OTTAWA, ONTARIO — (Marketwired) — 05/13/15 — International Datacasting Corporation (“IDC”) (TSX: IDC), a technology provider for the world–s premiere broadcasters, today announced that it has filed the management proxy circular (the “Circular”) and related proxy materials with Canadian securities regulators in preparation for its annual and special meeting of shareholders to be held on June 12, 2015 (the “Meeting”).
On April 22, 2015, IDC announced that it had executed a definitive agreement for the sale of IDC–s broadcast products business and its related assets to Pico Digital Inc. (the “Transaction”), a privately-owned San-Diego based company providing multimedia delivery solutions to customers in the broadcast, cable, satellite, and broadband markets. At the Meeting, IDC shareholders will be asked to, among other things, consider a special resolution approving the Transaction.
IDC shareholders of record on May 12, 2015 will receive notice of and be entitled to vote at the Meeting. The Circular provides additional information about IDC, the Transaction, and the anticipated amount and timing of distributions to shareholders and will be mailed to shareholders on or about May 21, 2015.
Mr. Chris Van Staveren, Chairman of the Board, and Mr. Doug Lowther, President and CEO of IDC, cordially invite all interested parties to participate in a conference call to provide an overview of the Corporation–s financial results for the fourth quarter and the year ended January 31, 2015 and to respond to questions from shareholders about matters related to the upcoming Meeting:
The Meeting is scheduled to be held on Friday, June 12, 2015 commencing at the hour of 10:00 a.m. (Ottawa time) at the offices of Dentons Canada LLP, 99 Bank Street, Suite 1420, in Ottawa, Ontario.
IDC encourages all shareholders to read the Circular in detail. A copy of the Circular is available on IDC–s website at and under IDC–s profile on SEDAR at .
Your vote is important regardless of the number of shares you own. The Board of Directors of IDC UNANIMOUSLY recommends that shareholders vote IN FAVOUR of the Transaction.
About International Datacasting Corporation:
International Datacasting Corporation (TSX: IDC) is a global technology provider for the world–s premiere broadcasters in radio, television, data and digital cinema. IDC–s products and solutions are in demand for radio and television networks, targeted ad insertion, digital cinema, 3D live events, satellite news gathering, sports contribution, VOD, and IPTV. IDC is headquartered in Ottawa, Canada, with regional offices in Arnhem, the Netherlands and in San Diego, California. For more information visit: .
Forward-Looking Statements:
This press release contains certain information that may constitute “forward-looking information” and/or “forward-looking statements” within the meaning of applicable Canadian securities laws including, without limitation, statements with respect to the proposed acquisition, the matters to be approved at the shareholder meeting of IDC, and the timing and holding of the shareholder meeting of IDC. All forward-looking information and forward-looking statements are necessarily based on a number of estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies. The material assumptions used to develop the forward looking-statements made in this release include the ability of IDC to consummate the proposed acquisition, the compliance of Pico Digital with the terms of the Agreement, as well as other considerations that are believed to be appropriate in the circumstances.
All statements other than statements which are reporting results as well as statements of historical fact are forward-looking statements that may involve a number of known and unknown risks, uncertainties and other factors; many of which are beyond the ability of IDC to control or predict.
Forward-looking statements are generally identifiable by use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “design”, “plan or “project” or the negative of these words or other variations on these words or comparable terminology. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that might cause actual results to differ materially include, but are not limited to: the possibility that certain assumptions with respect to the proposed transaction could prove to be inaccurate, required shareholder approval, the termination of the Agreement by Pico Digital if IDC suffers material adverse effect prior to the completion of the acquisition and the satisfaction or waiver of certain other conditions contemplated by the Agreement.
More detailed information about potential factors that could affect IDC–s financial and business results is included in the public documents IDC files from time to time with Canadian securities regulatory authorities and which are available on SEDAR at , including, without limitation, IDC–s Annual Information Form and MD&A for the year ended January 31, 2015, each dated April 29, 2015.
Except as expressly required by applicable law, we undertake no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are provided to assist external stakeholders in understanding IDC–s expectations as at the date of this release and may not be appropriate for other purposes. Readers are cautioned not to place undue reliance on such statements.
Contacts:
International Datacasting Corporation
Chris Van Staveren
Chairman
+1 613 596 4120
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