectors,therecorddateshallbedeterminedasfollows:
(i) ifnoprioractionbytheBoardofDirectorsisrequiredundertheDGCL,therecorddateshallbethefirstdateonwhichasignedwritten
consentsettingforththeactiontakenorproposedtobetakenisdeliveredtotheCorporationpursuanttotherequirementsofSection2.7oftheseBylaws;and
(ii) ifprioractionbytheBoardofDirectorsisrequiredundertheDGCL,therecorddateshallbethecloseofbusinessonthedayonwhichtheBoardofDirectorsadoptsaresolutiontakingsuchprioraction.
(c) Therecorddatefordeterminingthestockholdersentitledtoreceivepaymentofanydividendorotherdistributionorallotmentofrightsorthestockholdersentitledtoexerciseanyrightsinrespectofanychange,conversionorexchangeofstock,orforthepurposeofanyotherlawfulaction,shallbenotmorethan60dayspriortosuchaction.IfnosuchrecorddateisfixedbytheBoardofDirectors,therecorddatefordeterminingthestockholdersforanysuchpurposeshallbethecloseofbusinessonthedayonwhichtheBoardofDirectorsadoptstheresolutionrelatingtosuchpurpose.
ARTICLE IIIDIRECTORS
Number and Qualifications
3.1 ThenumberofdirectorsoftheCorporationshallbefixedfromtimetotimebyresolutionoftheBoardofDirectors.ThedirectorsneednotbestockholdersoftheCorporation.ThenumberofdirectorsmaybechangedbyanamendmenttotheseBylaws.
Manner of Election
3.2 ThedirectorsshallbeelectedasprovidedinSection2.5oftheseBylaws.
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Term of Office
3.3 Thetermofofficeofeachdirectorshallbeuntilthenextannualmeetingofthestockholdersanduntilsuchdirector’ssuccessorhasbeendulyelectedandhasqualifiedoruntilsuchdirector’searlierdeath,resignationorremoval.
Duties and Powers; Committees
3.4 TheBoardofDirectorsshallhavecontrolandmanagementoftheaffairsandbusinessoftheCorporation.Thedirectorsmayadoptsuchrulesandregulationsfortheconductoftheirmeetings,fortheconductofstockholdermeetingsandthemanagementoftheCorporationastheymaydeemproper,notinconsistentwithlawortheseBylaws.TheBoardofDirectorsmaydesignateoneormorecommitteesoftheBoardofDirectorsastheBoardofDirectorsmaydetermine,eachcommitteetoconsistofoneormoreofthedirectorsoftheCorporationandtohavesuchpowers,authorityanddutiesasshallfromtimetotimebeprescribedbytheBoardofDirectors.Intheabsenceordisqualificationofamemberofacommittee,thememberormemberspresentatanymeetingandnotdisqualifiedfromvoting,whetherornotsuchmemberormembersconstituteaquorum,mayunanimouslyappointanothermemberoftheBoardofDirectorstoactatthemeetingintheplaceofanysuchabsentordisqualifiedmember.
Meetings
3.5 TheBoardofDirectorsshallmeetfortheelectionorappointmentofofficersandforthetransactionofanyotherbusinessassoonaspracticableaftertheadjournmentoftheannualmeetingofthestockholders,andotherregularmeetingsoftheBoardofDirectorsshallbeheldatsuchtimesastheBoardofDirectorsmayfromtimetotimedetermine.
TheChairmanoftheBoardmay,atanytimeandfromtimetotimecallaspecialmeetingoftheBoardofDirectors.Atthewrittenrequestofanytwodirectors,theChairmanoftheBoardmustcallaspecialmeetingoftheBoardofDirectorstobeheldnotmorethansevendaysafterreceiptofsuchrequest.
Notice of Meetings
3.6 NonoticeneedbegivenofanyregularmeetingoftheBoardofDirectors.Noticeofspecialmeetingsshallbegiventoeachdirectorinpersonorbymailaddressedtohimathislast-knownpostofficeaddress,orbyothermeans,atleasttwobusinessdayspriortothedateofsuchmeeting,specifyingthetimeandplaceofthemeetingandthebusinesstobetransactedthereat.SubjecttoSection229oftheDGCL,atanymeetingatwhichallofthedirectorsshallbepresent,althoughheldwithoutnotice,anybusinessmaytransactedwhichmighthavebeentransactedifthemeetinghadbeendulycalled.
Place of Meeting
3.7 TheBoardofDirectorsmayholditsmeetingseitherwithinorwithouttheStateofDelaware,atsuchplaceasmaybedesignatedinthenoticeofanysuchmeetingand,intheabsenceofsuchdesignation,suchmeetingshallbeheldattheprincipalexecutiveofficesoftheCorporation.
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Quorum
3.8 AtanymeetingoftheBoardofDirectors,thepresenceofamajorityofthetotalnumberofdirectorsshallbenecessarytoconstituteaquorumforthetransactionofbusiness.Shouldaquorumnotbepresent,alessernumbermayadjournthemeetingtosomefuturetime.
Voting
3.9 AtallmeetingsoftheBoardofDirectorsoranycommitteethereof,eachdirectorshallhaveonevoteandtheactofamajoritypresentatameetingatwhichaquorumispresentshallbetheactoftheBoardofDirectorsorofsuchcommittee.
Action Without a Meeting
3.10 AnyactionrequiredorpermittedtobetakenatameetingoftheBoardofDirectorsoranycommitteethereofmaybetakenwithoutameetingifallofthedirectorsorallofthemembersofsuchcommittee,asthecasemaybe,consenttheretointhemannerprovidedinSection141(f)oftheDGCL,andsuchconsentisfiledwiththeminutesofproceedingsoftheBoardofDirectorsorcommitteeasrequiredorpermittedbySection141(f)oftheDGCL.
Compensation
3.11 EachdirectorshallbeentitledtoreceiveforattendanceateachmeetingoftheBoardofDirectorsorofanydulyconstitutedcommitteethereofsuchcompensationand/orexpensereimbursementasisdeterminedbytheBoardofDirectors.
Vacancies
3.12 AnyvacancyoccurringintheBoardofDirectors,whetherbydeath,resignationorotherwise(includinganynewlycreateddirectorship),maybefilledbyamajorityvoteoftheremainingdirectors,althoughlessthanaquorum,orbyasoleremainingdirector.WhenoneormoredirectorsshallresignfromtheBoardofDirectors,effectiveatafuturedate,amajorityofthedirectorstheninoffice,includingthosewhohavesoresigned,shallhavethepowertofillsuchvacancyorvacancies,thevotethereontotakeeffectwhensuchresignation(s)shallbecomeeffective.Thedirectorthuschosenshallholdofficefortheunexpiredtermofsuchdirector’spredecessor,ifany,anduntiltheelectionandqualificationofsuchdirector’ssuccessororuntilsuchdirector’searlierdeath,resignationorremoval.
Removal of Directors
3.13 Anydirectormayberemovedeitherwithorwithoutcause,atanytime,byavoteofthestockholdersholdingamajorityofthevotingpoweroftheVotingStock,atanyspecialmeetingcalledforthatpurpose,orattheannualmeeting.
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Resignation
3.14 Anydirectormayresignatanytime,suchresignationtobemadeinwriting.Anysuchresignationshalltakeeffectimmediately,unlesstheresignationisstatedtobeeffectiveatafuturedate.
ARTICLE IVOFFICERS
Officers and Qualifications
4.1 TheofficersoftheCorporationshallbeaChairmanoftheBoard,aChiefExecutiveOfficer,aPresident,aSecretary,aTreasurer,andsuchotherofficersastheBoardofDirectorsmaydetermine.Anynumberofofficesmaybeheldbythesameperson.
Election
4.2 AllofficersoftheCorporationshallbechosenbytheBoardofDirectorsatitsmeetingheldimmediatelyaftertheannualmeetingofstockholders.
Term of Office
4.3 Eachofficershallholdofficeuntilsuchofficer’ssuccessorisdulyelectedandqualified,oruntilsuchofficer’searlierdeath,resignationorremoval.
Resignation
4.4 AnyofficeroftheCorporationmayresignatanytimebygivingwrittennoticeofsuchresignationtotheBoardofDirectors,theChairmanoftheBoard,thePresidentortheSecretaryoftheCorporation.Anysuchresignationshalltakeeffectatthetimespecifiedthereinor,ifnotimeisspecified,uponreceiptthereofbytheBoardofDirectorsoroneoftheabove-namedofficers.Unlessspecifiedtherein,theacceptanceofsuchresignationshallnotbenecessarytomakeiteffective.
Removal of Officers
4.5 AnyofficermayberemovedeitherwithorwithoutcausebythevoteofamajorityoftheBoardofDirectors.
Duties of Officers
4.6 Theduties,powersandauthorityoftheofficersoftheCorporationshallbeasfollowsandasshallhereafterbesetbyresolutionoftheBoardofDirectors,subjectalwaystothedirectionoftheBoardofDirectors:
Chairman of the Board
(a) TheChairmanoftheBoardshallpresideatallmeetingsoftheBoardofDirectorsandatallmeetingsofthestockholders,andshallcausetobecalledregularandspecialmeetingsofthestockholdersanddirectorsinaccordancewiththerequirementsoftheDGCLandoftheseBylaws.
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Chief Executive Officer
(b) Subjecttosuchdutiesandpowers,ifany,asmaybegivenbytheBoardofDirectorstotheChairmanoftheBoard:
(i) TheChiefExecutiveOfficershallbethechiefexecutiveofficeroftheCorporation.
(ii) TheChiefExecutiveOfficershallpresentateachannualmeetingofthestockholdersanddirectorsareportoftheconditionofthebusinessoftheCorporation.
(iii) TheChiefExecutiveOfficershallappoint,discharge,andfixthecompensationofallemployeesandagentsoftheCorporationotherthanthedulyelectedofficers,subjecttotheapprovaloftheBoardofDirectors.
(iv) TheChiefExecutiveOfficershallenforcetheseBylawsandperformalldutiesincidenttosuchofficeandwhicharerequiredbylaw,shallsee
thatallordersandresolutionsoftheBoardofDirectorsarecarriedintoeffect,and,generally,shallsuperviseandcontrolthebusinessandaffairsoftheCorporation.
(v) TheChiefExecutiveOfficershallhavethepowerandauthoritytoexecuteanddeliverinthenameandonbehalfoftheCorporationanyandalldulyauthorizedagreements,documentsandinstruments.
President
(c) Subjecttosuchdutiesandpowers,ifany,asmaybegivenbytheBoardofDirectorstotheChairmanoftheBoardandtotheChiefExecutiveOfficeroftheCorporation:
(i) ThePresidentshallbethechiefadministrativeofficeroftheCorporation.
(ii) ThePresidentshallcauseallbooks,reports,statements,andcertificatestobeproperlykeptandfiledasrequiredbylaw.
(iii) ThePresidentshallenforcetheseBylawsandperformalldutiesincidenttosuchofficeandwhicharerequiredbylaw,and,generally,shallsuperviseandcontrolthebusinessandaffairsoftheCorporation.
(iv) ThePresidentshallhavethepowerandauthoritytoexecuteanddeliverinthenameandonbehalfoftheCorporationanyandalldulyauthorizedagreements,documentsandinstruments.
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Secretary
(d) (i) TheSecretaryshallkeeptheminutesofthemeetingsoftheBoardofDirectorsandofthestockholdersinappropriatebooks.
(ii)
TheSecretaryshallattendtothegivingofnoticeofspecialmeetingsoftheBoardofDirectorsandofallthemeetingsofthestockholdersoftheCorporation.
(iii)TheSecretaryshallbecustodianoftherecordsandsealoftheCorporationandshallaffixthesealtocorporatepaperswhenrequired.
(iv)
TheSecretaryshallkeepattheprincipalexecutiveofficesoftheCorporationabookorrecordcontinuingthenames,alphabeticallyarranged,ofallpersonswhoarestockholdersoftheCorporation,showingtheirplacesofresidence,thenumberandclassofsharesheldbythemrespectively,andthedateswhentheyrespectivelybecametheownersofrecordthereof.TheSecretaryshallkeepsuchbookorrecordandtheminutesoftheproceedingsofitsstockholdersopendailyduringtheusualbusinesshours,forinspection,withinthelimitsprescribedbylaw,byanypersondulyauthorizedtoinspectsuchrecords.
(v)
TheSecretaryshallattendtoallcorrespondenceandpresenttotheBoardofDirectorsatitsmeetingsallofficialcommunicationsreceivedbytheSecretary.
(vi) TheSecretaryshallperformallotherdutiesincidenttotheofficeofSecretaryoftheCorporation.
Treasurer
(e)(i)
TheTreasurershallhavethecareandcustodyofandberesponsibleforallthefundsandsecuritiesoftheCorporation,andshalldepositsuchfundsandsecuritiesinthenameoftheCorporationinsuchbanksorsafedepositcompaniesastheBoardofDirectorsmaydesignate.
(ii)
TheTreasurershallmake,sign,andendorseinthenameoftheCorporationallchecks,drafts,notes,andotherordersforthepaymentofmoney,andpayoutanddisposeofsuchunderthedirectionofthePresidentortheBoardofDirectors.
(iii)
TheTreasurershallkeepattheprincipalexecutiveofficesoftheCorporationaccuratebooksofaccountofallitsbusinessandtransactionsandshallatallreasonablehoursexhibitbooksandaccountstoanydirectoruponproperapplicationattheofficeoftheCorporationduringbusinesshours.
(iv)
TheTreasurershallrenderareportoftheconditionofthefinancesoftheCorporationateachregularmeetingoftheBoardofDirectorsandatsuchothertimesasshallberequired,andshallmakeafullfinancialreportattheannualmeetingofthestockholders.
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(v) TheTreasurershallperformallotherdutiesincidenttotheofficeofTreasureroftheCorporation.
Other Officers
(f) OtherofficersshallperformsuchdutiesandhavesuchpowersandauthorityasmaybeassignedtothembytheBoardofDirectors.
Vacancies
4.7 AllvacanciesinanyofficemaybefilledbytheBoardofDirectors,eitheratregularmeetingsoratameetingspeciallycalledforthatpurpose.
Compensation of Officers
4.8 TheofficersshallreceivesuchsalaryorothercompensationasmaybefixedbytheBoardofDirectors.
ARTICLE VSEAL
5.1 ThesealoftheCorporationshallbeinaformapprovedbytheBoardofDirectors.
ARTICLE VISHARES
Certificates
6.1 ThesharesoftheCorporationshallberepresentedbycertificatesinaformapprovedbytheBoardofDirectorsandsignedbythePresident,andbytheSecretaryoranAssistantSecretary,ortheTreasureroranAssistantTreasurer.Thecertificatesshallbenumberedconsecutivelyandintheorderinwhichtheyareissued(commencingwiththenumber“1”);theyshallbeboundinabookandshallbeissuedinconsecutiveordertherefrom,andinthemarginthereofshallbeenteredthenameofthepersontowhomtheshare(s)representedbyeachsuchcertificateareissued,thenumberandclassorseriesofsuchshares,andthedateofissue.Eachcertificateshallstatetheregisteredholder’sname,thenumberandclassofsharesrepresentedthereby,thedateofissue,theparvalueofsuchshares,orthattheyarewithoutparvalue;andmayalsobearotherwordingorlegendsrelatingtotheownership,issuanceandtransferabilityofthesharesrepresentedthereby.Anyorallofthesignaturesonanysuchcertificatemaybeafacsimile.
Subscriptions
6.2 SubscriptionstoorpurchasesofthesharesofstockoftheCorporationshallbepaidatsuchtimesandinsuchinstallmentsastheBoardofDirectorsmaydetermine.Ifdefaultshallbemadeinthepaymentofanyinstallmentasrequiredbysuchresolution,theBoardofDirectorsmaydeclarethesharesandallpreviouspaymentsthereonforfeitedfortheuseoftheCorporationinthemannerprescribedbytheDGCL.
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Transfer of Shares
6.3 ThesharesoftheCorporationshallbeassignableandtransferableonlyonthebooksandrecordsoftheCorporationbytheholderofrecord,orbyhisdulyauthorizedattorney,uponsurrenderofthecertificatedulyandproperlyendorsedwithproperevidenceofauthoritytotransfer.TheCorporationshallissueanewcertificateforthesharessurrenderedtothepersonorpersonsentitledthereto.
Return Certificates
6.4 AllcertificatesforsharesreturnedtotheCorporationfortransfershallbemarkedbytheSecretary“CANCELLED,”withthedateofcancellation,andthetransactionshallbeimmediatelyrecordedinthecertificatebookoppositethememorandumoftheirissue.Thereturnedcertificatemaybeinsertedinthecertificatebook.
Holder of Record
6.5 Beforeduepresentmentforregistrationoftransferofacertificateforsharesinregisteredformorofaninstructionrequestingregistrationoftransferofuncertificatedshares,theCorporationmaytreattheholderofrecordasthepersonexclusivelyentitledtovote,receivenotificationsandotherwiseentitledtoalltherightsandpowersofanowner,notwithstandinganynoticetothecontrary.
Lost, Destroyed, Mutilated or Stolen Certificates
6.6 TheCorporationmayissueanewcertificate(ortreatasuncertificatedshare(s))inplaceofanycertificatetheretoforeissuedbyit,allegedtohavebeenlost,stolen,destroyedormutilated,iftheholderofrecordofsuchcertificateorsuchholder’slegalrepresentative(i)submitsawrittenrequestforthereplacementofthecertificate,togetherwithsuchevidenceastheBoardofDirectorsmaydeemsatisfactoryofsuchloss,theft,destructionormutilationofthecertificateandsuchrequestisreceivedbytheCorporationbeforetheCorporationhasnoticethatthecertificatehasbeenacquiredbyaprotectedpurchaser,(ii)ifrequiredbytheBoardofDirectors,fileswiththeCorporationabondsufficienttoindemnifytheCorporationagainstanyclaimthatmaybemadeagainsttheCorporationonaccountoftheallegedloss,theft,destructionormutilationofsuchcertificateortheissuanceofanysuchnewcertificateand(iii)satisfiessuchothertermsandconditionsastheBoardofDirectorsmayfromtimetotimeprescribe.
ARTICLE VIIDIVIDENDS
Declaration of Dividends
7.1 TheBoardofDirectorsatanyregularorspecialmeetingmaydeclaredividendspayableoutoflegallyavailablefundsoftheCorporation,wheneverintheexerciseofitsdiscretionitmaydeemsuchdeclarationadvisable.Suchdividendmaybepaidincash,property,orsharesoftheCorporation.
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ARTICLE VIIIINDEMNIFICATION
Right to Indemnification
8.1 TheCorporationshallindemnifyandholdharmless,tothefullestextentpermittedbyapplicablelawasitpresentlyexistsormayhereafterbeamended,anypersonwhowasorismadeoristhreatenedtobemadeapartyorisotherwiseinvolvedinanythreatened,pending,orcompletedaction,suitorproceeding,whethercivil,criminal,administrativeorinvestigative(aProceeding)byreasonofthefactthatsuchperson,oranyotherpersonforwhomsuchpersonisthelegalrepresentative,isorwasadirector,officeroremployeeoftheCorporationorisorwasservingattherequestoftheCorporationasadirector,officer,employeeoragentofanothercorporationorofapartnership,jointventure,trust,otherenterpriseornon-profitentity,includingservicewithrespecttoemployeebenefitplans(anIndemnitee),againstallliabilityandlosssufferedandexpenses(includingattorneys’fees)reasonablyincurredbysuchIndemniteeifsuchIndemniteeactedingoodfaithandinamannertheIndemniteereasonablybelievedtobeinornotopposedtothebestinterestsoftheCorporation,and,withrespecttoanyProceeding,hadnoreasonablecausetobelievethattheIndemnitee’sconductwasunlawful.TheCorporationshallberequiredtoindemnifyanIndemniteeinconnectionwithaProceeding(orpartthereof)initiatedbysuchIndemniteeonlyiftheinitiationofsuchProceeding(orpartthereof)bytheIndemniteewasauthorizedbytheBoardofDirectors.TheindemnificationprovidedinthisSection8.1andtheadvancementofexpensesprovidedinSection8.2oftheseBylawsshall,unlessotherwiseprovidedwhenauthorizedorratifiedbytheBoardofDirectors,continueastoanIndemniteewhohasceasedtobeadirector,officer,employeeoragentasaforesaidandshallinuretothebenefitoftheheirs,executorsandadministratorsofsuchIndemnitee.AnyindemnificationunderthisSection9.1(unlessorderedbyacourt)shallbemadebytheCorporationonlyasauthorizedinthespecificcaseuponadeterminationthattheindemnificationoftheIndemniteeisproperinthecircumstancesbecausesuchIndemniteehasmettheapplicablestandardofconductsetforthinthisSection.Suchdeterminationshallbemade,withrespecttoanIndemniteewhoisadirectororofficeratthetimeofsuchdetermination,(1)bymajorityvoteofthedirectorswhoarenotpartytosuchProceeding,eventhoughlessthanaquorum,or(2)byacommitteeofsuchdirectorsdesignatedbymajorityvoteofsuchdirectors,eventhoughlessthanaquorumor(3)iftherearenosuchdirectors,orifsuchdirectorssodirect,byindependentlegalcounselinawrittenopinionor(4)bythestockholders.
Advancement of Expenses
8.2 TheCorporationshallpaytheexpenses(includingattorneys’fees)incurredbyanIndemniteeindefendinganyProceedingreferredtoinSection8.1oftheseBylawsinadvanceofitsfinaldisposition;provided thatthepaymentofexpensesincurredbyanIndemniteeinadvanceofthefinaldispositionofsuchProceedingshallbemadeonlyuponreceiptofanundertakingbytheIndemniteetorepayallamountsadvancedifitshouldultimatelybedeterminedthattheIndemniteeisnotentitledtobeIndemnifiedunderthisArticleorotherwise.
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Claims
8.3 IfaclaimforindemnificationoradvancementofexpensesunderthisArticleisnotpaidinfullwithinsixty(60)daysafterawrittenclaimthereforebytheIndemniteehasbeenreceivedbytheCorporation,theIndemniteemayfilesuittorecovertheunpaidamountofsuchclaimand,ifsuccessfulinwholeorinpart,shallbeentitledtobepaidtheexpenseofsuchclaim.InanysuchactiontheCorporationshallhavetheburdenofprovingthattheIndemniteewasnotentitledtotherequestedindemnificationoradvancementofexpenses.
Non-exclusivity of Rights
8.4 TherightsconferredonanyIndemniteebythisArticleshallnotbeexclusiveofanyotherrightswhichsuchIndemniteemayhaveorhereafteracquireunderanystatute,provisionoftheCertificateofIncorporation,theseBylaws,agreement,voteofstockholdersordisinteresteddirectorsorotherwise.
Other Indemnification
8.5 TheCorporation’sobligation,ifany,toindemnifyanyIndemniteewhowasorisservingatitsrequestasadirector,officer,employeeoragentofanothercorporation,partnership,jointventure,trust,enterpriseornon-profitentityshallbereducedbyanyamountsuchIndemniteemaycollectasindemnificationfromsuchothercorporation,partnership,jointventure,trust,enterpriseornon-profitentity.
Amendment or Repeal
8.6 AnyrepealormodificationoftheforegoingprovisionsofthisArticleshallnotadverselyaffectanyrightorprotectionhereunderofanyIndemniteeinrespectofanyactoromissionoccurringpriortothetimeofsuchrepealormodification.
ARTICLE IXAMENDMENTS
Manner of Amending
9.1 TheBylawsmaybealtered,amendedorrepealed,ornewBylawsadoptedbyamajorityoftheentireBoardofDirectorsataregularorspecialmeetingoftheBoard,oranyunanimouswrittenconsentinlieuthereoftakeninaccordancewithSection3.10oftheseBylawsandSection141(f)oftheDGCL.However,anyBylawsadoptedbytheBoardmaybealtered,amended,orrepealedbythestockholders.
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ARTICLE XMISCELLANEOUS
Waiver of Notice
10.1 WhenevernoticeisrequiredtobegivenbytheCertificateofIncorporation,theseBylawsoranyprovisionoftheDGCL,awrittenwaiverthereof,signedbythepersonentitledtosuchnotice,orawaiverbyelectronictransmissionbythepersonentitledtonotice,whetherbeforeorafterthetimerequiredforsuchnotice,shallbedeemedtobeequivalenttosuchnotice.Attendanceofapersonatameetingshallconstituteawaiverofnoticeofsuchmeeting,exceptwhenthepersonattendsameetingfortheexpresspurposeofobjecting,atthebeginningofthemeeting,tothetransactionofanybusinessbecausethemeetingwasnotlawfullycalledorconvened.Neitherthebusinesstobetransactedat,northepurposeof,anyregularorspecialmeetingofthestockholders,directorsormembersofacommitteeofdirectorsneedbespecifiedinanysuchwrittenwaiverofnoticeoranywaiverbyelectronictransmission.
Fiscal Year
10.2 ThefiscalyearofthecorporationshallbefixedbyresolutionoftheBoardofDirectors.
****ENDOFBYLAWS****
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Exhibit 3.3
CERTIFICATE OF FORMATION OF
BISON MERGER SUB I, LLC
Theundersigned,asanauthorizedperson,hasdulyexecutedandisfilingthisCertificateofFormationforthepurposeofformingalimitedliabilitycompanyundertheDelawareLimitedLiabilityCompanyAct:
FIRST :ThenameofthelimitedliabilitycompanyisBisonMergerSubI,LLC(hereinafterreferredtoastheCompany).
SECOND :TheaddressoftheCompany’sregisteredofficeintheStateofDelawareisc/otheCorporationServiceCompany,251LittleFallsDrive,intheCityofWilmington,CountyofNewCastle,Delaware19808.ThenameofitsregisteredagentatsuchaddressistheCorporationServiceCompany.
IN WITNESS WHEREOF, theundersignedhasexecutedthisCertificateofFormationofBisonMergerSubI,LLCthis7thdayofDecember,2017./s/FaisalHaiderName: FaisalHaiderTitle: AuthorizedPerson
Exhibit 3.4
LIMITED LIABILITY COMPANY AGREEMENT OFBISON MERGER SUB I, LLC
ThisLIMITED LIABILITY COMPANY AGREEMENT (thisAgreement),isenteredasofDecember10,2017,byUniminCorporation,aDelawarecorporation(theMember),andBisonMergerSubI,LLC,aDelawarelimitedliabilitycompany(theCompany).
1. N AME A ND P LACE OF B USINESS
ThenameoftheCompanyis“BisonMergerSubI,LLC.”Itsregisteredofficeisc/otheCorporationServiceCompany,251LittleFallsDrive,intheCityofWilmington,CountyofNewCastle,Delaware19808,anditsregisteredagentisTheCorporationServiceCompany.ItsprincipalplaceofbusinessshallbelocatedatsuchplaceorplacesastheMembermaydeterminefromtimetotime.TheMemberherebyacknowledges,approvesandratifiesthefilingwiththeSecretaryofStateoftheStateofDelawaretheCertificateofFormationoftheCompany(theCertificate)pursuanttotheAct(asdefinedbelow)onDecember7,2017.
2. D EFINITIONS A ND R ULES OF C ONSTRUCTION
Definitions
2.1Asusedherein,thefollowingtermsshallhavethefollowingmeanings:
ActmeanstheDelawareLimitedLiabilityCompanyAct,6Del.C.§18-101through§18-1107,asamendedandineffectfromtimetotime.
Affiliateshallmean,inrelationtoanyPerson,anyotherPersoncontrolled,directlyorindirectly,bysuchfirstPerson,anyotherPersonthatcontrols,directlyorindirectly,suchfirstPersonoranyotherPersondirectlyorindirectlyundercommoncontrolwithsuchfirstPerson.Forthispurpose,controlofanyentityshallmeanownershipofamajorityofthevotingpoweroftheentity.
Agreementhasthemeaningsetforthinthepreamble.
CertificatehasthemeaningsetforthinSection1.
Companyhasthemeaningsetforthinthepreamble.
EventofWithdrawalhasthemeaningsetforthinSection12.2(a).
FiscalYearhasthemeaningsetforthinSection8.2.
InterestmeanstheMember’sshareoftheprofitsandlossesoftheCompanyanditsrighttoreceivedistributionsoftheCompany’sassets;theInterestshallbedividedinto100authorizedUnits,allofwhichshallbeissuedtotheMemberinaccordancewithSection4hereof.
LiquidatorhasthemeaningsetforthinSection12.2(b).
Memberhasthemeaningsetforthinthepreamble.
Personmeansanyindividual,corporation,limitedorgeneralpartnership,jointventure,limitedliabilitycompany,limitedliabilitypartnership,association,joint-stockcompany,trust,unincorporatedorganizationorotherorganization,whetherornotalegalentity,andanygovernmentalagencyorregulatoryauthority.
UnitshasthemeaningsetforthinthedefinitionofInterest.
Rules of Construction
2.2 AsusedinthisAgreement:
(a) thedefinitionsoftermshereinshallapplyequallytothesingularandpluralformsofthetermsdefined;
(b) wheneverthecontextmayrequire,anypronounshallincludethecorrespondingmasculine,feminineandneuterforms;
(c) thewords“include”,“includes”and“including”shallbedeemedtobefollowedbythephrase“withoutlimitation”;
(d) theword“will”shallbeconstruedtohavethesamemeaningandeffectastheword“shall”;
(e) anydefinitionoforreferencetoanyagreement,instrumentorotherdocumenthereinshallbeconstruedasreferringtosuchagreement,instrumentorotherdocumentasfromtimetotimeamended,supplemented,restatedorotherwisemodified(subjecttoanyapplicablerestrictionsonsuchamendments,supplementsormodifications);
(f) anyreferencehereintoanyPersonshallbeconstruedtoincludesuchPerson’ssuccessorsandpermittedassigns;
(g) thewords“herein”,“hereof”and“hereunder”,andwordsofsimilarimport,shallbeconstruedtorefertothisAgreementinitsentiretyandnottoanyparticularprovisionhereof;
(h) allreferenceshereintoSectionsshallbeconstruedtorefertoSectionsofthisAgreement;and
(i) theheadingsusedinthisAgreementareforconvenienceofreferenceonlyandarenottoaffecttheconstructionofortobetakenintoconsiderationininterpretingthisAgreement.
3. B USINESS , P URPOSE , AND T ERM OF THE C OMPANY
Character of the Business
3.1ThepurposeoftheCompanyshallbetoengageinanylawfulbusiness,purposeoractivitypermittedbytheAct,asdirectedfromtimetotimebytheMember.
Term of the Company
3.2ThetermoftheCompanyshallcommenceonthedatetheCertificateisfiledwiththeDelawareSecretaryofStateinaccordancewiththeprovisionsoftheActandshallcontinueinperpetualexistenceunlessanduntildissolvedandterminatedpursuanttothisAgreement.
Other Qualifications
3.3TheCompanyshallfileorrecordsuchdocumentsandtakesuchotheractionsunderthelawsofanyjurisdictionasarenecessaryordesirabletopermittheCompanytodobusinessinanysuchjurisdictionasisselectedbytheCompanyandtopromotethelimitationofliabilityfortheMemberinanysuchjurisdiction.
4. C APITAL C ONTRIBUTION ; S UBSCRIPTION
Capital Contribution
4.1 TheMemberherebymakesacontributiontothecapitaloftheCompanyinanamountequalto$1inexchangeforissuancetoitoftheUnitsdescribedinSection4.2,thereceiptofwhichisherebyacknowledgedbytheCompanyasofthedatehereof.TheMemberisundernoobligationtomakeadditionalcontributionstotheCompanybutmaymakesuchadditionalcontributionsofcashorpropertyfromtimetotimetotheCompanyastheMembermayfromtimetotimedetermineinitssolediscretion.
Subscription
4.2 InconsiderationofthecapitalcontributionmadepursuanttoSection4.1,theMemberherebysubscribesforandaccepts100Units,constitutingalloftheCompany’sauthorized“limitedliabilitycompanyinterests”(asdefinedintheAct),andtheCompanyherebyacceptssuchsubscription.TheCompanyherebyconfirmsthat100UnitsissuedtotheMemberaredulyandvalidlyissuedlimitedliabilitycompanyinterests,andareissuedtotheMemberfreeandclearofliensorotherencumbrances,withtheMemberherebyreceivinggoodandvalidtitlethereto.TheMemberconfirmstotheCompanythatitunderstandsthatthe100Unitsissuedtoit(a)havenotbeenregisteredorqualifiedunderanyUSfederalorStatesecuritieslaws,andarebeingissuedtotheMemberpursuanttoanexemptionfromsuchregistrationandqualificationrequirements;(b)arebeingacquiredfortheMember’sownaccountforinvestment,andnotwithaviewtothe
unlawfulresaleordistributionthereof;and(c)arecharacterizedas“restrictedsecurities”undertheUnitedStatesfederalsecuritieslaws(andtheMemberisfamiliarwiththeresalelimitationsimposedthereby).
5. D ISTRIBUTIONS
5.1CashoftheCompanywhichisnotrequired,inthejudgmentoftheMember,tomeetobligationsoftheCompany,norreasonablynecessaryforfutureCompanyoperations,shallbedistributedtotheMemberinsuchamountsandatsuchtimesasdeterminedbytheMember.
6. M ANAGEMENT OF THE C OMPANY
Management by the Member
6.1TheMembershallbesolelyandexclusivelyresponsibleforthemanagementoftheCompany,andshallhavethefullestright,power,andauthoritytomanage,direct,andcontrolallofthebusinessandaffairsoftheCompanyandtotransactbusinessonitsbehalfortosignforitoronitsbehalforotherwisetobindtheCompany.
Officers and Administrators
6.2TheMembermay,fromtimetotime,designateoneormoreofficerswithsuchtitlesasmaybedeterminedbytheMembertoactinthenameoftheCompanywithsuchauthorityasmaybedelegatedtosuchofficer(s)bytheMember.EachofficershallactpursuanttoitsdelegatedauthorityuntilsuchofficerisremovedbytheMember,andtheMembermayremoveanyofficeroftheCompanywithorwithoutcause.AnyactiontakenbyanofficerdesignatedbytheMemberthatiswithintheauthoritydelegatedbytheMembertosuchofficershallconstitutetheactofandservetobindtheCompany.
7. L IABILITY OF M EMBER
ExceptasotherwiseexpresslyprovidedintheAct,theexpenses,debts,obligationsandliabilitiesoftheCompany,whetherarisingincontract,tortorotherwise,shallbesolelythedebts,obligationsandliabilitiesoftheCompany,andtheMembershallnotbeobligatedpersonallyforanysuchdebt,obligationorliabilityoftheCompany.ExceptasotherwiseexpresslyprovidedintheAct,theliabilityoftheMemberforcapitalcontributionsshallbelimitedtotheamountofcapitalcontributionsrequiredtobemadebytheMemberinaccordancewiththeprovisionsofthisAgreement,butonlywhenandtotheextentthesameshallbecomeduepursuanttotheprovisionsofthisAgreement.
8. A CCOUNTING AND F ISCAL M ATTERS
Books and Records
8.1TheMembershallkeep,orshallcausetobekept,full,accurate,complete,andproperbooksandrecordsofalloftheoperationsoftheCompany.
Fiscal Year
8.2ThefiscalyearoftheCompanyforfinancialand,totheextentapplicable,taxpurposes(theFiscalYear)shallbethecalendaryear;providedthatthelastFiscalYearoftheCompanyshallendonthedateonwhichtheCompanyisterminated.
9. T AX M ATTERS
Tax Characterization of the Company;
9.1TheMemberintendsthatforU.S.federal(and,totheextentpermittedbylaw,stateandlocal)incometaxpurposes,whiletheMemberisthesoleowneroftheInterests,theCompanyshallbedisregardedasanentityseparatefromtheMember.
Tax Reporting
9.2TheCompanyshallprepareandtimelyfilealltaxreturnsandreportsrequiredtobefiledbyit.
10. S UBSTITUTE M EMBERS
10.1TheMembermaysell,assign,give,hypothecate,pledge,transfer,bequeath,orotherwisedisposeofanyoralltheUnitsissuedtoit,inwholeorinpart,voluntarily,involuntarily,byoperationoflaw,orotherwise,toanyotherPerson.
10.2If,atanytimeitisproposedthattheCompanyhavetwoormoremembers(whetherbytransferofsomebutnotalloftheUnitsoftheMemberorotherwise),theMember,theCompany,andsuchotherPersonscontemplatedtobemembersoftheCompany,shall,inconnectionwithsuchtransactions(andasaconditiontotheeffectivenessthereof),enterintoanamendmenttothisAgreementasmaybenecessarytoreflecttheiragreementasmembersofamulti-memberDelawarelimitedliabilitycompany,includingamendmentsconcerningtheallocationoftheCompany’sprofitsandlosses,managementandgovernancerights,transferrestrictionsandotherappropriatematters.
11. E XCULPATION AND I NDEMNIFICATION
(a) TheMembershallnotbeliabletotheCompanyforanylosses,claims,damagesorliabilitiesarisingfrom,relatingto,orinconnectionwith,thisAgreementorthebusinessoraffairsoftheCompany,exceptasaredeterminedbyfinaljudgmentofacourtofcompetentjurisdictiontohaveresultedfromtheMember’sgrossnegligence,willfulmisconductorfromthefailurebytheMembertomakeacapitalcontributionrequiredtobemadebyitpursuanttothetermshereof.
(b) TheCompanyshall,tothefullestextentpermittedbyapplicablelaw,indemnifyandholdharmlesstheMemberagainstanylosses,claims,damagesorliabilities(includinglegalfeesandexpensesandenforcementexpenses)towhichthe
Membermaybecomesubjectinconnectionwithanymatterarisingfrom,relatingto,orinconnectionwith,thisAgreementorthebusinessoraffairsoftheCompany,exceptforanysuchlosses,claims,damagesorliabilitiesasaredeterminedbyfinaljudgmentofacourtofcompetentjurisdictiontohaveresultedfromtheMember’sgrossnegligence,willfulmisconductorfromthefailurebytheMembertomakeacapitalcontributionrequiredtobemadebyitpursuanttothetermshereof.IftheMemberbecomesinvolvedinanycapacityinanyaction,proceedingorinvestigationinconnectionwithanymatterarisingfrom,relatingto,orinconnectionwiththisAgreementorthebusinessoraffairsoftheCompany,whetherornotpendingorthreatenedandwhetherornottheMemberisapartythereto,theCompanywillperiodicallyreimburse(ormakeanadvancementto)theMemberforitsactuallegalandotherexpenses(includingthecostofanyinvestigationandpreparation)incurredinconnectiontherewithuponsubmissionbytheMemberofpaidreceiptsorotherevidenceofsuchexpensessatisfactorytotheCompany;providedthattheMembershallpromptlyrepaytotheCompanytheamountofanysuchreimbursedexpensespaidtoittotheextentthatitshallultimatelybedeterminedthattheMemberisnotentitledtobeindemnifiedbytheCompanyinconnectionwithsuchaction,proceedingorinvestigationasprovidedintheexceptioncontainedintheimmediatelyprecedingsentence.Ifforanyreason(otherthanthegrossnegligenceorwillfulmisconductoftheMember’sfailuretomakearequiredcapitalcontribution)theforegoingindemnificationisunavailabletotheMember,orinsufficienttoholditharmless,thentheCompanyshallcontributetotheamountpaidorpayablebytheMemberasaresultofsuchloss,claim,damageorliabilityinsuchproportionasisappropriatetoreflecttherelativebenefitsreceivedbytheCompanyontheonehandandtheMemberontheotherhandor,ifsuchallocationisnotpermittedbyapplicablelaw,toreflectnotonlytherelativebenefitsreferredtoabovebutalsoanyotherrelevantequitableconsiderations.
(c) NotwithstandinganythingelsecontainedinthisAgreement,thereimbursement,advancement,indemnityandcontributionobligationsoftheCompanyunderthisSection11shall(i)beinadditiontoanyliabilitythattheCompanymayotherwisehave,(ii)extenduponthesametermsandconditionstothedirectors,officers,trustees,committeemembers,employees,stockholders,members,partners,agentsandrepresentativesoftheMemberandofeachAffiliateoftheMember,(iii)bebindinguponandinuretothebenefitofanysuccessorsorassignspermittedunderthisAgreement,heirsandpersonalrepresentativesoftheMember,and(iv)belimitedtotheassetsoftheCompany.
(d) TheforegoingprovisionsofthisSection11shallsurviveanyterminationofthisAgreement.
12. D ISSOLUTION
Withdrawal
12.1 TheMembermaywithdrawfromtheCompanyatanytime.
Dissolution of the Company
12.2 (a)TheCompanyshallbedissolved,woundupandterminatedasprovidedhereinuponthe(i)withdrawal,resignationorbankruptcyoftheMember,(ii)theterminationofthelegalexistenceoftheMemberortheoccurrenceofanyothereventwhichterminatesthecontinuedmembershipoftheMemberor(iii)theentryofadecreeofjudicialdissolutionunderSection18-802oftheAct(anEventofWithdrawal).
(b) IntheeventofthedissolutionoftheCompanyforanyreason,theMemberoritssuccessorsorassigns(theLiquidator)shallcommencetowinduptheaffairsoftheCompanyandtoliquidatetheCompanyassets.
(c) TheLiquidatorshallhavealloftherightsandpowerswithrespecttotheassetsandliabilitiesoftheCompanyinconnectionwiththeliquidationandterminationoftheCompanythatitwouldhavewithrespecttotheassetsandliabilitiesoftheCompanyduringthetermoftheCompany.
(d) Notwithstandingtheforegoing,aLiquidatorwhichisnottheMembershallnotbedeemedtheMemberintheCompanyandshallnothaveanyoftheeconomicinterestsintheCompanyoftheMember.
13. A MENDMENT OF A GREEMENT
AmendmentstothisAgreementmaybemadeonlypursuanttoaninstrumentsignedbytheMemberandtheCompany.
14. M ISCELLANEOUS
Nature of Interest of Members
14.1TheInterestoftheMemberintheCompanyispersonalproperty.
Applicable Law
14.2NotwithstandingtheplacewherethisAgreementmaybeexecutedbyanyofthepartieshereto,thisAgreementshallbeconstruedinaccordancewith,andthisAgreementandallmattersarisingoutoforrelatinginanywaywhatsoever(whetherincontract,tortorotherwise)tothisAgreement(includingtherightsandobligationsoftheMemberandanyclaimsanddisputesrelatingthereto),shallbegovernedby,thelawoftheStateofDelaware.
Successors in Interest
14.3Eachandallofthecovenants,agreements,terms,andprovisionsofthisAgreementshallbebindinguponandinuretothebenefitoftheMemberand,totheextentpermittedbythisAgreement,itsheirs,executors,administrators,personalrepresentatives,successorsandassigns.
Severability
14.4AnyprovisionofthisAgreementwhichisinvalid,illegal,orunenforceableinanyrespectinanyjurisdictionshall,astosuchjurisdiction,beineffectivetotheextentofsuchinvalidity,illegality,orunenforceabilitywithoutinanywayaffectingthevalidity,legality,orenforceabilityoftheremainingprovisionshereof,andanysuchinvalidity,illegality,orunenforceabilityinanyjurisdictionshallnotinvalidateorinanywayaffectthevalidity,legality,orenforceabilityofsuchprovisionsinanyotherjurisdiction.
Rights and Remedies Cumulative
14.5TherightsandremediesprovidedbythisAgreementaregiveninadditiontoanyotherrightsandremediestheMembermayhavebylaw,statute,ordinanceorotherwise.Allsuchrightsandremediesareintendedtobecumulative.
Counterparts, etc.
14.6ThisAgreementmaybeexecutedbyhandwrittensignatureorbyS-signature,andmaybesoexecutedinmultiplecounterparts,eachofwhich,whensoexecutedanddelivered,shallbeanoriginal,butsuchcounterpartsshalltogetherconstituteoneandthesameinstrumentandagreement.CopiesofallorpartofthisAgreement,includingsignaturesthereto,whicharetransmittedbyfacsimileorelectronicmail,shallbepresumedvalid;andfacsimile,electronicorPDFtransmittedsignatureshallbedeemedtohavethefullforceandeffectoftheoriginalinksignatures.
IN WITNESS WHEREOF ,theundersignedhasexecutedthisAgreementasofthedayandyearfirstabovewritten.Member: Unimin Corporation
By: Name: AndrewEichTitle: SVP
Company: Bison Merger Sub I, LLCBy: Unimin Corporation, its sole member
By: Name: AndrewEichTitle: SVP
Exhibit 99.1
FOR IMMEDIATE RELEASE
COVIA TO COMMENCE TRADING FOLLOWING COMBINATION OF UNIMIN AND FAIRMOUNT SANTROL
CHESTERLAND, Ohio, June 1, 2018 –CoviaHoldingsCorporation(NYSE:CVIA)(“Covia”)announcedtodaythecompletionofthepreviouslyannouncedstrategiccombinationbetweenUniminCorporation(“Unimin”)andFairmountSantrol.CoviawillcommencetradingtodayontheNewYorkStockExchange(“NYSE”)underthetickersymbol“CVIA”.Inconnectionwiththecompletionofthetransaction,FairmountSantrolcommonstockceasedtradingpriortothemarketopeningtodayandwillbedelistedfromtheNYSE.
Underthetermsofthemergeragreement,foreachshareofFairmountSantrol,stockholderswillreceiveapproximately$0.73incashconsiderationand0.2sharesofCoviacommonstock.AnyremainingFairmountSantrolsharesthatcannotbeconvertedintoawholeCoviasharewillberedeemedforcash.StockholdersshouldexpecttoreceiveallcashconsiderationnolaterthanJune8,2018.AsofJune1,2018,Coviahas132.5millionfullydilutedsharesoutstanding.Approximately65%ofCoviacommonstockisownedbySCR-SibelcoNV.
JennifferDeckard,PresidentandChiefExecutiveOfficerofCovia,said,“TodayisahistoricdayforCoviaandwewouldliketothankourstockholders,employees,customersandpartnersfortheirsupportincompletingthissignificantachievement.”Deckardcontinued,“AswemakeourdebutasCovia,thestrongfoundationbuiltbyourtwohighlycomplementarylegacyorganizationsunderpinsanindustryleader,stronglypositionedtoservecustomers’needsthroughourbroadarrayofhigh-qualityproducts,distinctivetechnicalcapabilities,andtheindustry’smostcomprehensiveproductionanddistributionnetwork.Welookforwardtoutilizingtheseuniquecompetitiveadvantagestoachieveournear-termsynergygoalsandtocreatesignificantlong-termvalueforallofourstakeholders.”
About Covia
CoviaisaleadingproviderofmineralsandmaterialsolutionsfortheIndustrialandEnergymarkets,representingthelegacyandcombinedstrengthsfromtheJune2018mergerofUniminandFairmountSantrol.TheCompanyisaleadingproviderofdiversifiedmineralsolutionstotheglass,ceramics,coatings,polymers,construction,waterfiltration,sportsandrecreationmarkets.TheCompanyoffersabroadarrayofhigh-qualityproducts,includinghigh-puritysilicasand,nephelinesyenite,feldspar,clay,kaolin,lime,resinsystemsandcoatedmaterials,deliveredthroughitscomprehensivedistributionnetwork.CoviaoffersitsEnergycustomersanunparalleledselectionofproppantsolutions,additives,andcoatedproductstoenhancewellproductivityandtoaddressbothsurfaceanddown-holechallengesinallwellenvironments.Coviahasbuiltlong-standingrelationshipswithabroadcustomerbaseconsistingofblue-chipcustomers.UnderpinningthesestrengthsisanunwaveringcommitmenttosafetyandtosustainabledevelopmentfurtherenhancingthevaluethatCoviadeliverstoallofitsstakeholders.Formoreinformation,visitCoviaCorp.com.
Forward-Looking Statements
Certainstatementscontainedinthispressreleaseconstitute“forward-lookingstatements”withinthemeaningofthePrivateSecuritiesLitigationReformActof1995.Theseforward-lookingstatementsrepresenttheCompany’sexpectationsorbeliefsconcerningfutureevents,anditispossiblethattheresultsdescribedinthispressreleasewillnotbeachieved.Theseforward-lookingstatementsaresubjecttorisks,uncertaintiesandotherfactors,manyofwhichareoutsideoftheCompany’scontrol,thatcouldcauseactualresultstodiffermateriallyfromtheresultsdiscussedintheforward-lookingstatements.Thesefactorsinclude:theabilityofUniminandFairmountSantroltointegratetheirbusinessessuccessfullyandtoachieveanticipatedsynergiesandtheanticipatedcost,timingandcomplexityof
integrationefforts;potentialadversereactionsorchangestobusinessrelationshipsresultingfromthecompletionofthemerger;theactualresultsofoperationsandfinancialconditionoftheCompanyfollowingthemergerascomparedtotheunauditedproformacombinedfinancialinformationincludedintheRegistrationStatementonFormS-4relatedtothemerger;SCR-SibelcoNV,theholderofamajorityoftheCompany’scommonstock,willhavesignificantinfluenceovertheCompany;changesinprevailingeconomicconditions,includingcontinuingpressureonandfluctuationsindemandfor,andpricingof,ourproducts;lossof,orreductioninbusinessfromtheCompany’slargestcustomersortheirfailuretopaytheCompany;possibleadverseeffectsofbeingleveraged,includinginterestrate,eventofdefaultorrefinancingrisks,aswellaspotentiallylimitingtheCompany’sabilitytoinvestincertainmarketopportunities;thelevelofcashflowsgeneratedtoprovideadequateliquidity;ourabilitytosuccessfullydevelopandmarketnewproducts;ourrightsandabilitytomineourpropertyandourrenewalorreceiptoftherequiredpermitsandapprovalsfromgovernmentauthoritiesandotherthirdparties;ourabilitytoimplementandrealizeefficienciesfromcapacityexpansionplans,facilityreactivationandcostreductioninitiativeswithinourtimeandbudgetaryparameters;increasingcostsoralackofdependabilityoravailabilityoftransportationservicesorinfrastructureandgeographicshiftsindemand;changinglegislativeandregulatoryinitiativesrelatingtoourbusiness,includingenvironmental,mining,healthandsafety,licensing,reclamationandotherregulationrelatingtohydraulicfracturing(andchangesintheirenforcementandinterpretation);silica-relatedhealthissuesandcorrespondinglitigation;seasonalandsevereweatherconditions;andotheroperatingrisksthatarebeyondourcontrol.
Anyforward-lookingstatementspeaksonlyasofthedateonwhichitismade,and,exceptasrequiredbylaw,theCompanydoesnotundertakeanyobligationtoupdateorreviseanyforward-lookingstatement,whetherasaresultofnewinformation,futureeventsorotherwise.Newfactorsemergefromtimetotime,anditisnotpossiblefortheCompanytopredictallsuchfactors.Whenconsideringtheseforward-lookingstatements,youshouldkeepinmindtheriskfactorsandothercautionarystatementsinCoviaHoldingsCorporation’sfilingswiththeSecuritiesandExchangeCommission(“SEC”).TheriskfactorsandotherfactorsnotedinourfilingswiththeSECcouldcauseouractualresultstodiffermateriallyfromthosecontainedinanyforward-lookingstatement.
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