Attention Business Editors:
Hearing rescheduled in respect of final court approval of Hummingbird Ltd. arrangement
TORONTO, Sept. 21 /CNW/ - Hummingbird Ltd. (NASDAQ: HUMC, TSX: HUM)
announced today that the hearing in respect of the final court approval of the
proposed arrangement of Hummingbird and a wholly-owned subsidiary of Open Text
Corporation (NASDAQ: OTEX, TSX: OTC) has been rescheduled at the request of
the Superior Court of Justice of Ontario.
The hearing, which was originally scheduled for Friday, September 22,
2006, will now occur on Tuesday, September 26, 2006, at 10:00 a.m. (Toronto
time) in the Superior Court of Justice of Ontario (Commercial List) at 330
University Avenue, Toronto, Ontario. If court approval is obtained and the
other conditions to closing are satisfied or waived, the transaction is
expected to close on October 2, 2006. The closing of the transaction is
subject to court approval in Canada as well as the satisfaction or waiver of
the other conditions specified in the arrangement agreement between
Hummingbird, Open Text and a subsidiary of Open Text.
About Hummingbird
Hummingbird (NASDAQ: HUMC, TSX: HUM) is a leading global provider of
enterprise software solutions. The Company's enterprise software solutions
fall into two principal categories: enterprise content management (ECM)
solutions, and network connectivity solutions. Hummingbird's ECM solutions
enable organizations to manage the lifecycle of enterprise content from
creation to disposition, thereby enabling organizations to address critical
business needs, such as information management, business continuity,
compliance and risk mitigation. The network connectivity solutions provide a
comprehensive set of core network technologies that enables the enterprise to
connect to any type of legacy system.
Founded in 1984, Hummingbird employs over 1,400 people and serves more
than 33,000 customers, including 90% of Fortune 100. Hummingbird solutions are
sold directly from 40 offices worldwide and through an Alliance Network of
partners and resellers. For more information, visit
hummingbird.com.
Forward-Looking Statements
Forward-looking statements in this press release, including statements
relating to the date of court approval and the closing date for the
transaction, are made pursuant to the safe harbor provisions of the United
States Private Securities Litigation Reform Act of 1995. Forward-looking
statements are based on assumptions made by and information currently
available to Hummingbird. Investors are cautioned that these forward-looking
statements are subject to risks and uncertainties that may cause future
results to differ materially from those expected. Such risks include, but are
not limited to Hummingbird's ability to close the transaction in the time
period anticipated, if at all, which is dependent upon Hummingbird's ability
to receive the requisite regulatory approvals and to comply with the closing
conditions to the transactions, some of which are beyond Hummingbird's
control. Forward-looking statements are based on management's current plans,
estimates, opinions and projections, and Hummingbird does not assume any
obligation to update forward-looking statements if assumptions related to
these plans, estimates, opinions and projections should change.
%SEDAR: 00003205E
For further information: Inder Duggal, Chief Financial Officer,
Hummingbird Ltd., Tel: (416) 496-2200 ext.2205, inder.duggal@hummingbird.com;
Dan Coombes, Director, Investor Relations, Hummingbird Ltd., Tel: (416)
496-2200 ext. 6359, daniel.coombes@hummingbird.com; Michele Stevenson Senior
Manager, Corporate Communications, Hummingbird Ltd., Tel: (416) 496-2200 ext.
2623, michele.stevenson@hummingbird.com
Could the judge be wondering about the voting on this deal? It sure struck me strange when they reported that they got 98%+ approval from just over 50% of the shareholders.
Were the insiders to this deal allowed to vote and why did I get written proxies and also get a mechanism to vote over the phone. I voted both ways to make sure my votes were counted and give what they reported as results give me the impression that my votes weren't even counted. Hope the judge is making sure eventhing here is at least kosher.
Almost time to move on. Is Michael around?</i? |
