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RMS Rms Systems Inc.

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Share Name Share Symbol Market Type
Rms Systems Inc. TSXV:RMS TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

RMS Systems Inc. Announces Shareholder and Court Approval for Arrangement

27/11/2013 10:08pm

Marketwired Canada


NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION
OF U.S. SECURITIES LAW. 


RMS Systems Inc. (the "Corporation" or "RMS") (TSX VENTURE:RMS) is pleased to
announce that at a special meeting (the "Meeting") held today, the holders of
common shares of RMS (the "RMS Shareholders") approved the previously announced
plan of arrangement (the "Arrangement") involving RMS and PHX Energy Services
("PHX"). RMS also obtained a final order from the Court of Queen's Bench of
Alberta approving the Arrangement.


The Arrangement involves the acquisition by PHX of all of the issued and
outstanding common shares of RMS (the "RMS Shares"), except for those currently
held by PHX. The RMS Shareholders will receive, for each RMS Share held,
0.037209 of a common share of PHX. 


The special resolution approving the Arrangement was approved at the Meeting by
100% of the votes cast by RMS Shareholders and 100% of the votes cast by RMS
Shareholders, after excluding those required to be excluded by Multilateral
Instrument 61-101 - Protection of Minority Security Holders in Special
Transactions. 


RMS and PHX expect the Arrangement to be completed on or about November 28,
2013. Following completion of the Arrangement, the RMS Shares will be delisted
from the TSX Venture Exchange and RMS will apply to cease to be a reporting
issuer under the securities laws of each of the provinces of Canada in which it
is currently a reporting issuer.


Details of the Arrangement are contained in the management information circular
of RMS dated October 28, 2013, which can be found at www.sedar.com. 


Advisory Regarding Forward-Looking Statements

This press release contains forward-looking statements including anticipated
timing of various matters relating to the completion of the Arrangement. These
statements are based on current expectations that involve a number of risks and
uncertainties, which could cause actual events to differ from those anticipated.
These risks include, but are not limited to: the risks associated with the
completion of the Arrangement. No assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or occur. Except as
required by applicable securities law, PHX and RMS undertake no obligation to
update or revise any forward-looking statements. 


This release does not constitute an offer to purchase or a solicitation of an
offer to sell securities. Shareholders are advised to review any documents that
may be filed with securities regulatory authorities and any subsequent
announcements because they will contain important information, regarding the
Arrangement and the terms and conditions thereof. 


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE ENXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
RMS Systems Inc.
Dave Hall
President and Chief Executive Officer
(403) 717-9694

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