Business
Pulse Data Inc. responds to Quantum Yield Inc. offer
Pulse Data Inc. responds to Quantum Yield Inc. offer.
About this update from Pulse Seismic Inc.
[{"type":"text","content":"\n\n\n\nTSX : PSD\n\n\nCALGARY, June 20 /CNW/ - Pulse Data Inc. ("Pulse" or the "Company")\nannounces that it has received from Quantum Yield Inc. ("Quantum") an\nunsolicited offer to acquire all of the outstanding shares of Pulse for\n$3.05 (Cdn) principal amount of a debenture of Quantum in exchange for each\nPulse share.\n\n\nPulse had no prior discussions with Quantum and no prior indication that\nthe offer was being made. Pulse, its directors and its advisers are reviewing\nthe offer. In terms of initial reaction, the consideration offered by Quantum\nappears to be highly unusual and speculative. Upon completion of the proposed\noffer, Quantum would have a capital structure consisting of 100% debt and no\nequity. In addition, the description of the terms of the Debentures offered by\nQuantum is extremely vague and imprecise and have no current liquidity.\nShareholders and investors should carefully consider what value the Quantum\noffer represents.\n\n\nPulse recommends that its shareholders defer making any decision and not\ntender any shares to the offer until the Board of Directors has had an\nopportunity to review the offer and make a recommendation as to the merits.\nShareholders will be notified promptly of any recommendations by the Board in\naccordance with applicable securities laws.\n\n\nPulse trades on the Toronto Stock Exchange under the symbol PSD.\n\n\nCertain information contained herein may constitute forward-looking\nstatements under applicable securities laws. Such statements are subject to\nknown or unknown risks and uncertainties that may cause actual results to\ndiffer materially from those anticipated or implied in the forward-looking\nstatements. Investors are encouraged to review the "Risk Factors" section of\nthe Management's Discussion and Analysis in the Company's most recent Annual\nReport and interim reports for a discussion of risks that could affect the\nCompany's operations and financial results. Forward-looking statements are\nbased upon management's assumptions, expectations and estimates at the time\nthat such statements are made. Pulse does not update forward-looking\nstatements should circumstances change or management's assumptions,\nexpectations or estimates change, except as required by law.\n\n\n","length":2357,"tagName":"div"}]