CIMdata PLM Industry Summary Online Archive
30 October 2007
Acquisitions
Rand A Technology Corporation Announces Shareholder Approval of Acquisition by Ampersand Ventures
Rand A Technology Corporation operating as RAND WorldwideT (" Rand " or the "Company"), announced that, at its special meeting of Rand shareholders held today, Rand shareholders approved the arrangement pursuant to Section 182 of the Business Corporations Act (Ontario) whereby certain funds managed by Ampersand Ventures will acquire, through their affiliate, 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 (the "Arrangement").
The Arrangement resolution giving effect to the transaction with Ampersand was approved by over 77% of the Rand shares represented in person or by proxy at the special meeting. The Arrangement resolution was also approved by a majority of Rand's minority shareholders as required by applicable law. Final Court approval of the Arrangement is scheduled for October 31, 2007 and, subject to satisfaction or waiver of the remaining closing conditions, the closing of the Arrangement is expected to occur on November 1, 2007.
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