MONTREAL, CANADA — (Marketwired) — 05/06/15 — Hartco Inc. (the “Company”) (TSX: HCI) announces that, further to the Company–s press release dated April 16, 2015 and the announcement on April 23, 2015 by 9187669 Canada Inc. (the “Offeror”) that it has made an offer to purchase each of the issued and outstanding common shares of the Company not already owned by the Offeror or its affiliates for $3.40 in cash (the “Offer”), the Board of Directors of the Company has filed its directors– circular dated May 6, 2015 (the “Directors– Circular”) in respect of the Offer with the Canadian securities regulatory authorities and is proceeding with the mailing of the Directors– Circular to shareholders of Hartco. The Directors– Circular is available under the Company–s issuer profile on SEDAR at .
The Special Committee of the Board of Directors (the “Special Committee”), consisting of independent directors of the Company, has carefully reviewed and considered the Offer and the alternatives, and for the reasons set out in the Directors– Circular, the Board of Directors, acting upon the unanimous recommendation of the Special Committee, is recommending that shareholders reject the Offer.
Shareholders are advised to read the Directors– Circular carefully and in its entirety, as it contains important information regarding the Company and the Offer. In addition, shareholders should consult with their investment dealer, lawyer or other professional adviser if they are in doubt as to how to respond to the Offer.
About Hartco Inc.
Hartco Inc. (TSX: HCI) has been a leader in the Canadian information technology business for more than thirty years and is the parent company of Metafore Technologies Inc. As one of Canada–s leading IT solution providers, Metafore designs, supplies, installs and supports information technology solutions that contribute to improved productivity and overall business performance of private and public sector organizations of every size across Canada. For more information, please visit or .
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. Such forward-looking statements may include, without limitation, statements regarding the proposed take-over bid and other statements that are not historical facts. Such statements are subject to assumptions, risks and uncertainties, including those discussed in our filings on SEDAR. Actual results or events may vary materially from expected results or events. In particular, the timing and completion of the proposed take-over bid are expected to be subject to certain conditions, termination rights and other risks and uncertainties. Accordingly, there can be no assurance that the proposed take-over bid will occur, or that it will occur on the timetable or on the terms and conditions contemplated. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contacts:
William Cleman
Chairman of the Special Committee
Hartco Inc.
514-354-0580 Ext. 1350
514-354-8989 (FAX)
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