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GIL Gildan Activewear Inc

50.80
-0.58 (-1.13%)
04 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Gildan Activewear Inc TSX:GIL Toronto Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.58 -1.13% 50.80 50.66 51.12 51.69 50.73 51.21 246,905 21:14:58

DDS Wireless Completes Going-Private Transaction

27/06/2014 7:24pm

Marketwired Canada


DDS Wireless International Inc. (TSX:DD) ("DDS Wireless" or the "Company"), a
world leader in providing wireless data solutions for fleet management, which it
has been providing for more than 26 years, is pleased to announce the successful
completion of its previously announced going private transaction, pursuant to
which 0998556 B.C. Ltd. (the "Purchaser), a wholly- owned subsidiary of Ghai
Investments Ltd. ("GIL"), a private company controlled by Vari Ghai, the Chief
Executive Officer and a director of the Company, acquired all of the outstanding
securities of the Company that the Purchaser and its affiliates did not
previously own by way of a plan of arrangement (the "Arrangement"). The
Arrangement was completed following the approval of the Supreme Court of British
Columbia and the satisfaction of various conditions precedent to the
Arrangement.


Payment of cash consideration of C$2.25 per share (the "Consideration") for the
common shares acquired pursuant to the Arrangement will be made by the
Depositary, Computershare Investor Services Inc. Registered shareholders of
common shares are required to complete and sign a letter of transmittal and
deliver it to the Depositary, together with any share certificates they may hold
and the other required documents. Shareholders who hold their common shares
through a broker or other intermediary may contact that broker or other
intermediary for instructions and assistance in receiving the consideration for
their common shares.


Pursuant to the Arrangement, all of the outstanding options of the Company
("Options") were cancelled and Option holders holding Options that have an
exercise price that is less than the Consideration will receive a cash amount
equal to the amount by which the Consideration exceeds the exercise price.


Further information concerning these processes is outlined in the Company's
management information circular dated May 22, 2014, a copy of which is
available, along with the letter of transmittal, under the Company's profile at
www.sedar.com. 


Any questions regarding the cash consideration, including any request for
another letter of transmittal should be directed to Computershare Investor
Services Inc., at its North American toll-free number: 1- 800-564-6253; or for
outside North America at +1 514-982-7555 or via email to
corporateactions@computershare.com.


In connection with the completion of the plan of arrangement, the Company has
applied to have the common shares of the Company de-listed from the Toronto
Stock Exchange. DDS will also apply to cease to be a reporting issuer under
applicable Canadian securities laws.


About DDS Wireless International Inc.

DDS Wireless International Inc. is a global leader in providing application
software for multiple vertical markets within the transportation industry. The
Company specializes in transit routing and scheduling, real-time dispatching,
vehicle location and tracking software applications, communications
infrastructure as well as in-vehicle wireless devices. DDS Wireless operates
three businesses dedicated for Taxi, Transit and New Markets such as OEM
partners, Limousines, Airport Shuttles and Buses. The Company supports its
customers worldwide through its offices in Canada, Finland, Singapore, Sweden,
U.K. and U.S.A.


Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking information or forward-looking
statements (collectively referred to as "forward-looking statements"), including
statements that use forward-looking terminology such as "may", "will", "expect",
"anticipate", "believe", "continue", "potential", or the negative thereof or
other variations thereof or comparable terminology. Such forward-looking
statements include, without limitation, statements regarding the de-listing of
the common shares and ceasing to be a reporting issuer under applicable Canadian
securities laws and other statements that are not historical facts. While such
forward-looking statements are expressed by DDS Wireless, as stated in this
release, in good faith and believed by DDS Wireless to have a reasonable basis,
they are subject to important risks and uncertainties including, without
limitation, TSX and regulatory approvals and changes in applicable laws or
regulations, which could cause actual results to differ materially from future
results expressed, projected or implied by the forward-looking statements. As a
result of these risks and uncertainties, the Arrangement could be modified,
restructured or not be completed, and the results or events predicted in these
forward-looking statements may differ materially from actual results or events.
These forward - looking statements are not guarantees of future performance,
given that they involve risks and uncertainties. DDS Wireless is not affirming
or adopting any statements made by any other person in respect of the
Arrangement and expressly disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable securities law.
Investors should not assume that any lack of update to a previously issued
forward-looking statement constitutes a reaffirmation of that statement.
Reliance on forward-looking statements is at investors' own risk.


For further information about DDS Wireless, please visit www.ddswireless.com 

FOR FURTHER INFORMATION PLEASE CONTACT: 
DDS Wireless International Inc.
Investor Relations
Investors@ddswireless.com
(604) 241-1441
www.ddswireless.com

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