0962675 BC Ltd. Announces $0.50 Bid for OneMove Technologies Inc.
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/19/13 -- 0962675 BC Ltd. (The Company) a privately owned company, today announced its intention to present a take-over offer to OneMove Technologies Inc. (TSX VENTURE: OM), of $0.50 per common share to the shareholders of OneMove Technologies Inc. (OM).
The Company's proposed bid is 18% higher than the only other suitor Plantro Ltd. (PL) a wholly owned subsidiary of 0955662 B.C. Ltd. PL's offer contains a self imposed deadline of February 21, 2013. PL states that they have a "lock up agreement" with a majority of the larger shareholders of OM that can be viewed at which may provide PL their desired minimum 66 2/3% control of OM. It is in fact, only a "soft lock up agreement" that has no effect with the acceptance of a superior bid. The Company's offer may potentially accommodate a portion of shareholders to exchange their shares in OM in lieu of cash.
A superior bid releases all shareholders who previously signed the soft lock up agreement to choose, at their sole discretion, how they wish to proceed. This extends to certain key shareholders that have or are in the process of tendering their shares to be held pending the outcome of PL's offer.
The Company's offer is subject to, but not limited to the following conditions:
The Company believes that its offer more accurately reflects the underlying value of OM and is superior for the following reasons:
About 0962675 BC Ltd.:
The Company is a private company incorporated under the laws of British Colombia and its sole shareholder is Raymond Szeto.
Forward Looking Statements
This press release contains certain "forward looking statements." These statements relate to future events or future performance and reflect expectations and belief regarding growth, results of operations, performance, business prospects, opportunities or industry performance and trends. These forward looking statements reflect current internal projections, expectations or beliefs and are based on information currently available. A number of factors could cause actual events or results to differ materially from the results discussed in the forward looking statements. Although it is believed that the forward looking statements contained in this press release are based upon reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward looking statements. These forward looking statements are made as of the date of this press release, and 0962675 BC Ltd. assumes no obligation to update or revise them to reflect new events or circumstances, except as required pursuant to applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
0962675 BC Ltd.
Raymond Szeto
(604) 561-3551
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Unternehmensinformation / Kurzprofil:
Datum: 19.02.2013 - 14:11 Uhr
Sprache: Deutsch
News-ID 230799
Anzahl Zeichen: 0
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Software
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