Integrated Alarm Services (NASDAQ:IASG)
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Integrated Alarm Services Group, Inc. (NASDAQ: IASG) a total solution
provider to independent security alarm dealers located throughout the
United States, announced results of its special meeting of stockholders
held March 27, 2007.
In a meeting held in Albany, New York, IASG stockholders adopted the
agreement and plan of merger entered into on December 20, 2006 by IASG
with Protection One, Inc. of Lawrence, Kansas. Approximately 17.7
million shares of IASG common were represented at the special meeting of
shareholders, which represents approximately 72.8 percent of the shares
outstanding and entitled to vote. Approximately 99.9 percent of the
shares present at the meeting approved the merger.
In announcing the shareholder meeting results, John Mabry, Chairman of
IASG, said, “I am pleased by this strong vote
of support by our shareholders for the merger. The combination of IASG
and Protection One creates a very powerful enterprise in the security
alarm business. The combination creates a truly national enterprise with
market leading positions in residential, commercial and wholesale alarm
monitoring.”
Upon completion of the merger, IASG stockholders will receive 0.29 of a
share of Protection One common stock for each share of common stock
owned at the time of the merger. Protection One and IASG expect to
complete the merger promptly after receipt of all necessary regulatory
approvals and satisfaction of certain closing conditions. The closing is
scheduled for April 2, 2007.
About IASG
Integrated Alarm Services Group provides total integrated solutions to
independent security alarm dealers located throughout the United States
to assist them in serving the residential and commercial security alarm
market. IASG’s services include alarm contract
financing including the purchase of dealer alarm contracts for its own
portfolio and providing loans to dealers collateralized by alarm
contracts. IASG, with approximately 4,000 independent dealer
relationships, is also the largest wholesale provider of alarm contract
monitoring and servicing. For more information about IASG please visit
our web site at http://www.iasg.us.
This press release may contain statements, which are not historical
facts and are considered forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements contain projections of IASG’s
future results of operations, financial position or state other
forward-looking information. In some cases you can identify these
statements by forward looking words such as “anticipate”,
“believe”, “could”,
“estimate”, “expect”,
“intend”, “may”,
“should”, “will”,
and “would” or
similar words. You should not rely on forward-looking statements because
IASG’s actual results may differ materially
from those indicated by these forward looking statements as a result of
a number of important factors. These factors include, but are not
limited to: general economic and business conditions; our business
strategy for expanding our presence in our industry; anticipated trends
in our financial condition and results of operation; the impact of
competition and technology change; existing and regulations effecting
our company and business, and other risks and uncertainties discussed
under the heading “Risks Related to our
Business” in IASG’s
Form 10-K report for the period ending December 31, 2006 as filed with
the Securities and Exchange Commission on March 16, 2007, and other
reports IASG files from time to time with the Securities and Exchange
Commission. IASG does not intend to and undertakes no duty to update the
information contained in this press release.