Category: Finance

Press Releases

Park Lawn Announces Mailing of Meeting Materials and Receipt of Interim Order in Respect of Going Private Transaction

TORONTO, ONTARIO – July 8, 2024 — Park Lawn Corporation (TSX: PLC, PLC.U) (“Park Lawn” or “PLC“) is pleased to announce the mailing of its notice of meeting, management information circular (the “Circular“), form of proxy and letter of transmittal (collectively, the “Meeting Materials“) to the shareholders of Park Lawn (the “Shareholders“) in connection with the special meeting of Shareholders scheduled to be held on July 29, 2024 (the “Special Meeting”).  The Meeting Materials were mailed to Shareholders of record as of June 18, 2024 in connection with the Special Meeting to consider and, if deemed advisable, pass a special resolution (the “Arrangement Resolution“), approving the proposed plan of arrangement (the “Arrangement“) involving Viridian Acquisition Inc.(the “Purchaser“), a wholly-owned subsidiary

Park Lawn Announces Going Private Transaction with Homesteaders Life Company and Birch Hill Equity Partners

Park Lawn Shareholders to Receive Consideration of $26.50 Per Share in Cash TORONTO, ONTARIO – June 3, 2024 — Park Lawn Corporation (TSX: PLC, PLC.U) (“Park Lawn” or “PLC“) today announced that it has entered into an arrangement agreement (the “Arrangement Agreement“) with Viridian Acquisition Inc. (the “Purchaser“), an affiliate of Homesteaders Life Company (“Homesteaders“) and Birch Hill Equity Partners Management Inc. (“Birch Hill” and together with Homesteaders, the “Purchaser Group“), pursuant to which the Purchaser will acquire all of the issued and outstanding common shares of Park Lawn (the “Shares” and each, a “Share“) for a price of $26.50 per Share (the “Consideration“) in an all-cash transaction valued at approximately $1.2 billion, including Park Lawn’s net debt (the “Transaction“).

Park Lawn Corporation Announces Q1 2024 Financial Results

TORONTO, ONTARIO/May 9, 2024/ACCESSWIRE – Today, Park Lawn Corporation (TSX: PLC, PLC.U) (“Park Lawn” or “PLC”) announced its financial operating results for the first quarter ended March 31, 2024 (“Q1”). Financial Results for the Three-Month Period Ended March 31, 2024: “We are proud of our first quarter operating results and are excited to see the hard work and efforts of our team beginning to take shape,” said J. Bradley Green, Chief Executive Officer.  Mr. Green further elaborated, “As you have heard in our commentary over the past few quarters, with the reshaping of our platform as a result of the disposition of certain legacy assets which was completed in December, the implementation of a refined operating model, a new and

Park Lawn Corporation Announces Fourth Quarter and Year-End 2023 Results, Appointment of New Director and its 2024 Financial Outlook

TORONTO, ONTARIO/March 7, 2024/ACCESSWIRE – Today, Park Lawn Corporation (TSX: PLC, PLC.U) (“Park Lawn” or “PLC”) announced its financial operating results for the fourth quarter (“Q4”) and year ended December 31, 2023, the appointment of a new director and its 2024 financial outlook. Financial Results from Q4 and the Year Ended 2023 “Our focus on operational efficiency and cost management contributed to improved profitability and bottom-line growth during the 2023 calendar year,” stated J. Bradley Green, Chief Executive Officer. Mr. Green continued, “In addition, during the fourth quarter, we achieved an important milestone in the Company’s history through the strategic disposition of certain legacy businesses which has allowed us to reshape our platform and reallocate resources to support a more

Park Lawn Corporation Announces Q3 2023 Results

TORONTO, ONTARIO (November 9, 2023) – Today, Park Lawn Corporation (TSX: PLC; PLC.U) (“PLC”, “Park Lawn”, or the “Company”) announced its financial operating results for the third quarter (“Q3”) ended September 30, 2023. Financial Results for the Three-Month Period Ended September 30, 2023[1]: “We had a solid operational performance in the third quarter,” said J. Bradley Green, Chief Executive Officer of PLC.  Mr. Green continued, “While the death rate continued to pull back, resulting in an overall decrease in call volume as compared to the third quarter of 2022, our operations were able to largely offset this trend through sustained growth in market share and modestly increasing our average revenue per contract on the funeral side and growing pre-need sales

Park Lawn Corporation Announces Q2 2023 Results

TORONTO, ONTARIO (August 10, 2023) – Today, Park Lawn Corporation (TSX: PLC; PLC.U) (“PLC”, “Park Lawn”, or the “Company”) announced its financial operating results for the second quarter (“Q2”) ended June 30, 2023. Financial Results for the Three-Month Period Ended June 30, 2023[1]: J. Bradley Green, Chief Executive Officer of PLC, commented, “We are proud of our operating results this quarter as our overall performance demonstrates the ability of our team to incrementally improve their business operations in a challenging macroeconomic environment while simultaneously staying true to our mission to deliver the highest level of service to our families.”  Mr. Green continued, “Despite a slightly depressed death rate, we were nonetheless able to maintain strong market share in the communities

Park Lawn Corporation Announces Fourth Quarter 2022 Financial Results and Achievement of 2022 Aspirational Growth Target

TORONTO, ONTARIO (March 2, 2023) – Today, Park Lawn Corporation (TSX: PLC; PLC.U) (“PLC”, “Park Lawn”, or the “Company”) announced its financial operating results for the fourth quarter (“Q4”) and year ended December 31, 2022. Financial Results from Q4 and the Year Ended 2022 J. Bradley Green, Chief Executive Officer of PLC commented, “We are pleased with our fourth quarter 2022 year-end operating results as compared to the heavily COVID-19 impacted fourth quarter and year-end 2021. While the Centers for Disease Control and Prevention identified a sharp decline in the U.S. national death during the year, our decrease in call volume was notably less than the national decline, as well as that of our peers. Further, as we experienced this

Park Lawn Corporation Announces Normal Course Issuer Bid

TORONTO, ONTARIO – (August 11, 2022) – Park Lawn Corporation (TSX:PLC, PLC.U) (“PLC“) announced today that it has received approval from the Toronto Stock Exchange (the “TSX“) respecting the establishment of a normal course issuer bid (“NCIB“). Under the NCIB, PLC may, during the twelve-month period commencing August 17, 2022 and ending August 16, 2023 purchase up to 3,385,439 common shares (“Common Shares“) representing 10% of its public float of issued and outstanding Common Shares. As at August 8, 2022, there are 34,073,818 Common Shares issued and outstanding and 33,854,396 Common Shares estimated in the “public float”, calculated in accordance with TSX rules. All Common Shares purchased by PLC under the NCIB will be cancelled or transferred to and held

Park Lawn Corporation Announces Results of 2022 Annual and Special Meeting of Shareholders

TORONTO, ONTARIO (June 1, 2022) – Park Lawn Corporation (TSX: PLC, PLC.U) (“Park Lawn” or the “Company”) announced the results from its Annual and Special Meeting of Shareholders (the “Meeting”) held earlier today. A total of 22,773,765 of Park Lawn’s common shares (“Shares”) (representing approximately 66.97% of the issued and outstanding Shares as of the record date for the meeting) were represented at the Meeting. The vote was conducted by online ballot. Each of Park Lawn’s eight directors were elected at the Meeting by a resolution passed by the shareholders present or represented by proxy at the Meeting, to hold office until the close of the next annual meeting of shareholders. The results of the vote are detailed below: Nominee

Park Lawn Corporation Releases Q1 2022 Results

TORONTO, ONTARIO (May 12, 2022) – Today, Park Lawn Corporation (TSX: PLC; PLC.U) (“PLC” or the “Company”) announced its results for the first quarter (“Q1”) ended March 31, 2022. The Company had a solid performance achieving strong growth in Net Revenue, Net Earnings, Adjusted Net Earnings1, and Adjusted EBITDA1: “We are pleased with our first quarter results and performance against a very difficult comparison in the first quarter of 2021. As we previously predicted and communicated, we are seeing less impact from the pandemic on our businesses. Irrespective of the decline in impact, we continue to see strong operating performance from our comparable operations as well as through our active acquisition pipeline,” said J. Bradley Green, Chief Executive Officer. “Specifically,

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