All securities issued to subsidiaries of Empire under the Transaction are subject to a four month hold period from the closing date of the Transaction. Immediately following the closing of the Transaction and the conversion of the Subscription Receipts, Empire is expected to continue to indirectly hold a 41.5% economic and voting interest in Crombie (40.3% on a fully-diluted basis). The Transaction is subject to receipt of approvals under the Competition Act ( Canada ) and approval by majority vote of Crombie's Unitholders, other than Empire and its subsidiaries, at a meeting of Unitholders to take place on June 28, 2016 in New Glasgow, Nova Scotia. The underwriting syndicate was co-led by CIBC Capital Markets, BMO Capital Markets, Scotiabank and TD Securities Inc., and included National Bank Financial Inc., RBC Dominion Securities Inc., Canaccord Genuity Corp., Raymond James Ltd. and Desjardins Securities Inc.