Call Net Enterpris (NASDAQ:CNEZF)
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Call-Net Shareholders Approve Acquisition by Rogers
TORONTO, June 29 /PRNewswire-FirstCall/ -- Rogers Communications Inc. ("RCI")
announced today that it has been advised by Call-Net Enterprises Inc.
("Call-Net") that the shareholders of Call-Net have voted overwhelmingly to
approve the acquisition of all of Call-Net's outstanding shares by RCI pursuant
to a plan of arrangement, which was announced on May 11, 2005. Under the
arrangement, Call-Net common and class B shareholders will receive one RCI
class B non voting share for every 4.25 Call-Net shares they hold.
Final approval for the arrangement is being sought from the Ontario Superior
Court of Justice tomorrow, June 30, 2005. Subject to court approval, the
arrangement is expected to become effective on July 1, 2005 at which point
Call-Net will become a fully owned subsidiary of RCI.
Cautionary Statement Regarding Forward Looking Information:
This news release includes certain forward looking statements that involve
risks and uncertainties. We caution that actual future events will be affected
by a number of factors, many of which are beyond our control, and therefore may
vary substantially from what we currently foresee. These forward-looking
statements include, among others, statements with respect to our objectives,
and strategies to achieve those objectives, as well as statements with respect
to our beliefs, plans, expectations, anticipations, estimates or intentions and
are based on current expectations. We caution that all forward-looking
information is inherently uncertain and actual results may differ materially
from the assumptions, estimates or expectations reflected or contained in the
forward-looking information, and that actual future performance will be
affected by a number of factors, many of which are beyond our control,
including but not limited to the ability of the companies to close the
transaction and integrate the acquired operations, economic conditions,
technological change, regulatory change and competitive factors. We are under
no obligation to (and expressly disclaim any such obligation to) update or
alter any forward looking statements whether as a result of new information,
future events or otherwise. Important additional information identifying risks
and uncertainties is contained in our most recent annual and interim reports
and forms filed with the applicable Canadian securities regulatory authorities
and the U.S. Securities and Exchange Commission.
About the Companies:
Call-Net Enterprises Inc. (TSX: FON, FON.NV.B), primarily through its wholly
owned subsidiary Sprint Canada Inc., is a leading Canadian integrated
communications solutions provider of home phone, wireless, long distance and IP
services to households, and local, long distance, toll free, enhanced voice,
data and IP services to businesses across Canada. Call-Net, headquartered in
Toronto, owns and operates an extensive national fibre network, has over 151
co-locations in five major urban areas including 33 municipalities and
maintains network facilities in the U.S. and the U.K. For more information,
visit http://www.callnet.ca/ and http://www.sprint.ca/.
Rogers Communications (TSX: RCI; NYSE: RG) is a diversified Canadian
communications and media company engaged in three primary lines of business.
Rogers Wireless is Canada's largest wireless voice and data communications
services provider and the country's only carrier operating on the world
standard GSM/GPRS technology platform; Rogers Cable is Canada's largest cable
television provider offering cable television, high-speed Internet access and
video retailing; and Rogers Media is Canada's premier collection of category
leading media assets with businesses in radio, television broadcasting,
television shopping, publishing and sports entertainment. For further
information about the Rogers group of companies, please visit
http://www.rogers.com/.
DATASOURCE: Rogers Communications Inc.
CONTACT: (Investment Community): Bruce M. Mann,
(416) 935-3532, ; Eric A. Wright, (416) 935-3550,
; (Media): Taanta Gupta, (416) 935-4727,
;
Archived images on this organization are searchable through CNW Photo Archive
website at http://photos.newswire.ca/. Images are free to accredited members of
the media.