CALGARY,
July 26, 2016 /PRNewswire/
- SMART Technologies Inc. (NASDAQ: SMT) (TSX: SMA) ("SMART" or
the "Company"), a leading provider of education and business
collaboration solutions, announces that, further to its press
release dated May 26, 2016, the
holders of common shares ("Common Shares") of the Company
("Shareholders") have approved the proposed arrangement involving
the Company, 689522 N.B. Ltd. ("AcquisitionCo"), Foxconn Singapore
(Pte). Ltd. and the Shareholders pursuant to a plan of arrangement
under the Business Corporations Act (Alberta) (the "Arrangement"). Under the terms
of the Arrangement, Shareholders will receive from AcquisitionCo a
cash payment of US$4.50 per Common
Share upon completion of the Arrangement. The Arrangement was
approved by approximately 96.2% of the votes cast by Shareholders
at the special meeting (the "Meeting") of Shareholders held on
July 22, 2016.
An application for a final order approving the
Arrangement was commenced today at the Court of Queen's Bench of
Alberta and will be completed on
Thursday, July 28, 2016 at
10:00 a.m. (Calgary time). SMART will provide a further
update on the status of the final order when available.
Further details regarding the Arrangement are
contained in the Company's management information circular dated
June 17, 2016 which has been filed on
SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
The closing of the Arrangement is subject to the
satisfaction of a number of conditions precedent for transactions
of this nature. If these conditions are satisfied or waived, it is
expected that the Arrangement will close during the second quarter
of fiscal 2017, after which time the Common Shares will be delisted
from the Toronto Stock Exchange and the NASDAQ Stock Market.
About SMART
SMART Technologies Inc.
(NASDAQ: SMT, TSX: SMA) is a world leader in simple and intuitive
solutions that enable more natural collaboration. We are an
innovator in interactive touch technologies and software that
inspire collaboration in both education and business around the
globe. To learn more, visit smarttech.com.
SMT – F
Reader's advisory
Certain
information contained in this press release may constitute
forward-looking information including, without limitation,
statements concerning the anticipated completion of the proposed
Arrangement and the anticipated timing thereof. By their very
nature, forward-looking information and statements involve inherent
risks and uncertainties, both general and specific, and risks that
predictions, forecasts, projections and other forward-looking
information and statements will not be achieved. We caution readers
not to place undue reliance on these statements as a number of
important factors could cause the actual results to vary materially
from the forward-looking information or statements. We do not
assume responsibility for the accuracy and completeness of the
forward-looking information or statements. Any forward-looking
information and statements contained in this press release are
expressly qualified by this cautionary statement.
©2016 SMART Technologies Inc. All
third-party product and company names are for identification
purposes only and may be trademarks of their respective owners. To
view a list of SMART trademarks please visit our Trademarks and
Guidelines page.
Please note that SMART is written in all capital
letters.
SOURCE SMART Technologies Inc.