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CNEZF Call Net Enterpris B (MM)

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Share Name Share Symbol Market Type
Call Net Enterpris B (MM) NASDAQ:CNEZF NASDAQ Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

Call-Net Shareholders Approve Acquisition by Rogers

29/06/2005 5:19pm

PR Newswire (US)


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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.

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