Comamtech Obtains Final Court Order for Plan of Arrangement
Today : Friday 20 May 2011
Comamtech Inc. ("Comamtech") (PINK SHEETS: COMT) is pleased to announce that the Ontario Superior Court of Justice (Commercial List) has issued a final order approving a reverse takeover transaction with DecisionPoint Systems, Inc. ("DecisionPoint") (OTCBB: DNPI), pursuant to a plan of arrangement (the "Plan of Arrangement"). On October 20, 2010, Comamtech and DecisionPoint jointly announced that they had entered into an arrangement agreement with 2259736 Ontario Inc. ("MergerCo"), a newly incorporated wholly-owned subsidiary of Comamtech, with respect to an arrangement pursuant to which: (i) Comamtech (through MergerCo) will acquire all the issued and outstanding shares of DecisionPoint in a reverse take-over; and (ii) Comamtech will subsequently be continued under the General Corporation Law of the State of Delaware (the "Arrangement"). The final order states that the Arrangement is fair and reasonable to the parties affected.
As previously announced on May 18, 2011, the Plan of Arrangement was approved by 98% of the votes cast by shareholders of Comamtech represented in person or by proxy at the Special Meeting. If all other conditions to completion of the Arrangement are satisfied or waived, it is anticipated that the Arrangement will be completed on or about May 27, 2011.
For further details regarding the Arrangement, please refer to Comamtech's management information circular dated April 14, 2011, a copy of which is available under the corporate profile of Comamtech on SEDAR at www.sedar.com.
