MONTREAL, Feb. 11 /CNW Telbec/ - The independent committee of the board
of directors of ISACSOFT Inc. (TSX-V: ISF) announces today that it is
currently in discussions with Ronald Brisebois, Isacsoft's Founder, Chairman
and CEO and shareholder of just over 14%, in respect of a potential
privatization of Isacsoft by an entity controlled by Ronald Brisebois. The
independent committee has been informed today that Desjardins Venture Capital,
the second largest shareholder of Isacsoft with a participation of 13.78%, has
entered into a lock-up agreement in support of such privatization at a price
of $0.33 per share.
This announcement is in line with Isacsoft ongoing review of its
strategic alternatives which started in February 2007.
Additional information relating to such proposal will be made public at
such time as there is agreement on the final terms. There can be no assurance
however that a transaction with Ronald Brisebois or any other party will be
entered into and no timetable has been set for the completion of any such
ISACSOFT is a provider of software business solutions, information
technology-training and systems integration consulting to its national and
international customers. The revenue model is based on software licences,
recurring revenues and strategic projects targeting key customers. ISACSOFT is
headquartered in Montréal, Canada with offices in Québec City, Paris, London,
Cologne and The Hague.
This news release may contain forward-looking statements relating to the
Company and/or the environment in which it operates that are based on the
Company's expectations, estimates and forecasts. These statements are not
guaranteed and involve risks and uncertainties that are difficult to predict
and/or are beyond the Company's control. A number of factors may cause actual
outcomes and results to differ materially from those expressed. These factors
include those set forth in other public filings of the Company. Therefore,
readers should not place undue reliance on these forward-looking statements.
In addition, these forward-looking statements speak only as of the date made
and the Company disavows any intention or obligation to update or revise any
such statements as a result of any event, circumstance or otherwise. Factors
which may influence the likelihood of completion of a transaction or other
alternative include, among other things: the ability of the Company to
successfully implement its strategic initiatives and whether such strategic
initiatives will yield the expected benefits; competitive conditions in the
businesses in which the Company participates; general economic conditions and
normal business uncertainty; fluctuations in foreign currency exchange rates;
changes in the Company's relationship with its suppliers; and changes in laws,
rules and regulations.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Claude Gobeil, Vice-President Finance and CFO,
(514) 282-7073, ext. 299, email@example.com