Espial Group Inc. (“Espial” or the “Company”) (TSX: ESP) today
announces the completion of the previously announced plan of arrangement
under the Canada Business Corporations Act pursuant to which
Enghouse Systems Limited (“Enghouse”) acquired all of the issued
and outstanding common shares of Espial for $1.57 in cash per common
share (the “Arrangement”).
Consideration for the purchased common shares has been paid to
Computershare Trust Company of Canada, as depositary under the
Arrangement (the “Depositary”). Under the Arrangement, Espial
shareholders who hold their common shares in registered form will
receive payment of $1.57 in cash per common share following the delivery
and surrender with the Depositary of their original certificates
representing their Espial common shares together with a letter of
transmittal properly completed and executed, in accordance with the
instructions contained in the letter of transmittal previously sent to
registered shareholders (and any additional documents as the Depositary
may reasonably require). Shareholders of Espial who hold their common
shares through a broker, dealer, bank, trust company or other
intermediary should follow the instructions provided by such
intermediary in order to receive payment of the consideration for their
common shares.
It is expected that the Espial common shares will be delisted from the
TSX shortly. Espial also intends to apply to cease to be a reporting
issuer in the applicable provinces of Canada.
About Espial
Espial is a public software company, established in 1997 and
headquartered in Ottawa, Canada. Espial solutions are used by over 100
video service providers and device manufacturers across US, Canada,
Europe & Asia. Espial’s solution portfolio includes client, server and
cloud software products along with system integration services to help
service providers launch next generation video offerings. Espial’s
customers have deployed over 50 million devices, and are serviced
through Espial’s global sales, support, and innovation centers. Espial
has partnered with leading companies like Netflix, Amazon and Google
among others for its Elevate SaaS solution, which is powers cable, IPTV
& App-based IP video services for over 30 video service providers. For
more information on Espial’s solutions, visit www.Espial.com.
For more information about Espial Elevate cloud IPTV platform, visit www.Espial.com/elevate.
About Enghouse
Enghouse Systems Limited is a leading global provider of enterprise
software solutions serving a variety of vertical markets. Its strategy
is to build a more diverse enterprise software company through strategic
acquisitions and managed growth within its business sectors: Contact
Center, Networks (OSS/BSS) and Transportation/Public Safety. Enghouse
shares are listed on the Toronto Stock Exchange (TSX:ENGH). Further
information about Enghouse is available at www.enghouse.com.
Notice Regarding Forward Looking Statements
This news release contains forward-looking statements. Often, but not
always, forward-looking statements can be identified by the use of words
such as “plans”, “expects” or “does not expect”, “is expected”,
“estimates”, “intends”, “anticipates” or “does not anticipate”, or
“believes”, or variations of such words and phrases or state that
certain actions, events or results “may”, “could”, “would”, “might” or
“will” be taken, occur or be achieved. Forward-looking statements
include statements with respect to all court approvals and the
completion of the Arrangement. The forward-looking statements
included in this news release are made as of the date of this news
release and neither Espial nor Enghouse undertakes any obligation to
publicly update such forward-looking statements to reflect new
information, subsequent events or otherwise unless required by
applicable securities legislation.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190524005387/en/