Solium Announces Acquisition of GlobalSharePlans
CALGARY, Dec. 5, 2013 /CNW/ - Solium Capital Inc. ("Solium" or the "Company") (TSX: SUM), the leading global provider of software-as-a-service for equity administration, financial reporting and compliance, today announced that it will acquire GlobalSharePlans, a leading online provider of regulatory and tax advice for companies with global equity incentive plans.
GlobalSharePlans provides regulatory and tax advice through online databases, automated alerts and a network of experts spanning more than 150 countries, helping companies to put in place international equity incentive plans across multiple tax jurisdictions and ensure compliance with local laws and regulations. GlobalSharePlans provides a strong functional complement to Solium's Shareworks™ platform, further enhancing Solium's industry leading global taxation and compliance services that help reduce the cost of ownership of administering global share plans.
Consideration for the acquisition will include cash and the issuance of approximately 200,000 common shares in the capital of Solium. The actual number of shares to be issued will be determined at closing using the volume weighted average price of the common shares for the five days of trading on the TSX preceding closing.
The transaction is expected to close January 2, 2014. The completion of the transaction is subject to approval by the TSX for the issuance of the shares.
About Solium Capital Inc.
Solium Capital Inc. (TSX: SUM) provides cloud-enabled services for global equity-based incentive plans administration, financial reporting and compliance. From operation centers in the United States, Canada, the United Kingdom and Australia, our innovative software-as-a-service (SaaS) technology powers share plan administration and equity transactions for more than 3,000 corporate clients with employee participants in more than 150 countries. Follow us @Solium and visit us at www.solium.com.
Forward Looking Information
Certain information included herein is forward-looking, within the meaning of applicable Canadian securities laws. Forward-looking information in this news release includes the anticipated closing date of the acquisition, the number of shares issuable as consideration for the acquisition and the successful integration of GlobalSharePlans in the Shareworks platform. Solium believes the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such information should not be unduly relied upon.
Forward-looking information is not a guarantee of future performance. By its very nature, forward-looking information involves inherent assumptions, risks and uncertainties, both general and specific, and risks that predictions, forecasts, projections and other forward-looking information will not be achieved. These risks include, but are not limited to, risks associated with the ability to satisfy regulatory and commercial closing conditions of the acquisition, fluctuations in share prices, the uncertainty associated with successful integration of third party technology and the risks related to the operating and financial results of Solium's businesses, including those identified in Solium's 2013 Annual Information Form under the heading "Risk Factors". Should one or more of these risks and uncertainties materialize, or should assumptions described above prove incorrect, Solium's actual performance and results may differ materially from any projections of future performance or results expressed or implied by such forward-looking information. We caution readers not to place undue reliance on this information.
Forward-looking information is made as of the date hereof and, except as required by law, Solium does not undertake any obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.
SOURCE Solium Capital Inc.For further information:
Aaron Kabucis, CFA
TMX | Equicom
416.815.0700 x 230