TORONTO, ONTARIO — (Marketwired) — 03/31/15 — EFT Canada Inc. (“EFT Canada” or the “Company”) (TSX VENTURE: EFT), hereby announces that the following were the outcomes of the votes held at EFT Canada`s most recent shareholder meeting on March 30, 2015.
A total of 5,049,433 shares were represented at the meeting, being 36.93% of the Company–s issued and outstanding common shares. Shareholders voted in favour of all matters brought before the meeting.
A summary of the results is presented below:
The shareholder rights plan (the “Plan”) was adopted to encourage a fair treatment of its shareholders, should a take-over bid be made for the common shares of EFT Canada. The Plan will provide the Board and the shareholders, more time to consider an unsolicited take-over bid for EFT Canada. The Plan is intended to discourage coercive or unfair take-over bids and gives the Board time to pursue alternatives to maximize shareholder–s value, if appropriate, in the event of an unsolicited take-over bid.
The Plan has not been adopted in response to, or in contemplation of, any specific proposal to acquire control of the Corporation. The Plan is effective since its approval by the shareholders at the Corporation–s annual meeting of shareholders held on March 30, 2015.
The Plan, which is subject to the TSX Venture Exchange–s final approval, is similar to other shareholder rights plan recently adopted by several other public companies and approved by their respective shareholders. A complete copy of the Plan is available under EFT Canada–s SEDAR profile at .
EFT CANADA INC.
EFT Canada, founded in 2003, is a financial processing company that offers a complete solution to the collection and payment processing needs of small and medium sized business merchants, banks, credit unions, and other financial firms in Canada and the United States. The Company develops, maintains and delivers innovative electronic transaction processing technologies, such as customized electronic payment and collection processing solutions and gift and loyalty card services, by drawing on its operational and applications expertise. For more information, please visit .
This press release contains forward-looking statements which reflect the Company–s current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ significantly from those projected herein. 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:
Jonathan Pasternak
President
EFT Canada Inc.
(416) 781-0666
Email: jpasternak(at)eftcanada.com
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