Business
ComnetiX Postpones Annual and Special Meeting Until February 2, 2007
ComnetiX Postpones Annual and Special Meeting Until February 2, 2007.
About this update from Currency Exchange International, Corp.
[{"type":"text","content":"\n\n\n\nOAKVILLE, ON, Jan. 17 /CNW/ - ComnetiX(TM) Inc. (TSX:CXI) today announced\nthat it has decided to postpone the Annual and Special Meeting of Shareholders\nscheduled for January 19, 2007. Pursuant to paragraph 8 of the Interim Order\nof the Ontario Superior Court of Justice - Commercial List dated December 18,\n2006, ComnetiX has the authority to postpone the date of the Annual and\nSpecial Meeting of Shareholders as it deems advisable and subject to the terms\nof the Arrangement Agreement. The meeting will be reconvened for Friday\nFebruary 2, 2007 at 10 AM. The last date on which the meeting can be held\nunder the terms of the Arrangement Agreement is February 5, 2007. The date\nfixed for delivery of proxies will be extended and ComnetiX will advise\nshareholders of that date in due course.\n\n\nIn its Short Form Analysis dated January 2, 2007, Institutional\nShareholder Services of Canada Corp. (\"ISS\"), one of Canada's leading\nauthorities on proxy voting and corporate governance issues, stated in\nresponse to the announced proposed bid by Bio-key International Inc.\n(\"Bio-key\") on December 21, 2006, \"In view of the recent developments, we feel\nit would be prudent for shareholders to study the offer of Bio-key, when such\noffer is made. We therefore recommend that shareholders vote against this\nresolution (approving the Arrangement Agreement).\" In its Proxy Alert dated\nJanuary 11, 2007 in response to the increased offer by L-1 Identity Solutions\nInc. referred to in the ComnetiX press release of January 10, 2007, ISS\nstated, \"While we are encouraged by the amended L-1 offer, it remains a\npossibility that the Bio-key offer, if made, could be a superior offer.\nHowever, due to the lack of sufficient details, we are unable to provide\nfurther comments on the Bio-key offer. We keep our recommendation unchanged\nand will provide updates if warranted by further developments.\"\n\n\nThis morning Bio-key published a Notice of Offer to Purchase all of the\noutstanding common shares of ComnetiX in the Globe & Mail indicating that an\nOffering Circular dated January 17, 2007 would be mailed to ComnetiX\nshareholders. The Board of Directors of ComnetiX will consider the Bio-key\noffer and make its recommendation to the shareholders of ComnetiX as soon as\npossible to allow for review of its recommendation to shareh...