CALGARY, June 29 /CNW/ - The Alberta Securities Commission (ASC) has
issued a Cease Trade Order against Quantum Yield Inc. in connection with its
take-over bid of Pulse Data Inc., which proceeded as follows:
- On 19 June 2007 Quantum Yield announced an offer to purchase all of
the outstanding common shares of Pulse Data.
- Quantum Yield described the terms of the offer in a June 19 take-over
bid circular that was filed on SEDAR but not mailed to shareholders
of Pulse Data.
- Pulse Data applied to the ASC on June 25, 2007 seeking to cease trade
the take-over bid (and other relief).
- On June 29, 2007 Quantum announced that it had withdrawn the offer
and filed a notice to that effect on SEDAR.
The ASC panel issued the Cease Trade Order after reviewing submissions
that suggested the take-over bid circular filed by Quantum Yield on June 19,
2007 contained prohibited representations and significant deficiencies.
A copy of the Cease Trade Order is available on the ASC website at
The ASC is the regulatory agency responsible for administering the
province's securities laws. It is entrusted to foster a fair and efficient
capital market in Alberta and to protect investors. As a member of the
Canadian Securities Administrators, the ASC works to improve, coordinate and
harmonize the regulation of Canada's capital markets.
For further information:
For further information: For Media Inquiries: Tamera Van Brunt,
Director, Communications and Investor Education, (403) 297-2664; For Investor
Inquiries: ASC Public Inquiries, (403) 297-4296, Toll Free 1-877-355-0585