Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News
SYS-CON.TV
Cloud Expo & Virtualization 2009 East
PLATINUM SPONSORS:
IBM
Smarter Business Solutions Through Dynamic Infrastructure
IBM
Smarter Insights: How the CIO Becomes a Hero Again
Microsoft
Windows Azure
GOLD SPONSORS:
Appsense
Why VDI?
CA
Maximizing the Business Value of Virtualization in Enterprise and Cloud Computing Environments
ExactTarget
Messaging in the Cloud - Email, SMS and Voice
Freedom OSS
Stairway to the Cloud
Sun
Sun's Incubation Platform: Helping Startups Serve the Enterprise
POWER PANELS:
Cloud Computing & Enterprise IT: Cost & Operational Benefits
How and Why is a Flexible IT Infrastructure the Key To the Future?
Click For 2008 West
Event Webcasts
Cantronic Systems Inc. Announces Proposed Going Private Transaction

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/30/12 -- Cantronic Systems Inc. (TSX VENTURE:CTS) ("Cantronic" or the "Company") today announced a proposal (the "Proposal") by James Zahn, a director and the Chief Executive Officer of the Company, for the Company to go private. Mr. Zahn states the following as reasons for the Proposal: "Given the tough market conditions for public companies with operations in China, deteriorating sales results and the high cost of maintaining a stock exchange listing, I sincerely believe that it is in the best interests of the Company that it be taken private."

Under the Proposal, the going-private transaction (the "Transaction") will be accomplished through the consolidation of the Company's issued and outstanding common shares (the "Common Shares") on the basis of one new common share ("New Common Share") for every 1,600,000 Common Shares now issued and outstanding (the "Consolidation"). After effecting the Consolidation, those shareholders who would receive less than one whole New Common Share will have their fractional New Common Share purchased by the Company at a price of $0.04 in cash per Common Share held by them immediately prior to the Consolidation, with the result that following the Consolidation, the Company will have a small number of holders of at least one whole New Common Share, including Mr. Zahn, and fewer than 51 securityholders in Canada in total (including holders of convertible debentures currently issued and outstanding). Following completion of the Transaction, Cantronic will apply to have the New Common Shares delisted from the TSX Venture Exchange (the "TSXV") and it will also apply to the applicable Canadian securities regulatory authorities to cease to be a reporting issuer in each province in which it is currently a reporting issuer.

The $0.04 price per pre-Consolidation Common Share represents a 99.1% premium to the weighted average trading price of the Common Shares in the 10 trading days prior to November 21, 2012 ($0.02), a 50.7% premium to the weighted average trading price of the Common Shares in the 30 trading days prior to November 21, 2012 ($0.027), as well as a 30.3% premium to the weighted average trading price of the Common Shares in the 90 trading days prior to November 21, 2012 ($0.031).

The Proposal was considered by an independent special committee of the board of directors composed of John J.Y. Shen and Keith Attoe (the "Special Committee"). The Special Committee engaged Evans & Evans, Inc. ("Evans"), an independent financial advisor, to prepare a fairness opinion with respect to the Transaction (the "Fairness Opinion"). Subject to the qualifications, restrictions and assumptions set forth in the Fairness Opinion, in the opinion of Evans, as at November 22, 2012, the terms of the Transaction are fair, from a financial point of view, to the minority shareholders of the Company (the "Minority Shareholders").

After consideration of all of the circumstances, the Special Committee concluded that the Proposal in the best interests of the Company and fair to the Minority Shareholders. Accordingly, the Special Committee recommended that the Board resolve to agree to the terms expressed in the Proposal and to approve the negotiation and execution of a formal agreement with Mr. Zahn to implement the Transaction, subject to the receipt of all required shareholder and regulatory approvals.

The Transaction is subject to shareholder approval by way of a special resolution of the shareholders of the Company and by a majority of the votes cast on the resolution by Minority Shareholders, and acceptance for filing by the TSX Venture Exchange. The Company has called a meeting of the Company's shareholders to be held in Vancouver, British Columbia at 3:00pm Pacific time on December 28, 2012, at which the Transaction will be voted upon by shareholders (the "Meeting"). Full details of the Transaction and the Meeting will be included in a management information circular which the Company is to send to shareholders shortly.

On behalf of the Board of Directors of CANTRONIC SYSTEMS INC.

James Zahn, Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.

Contacts:
Cantronic Systems Inc.
James Zahn
Chief Executive Officer
(604) 516-6667, extension 228
jzahn@cantronics.com

About Marketwired .
Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Cloud Developer Stories
Can we look to the paradigm of cloud computing from a completely different perspective? In his General Session at 15th Cloud Expo, Gundars Kulups, Sales Director at DEAC, will discuss what we can learn from our dining habits when choosing a cloud solution. Gundars Kulups is Sal...
SYS-CON Events announced today that SOA Software, an API management leader, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. SOA Software is a leading provider of API M...
As cloud gives an opportunity to businesses to buy services externally - how is cloud impacting your customers? In his General Session at 15th Cloud Expo, Fabio Gori, Director of Worldwide Cloud Marketing at Cisco, will provide answers to big questions: Do you see hybrid cloud a...
SYS-CON Events announced today that TMCnet has been named “Media Sponsor” of SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Technology Marketing Corporation (TMC) is the world's lead...
SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps le...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021



SYS-CON Featured Whitepapers
ADS BY GOOGLE

Breaking Cloud Computing News

In an increasingly connected world, enterprises are extending new business models, ...