CIMdata PLM Industry Summary Online Archive
October 1, 2007
Financial News
RAND Announces Shareholders Conference on Oct 30, 11AM
Rand A Technology Corporation operating as RAND Worldwide ® ("Rand" or the "Company"), announced today that the special meeting of Rand shareholders to approve its proposed arrangement with certain funds managed by Ampersand Ventures will take place on Tuesday, October 30, 2007.
As previously announced, Rand has entered into a definitive agreement pursuant to which certain funds managed by Ampersand Ventures will acquire, through 2144258 Ontario Inc., all of the issued and outstanding common shares of Rand for a cash purchase price of C$2.10 per common share, subject to, among other things, approval by Rand shareholders. The special meeting had initially been set for October 15, 2007. The Company has revised the meeting date to allow sufficient time for the parties to prepare the meeting materials to be sent to Rand shareholders and to satisfy certain closing conditions. The change of meeting date will not materially impact the overall timeline for closing of the transaction, which is expected to occur in early November 2007.
The special meeting of Rand Shareholders will take place at 11:00 a.m. (Toronto time) on Tuesday, October 30, 2007 at the Westin Harbor Castle, One Harbor Square, Toronto, Ontario. The record date for the meeting has not changed - Rand shareholders of record at the close of business on September 14, 2007 will be entitled to attend and vote at the special meeting. Rand expects that the management information circular and form of proxy in connection with the proposed arrangement with Ampersand will be mailed to shareholders in the first week of October 2007.
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