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Share Name | Share Symbol | Market | Type |
---|---|---|---|
E-Xact Transactions Ltd | TSXV:EXZ | 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 | - |
A meeting of the E-xact Stockholders has been scheduled for December 1, 2010 to approve the Merger. Stockholders will be sent a special meeting circular providing the details of the proposed Merger, which includes, among other things, the text of the Merger Agreement and an independent Fairness Opinion. If the Merger is approved, a Stockholder can choose to receive for each E-xact Share either:
1. CDN $.40 per share with an immediate cash payment of $.15 per share plus a vendor take back note in the principal amount of CDN $0.25 per share in cash payable over five years with interest at 8% per annum, in equal blended consecutive annual payments, subject to the right of prepayment at any time without notice or bonus;
or
2. A stockholder can elect to receive an immediate cash payment of CDN $0.30 per share.
Dieter Heidrich, Director and member of the Special Committee said "We are pleased to see the Merger Proposal providing a shareholder liquidity event and also reflect the most recent Company valuation provided by Evans and Evans."
K Dieter Heidrich, Chairman, Member of Special Committee
The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties. E-xact Transactions Ltd.'s actual results could differ materially from those ex pressed or implied by such forward-looking statement. Factors that could cause or contribute to such differences include but are not limited to competition, general economic conditions, currency fluctuations and other risks detailed in the Company's filings with the Canadian securities regulatory authorities.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts: E-xact Transactions Ltd. K Dieter Heidrich Chairman Member of Special Committee 604.691.1670 ext.110 mergerinfo@e-xact.com www.e-xact.com
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