Business
Total Telcom Responds to Dissident Circular
Mar. 23, 2011 (Canada NewsWire Group) -- KELOWNA, BC and EDMONTON, March 23 /CNW/ - TOTAL TE...
About this update from Total Telcom Inc.
[{"type":"text","content":"\n\n\n Mar. 23, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nKELOWNA, BC and EDMONTON, March 23 /CNW/ - TOTAL TELCOM INC. (TSX Venture: TTZ) Total Telcom Inc. ("Total Telcom" or the "Company") today responds to\n the dissident circular dated March 10, 2011 distributed by a group so\n called the "Committee to Save TTZ" (the "Dissident Group") in an\n attempt to take control of the Board of Directors of Total Telcom\n ("BOD").\n\n\nTotal Telcom urges shareholders to support the current BOD and oppose an\n attempt by dissidents to seize control of the BOD without paying a\n premium at an Annual and Special meeting scheduled for March 30, 2011.\n\n\nBOD Take Over Attempt to Drain Cash Reserves and Dilute Shares\n\n\nTotal Telcom believes the attempt to take over the BOD is a guise and\n self serving attempt to drain the cash reserves and dilute the Company\n shares. Total Telcom's proposed Board of Directors interests are\n aligned with our shareholders, as evidenced by their ownership of\n 5,046,114 shares or 20%, compared with 300,000 shares owned by the\n dissident group of nominees. The Dissident Group consists of 5 people. \n They are proposing 4 nominees to act as directors.  Of the Dissident\n Group and proposed dissident nominees, ONLY 3 are shareholders of the\n Company.  Furthermore, of the 3 shareholders, these holdings seem to be\n a recent acquisition for the purpose of taking over the Company. The\n d...