Call Net Enterpris (NASDAQ:CNEZF)
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Date of Hearing of Application for Court Approval of Call-Net
Arrangement moved to June 30, 2005 from July 7, 2005
Call-Net files Notice of Amendment to May 25, 2005 management proxy circular
TORONTO, June 8 /PRNewswire-FirstCall/ -- Call-Net Enterprises Inc. (Call-Net)
announced today that it has filed with Canadian securities regulators a notice
of amendment to its management proxy circular dated May 25, 2005 (the Circular)
relating to its special meeting of shareholders to be held on June 29, 2005.
The Circular seeks approval of Call-Net's shareholders for a plan of
arrangement pursuant to which Rogers Communications Inc. (RCI) will acquire all
of the outstanding common shares and class B non voting shares of Call-Net.
Under the arrangement, Call-Net shareholders will receive one class B
non-voting share of RCI for every 4.25 Call-Net shares they hold.
Certain sections of the Circular have been amended to reflect a change to the
return date for the final hearing, at which time Call-Net will be seeking
approval from the Ontario Superior Court of Justice of the proposed arrangement
pursuant to section 192 of the Canada Business Corporations Act. In particular,
the Notice of Application, which was attached as Appendix C to the Circular,
has been amended by Order of the Ontario Superior Court of Justice dated June
8, 2005, to change the return date for the hearing of Application to 10:00 a.m.
(Eastern Time) on June 30, 2005 from 10:00 a.m. (Eastern Time) on July 7, 2005.
The hearing will take place at the Ontario Superior Court of Justice, 393
University Avenue, Toronto Ontario.
The amendment does not result in any changes to the terms of the transaction. A
copy of the notice of amendment can be found at http://www.sedar.com/. Call-Net
will also be mailing to shareholders of record on May 17, 2005 the notice of
amendment to the circular.
The special meeting of shareholders has not been changed, and will still be
held on June 29, 2005 at Hilton Toronto (Toronto III Room), 145 Richmond Street
West, Toronto, Ontario at 11:00 a.m. (Eastern Time) and the record date for
voting will remain May 17, 2005, as previously announced. Any Call-Net
shareholder who has already deposited a valid proxy or provided voting
instructions to his or her broker or other intermediary for use at the special
meeting and who does not wish to change his or her proxy need not take any
further action.
About Call-Net Enterprises Inc.
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 United States and the United Kingdom. For
more information, visit http://www.callnet.ca/ and http://www.sprint.ca/.
Note for Investors:
This news release may include statements about expected future events and/or
financial results that are forward-looking in nature and subject to risks and
uncertainties. For those statements, we claim the protection of the safe
harbour for forward-looking statements provisions contained in the Private
Securities Litigation Reform Act of 1995. The Company cautions that actual
performance will be affected by a number of factors, many of which are beyond
its control. Future events and results may vary substantially from what the
company currently foresees. Discussion of the various factors that may affect
future results is contained in the company's recent filings with the Securities
and Exchange Commission, the Ontario Securities Commission and SEDAR.
DATASOURCE: Call-Net Enterprises Inc.
CONTACT: Media Contact: Karen O'Leary, Corporate Communications,
(416) 718-6445,