CALGARY, Oct. 31 /CNW/ - CriticalControl Solutions Corp., (TSX-V:CCZ)
advises that an Annual & Special Meeting (the "Meeting") of the holders of
common shares ("Common Shares") of CriticalControl Solutions Corp. (the
"Corporation") will be held in the Conference Room located on the 3rd Floor at
840 - 7th Avenue SW, Calgary, Alberta, on November 26, 2008 at 10:30 a.m.
(Calgary time) for the following purposes:
1. to receive and consider the consolidated financial statements of the
Corporation for the financial year ended December 31, 2007 and the
auditor's report thereon;
2. to fix the number of directors to be elected at the Meeting at not
more than 7;
3. to elect directors of the Corporation for the ensuing year;
4. to appoint KPMG LLP as the auditors of the Corporation;
5. to approve an amendment to the articles of the Corporation, to be
implemented at the discretion of the Board of Directors of the
Corporation, to consolidate the Common Shares in the capital of the
Corporation such that every three (3) pre-consolidation Common Shares
of the Corporation shall be consolidated into
one (1) post-consolidation Common Share of the Corporation;
6. to approve an amendment to the Deferred Share Purchase Plan to enable
directors to elect to receive all or any portion of their annual fees
or bonuses (in the case of directors who are also executive officers)
in the form of cash or deferred shares; and
7. to transact such other business as may properly be brought before the
Meeting or any adjournment thereof.
The specific details of the matters proposed to be put before the Meeting
are set forth in the Information Circular, mailed to the shareholders of the
Corporation, which is available on the Corporation's website and on
The proposed share consolidation is subject to shareholder approval,
TSX Venture Exchange acceptance and the ultimate discretion of the board of
directors to implement the consolidation. Subject to these conditions, the
126,750,014 shares of the Corporation that are currently outstanding would be
reduced to approximately 42,250,005 shares. Management of the Corporation
believes that the anticipated higher share price resulting from the
consolidation may meet share price investment guidelines for certain investors
that are currently prevented under those guidelines from investing in the
Corporation's common shares at current price levels.
No fractional shares will be issued. Any fractions of a share will be
rounded down to the nearest whole number of common shares. Implementation of
the share consolidation does not have an effect on the actual or intrinsic
value of the business of the Corporation, nor will it require a change in the
name of the Corporation.
CriticalControl enables its clients to increase operational performance
through the better control of critical business information. Through the
balance of practicality, innovation and technology, we empower our clients
with everything from strategies and tools, to outsourced solutions to manage
information, wherever and in whatever form that information exists.
This media release may contain certain forward-looking statements that
reflect the current views and/or expectations of CriticalControl Solutions
Corp. with respect to their respective performance, business, and future
events. Such statements are subject to a number of risks, uncertainties, and
assumptions as outlined in the Company's filings with the Canadian securities
regulatory authorities. Actual results and events may vary.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: Alykhan Mamdani, President & CEO, Tel (403)
705-7500; or David Feick, The Equicom Group, Tel (403) 538-4787,