ADX: TSX TORONTO, Sept. 14 /CNW/ - Advantex Marketing International Inc. (TSX:ADX) today announced that its Board of Directors has concluded its strategic alternatives initiative to maximize value for the company's shareholders. A Special Committee of independent directors of the Board, established to supervise the strategic initiative, considered proposals from several parties during the past year, resulting in the sale of the Samplex Group on June 30, 2005. The directors concluded that the interest expressed by several parties in the acquisition of, or merger with, Advantex would not create sufficient additional value for shareholders and therefore will not be pursued at this time. Advantex also announced that, with the conclusion of the strategic alternative initiative, the company's President and Chief Operating Officer, Allison L. Smith, will step down when a successor has been recruited. "Over the past several months, the Board and I discussed their request for my resignation to address current and evolving corporate governance standards and practices, and their concerns regarding the perceived and potential conflicts of interest arising out of my positions as President, COO and a director of Advantex, given my marital relationship with G. Randall Munger, Advantex's Chairman and Chief Executive Officer," said Ms. Smith. "I agreed with the Board's request for me to relinquish my positions with the Company and to postpone my resignation pending the completion of the strategic alternatives initiative, given the possible sale or merger of the company. "As the strategic initiative has now ended and no further transactions are contemplated at this time, I have now agreed to continue as the President and COO of Advantex until my successor is hired, or until such earlier date as requested by the Board," Ms. Smith said. "I have also decided not to stand for re-election as a director of the company at the next annual meeting." Ms. Smith joined Advantex in 1988, at an early stage in the company's development when revenues were less than $1 million. She has held increasingly responsible positions in virtually every area of the company and was appointed President in November 1994. Ms. Smith has been instrumental in setting the pace of the company and has been a driving force in making it one of Canada's leading marketing services companies. About Advantex Marketing International Inc. Advantex Marketing International Inc. is a leading marketing services company, specializing in integrated marketing solutions for its Merchant and Channel Partner clients. Advantex offers a range of products and services including coalition loyalty rewards programs, online shopping malls, direct marketing, online and email promotion, and data capture and award processing systems. Advantex loyalty partners include CIBC, United Airlines, Delta Air Lines, The New York Times, Alaska Airlines, US Airways, and other major North American corporations, as well as a growing list of restaurants, online retailers, golf courses, small inns and resorts. Advantex is traded on the Toronto Stock Exchange under the symbol "ADX". For additional information on Advantex, please visit www.advantex.com. This press release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Advantex cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what Advantex currently foresees. Discussion of the various factors that may affect future results is contained in Advantex's recent filings with Canadian securities regulatory authorities. %SEDAR: 00004122E
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