Mar. 22, 2011 (Canada NewsWire Group) --
TORONTO, March 22 /CNW/ - Datex Technologies Corporation (TSX-V "DTC") ("Datex" or the "Company") announced today that it has completed its previously announced "going private transaction" by way of an amalgamation ("Amalgamation") involving the Company and 2272107 Ontario Limited ("Newco"), a corporation controlled by James Dawson, Lori Dawson, Marc Carrafiello and Edward Leavens and certain corporate entities controlled by such persons. Specifically, the Company and Newco filed articles of amalgamation which became effective on March 22, 2011.
The Company also confirms that its common shares will be delisted from the TSX Venture Exchange as of market close on March 23, 2011.
Under the terms of the Amalgamation, holders of common shares in the Company (other than James Dawson, Lori Dawson, Marc Carrafiello and Edward Leavens and certain corporate entities controlled by such persons) will receive $0.04 in cash for each common share held. Payment of the redemption proceeds will be made to the common shareholders of the Company in accordance with the letters of transmittal submitted by them. Computershare Investor Services Inc., the Company's transfer and depositary agent, will be processing the issuance of cheques to all shareholders.
The Company will now make an application to the applicable securities regulatory authorities to cease to be a reporting issuer.
About Datex
Datex Technologies Corporation is listed on the TSX Venture Exchange. Datex is a leading provider of billing software and services, customer management and order management solutions and telecom expense management services. For more information about Datex, please visit our website at www.datex.ca.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
contact Mr. Jim Dawson, President & CEO
Telephone: (905) 822-2300
Email: jdawson@datex.ca