UBS Shareholders Elect a New Board of Directors
TORONTO, July 5 /CNW/ - Look Communications Inc. ("Look" or the "Corporation") (TSX Venture: LOK and LOK.A) reported today that Unique Broadband Systems, Inc. ("UBS"), the Corporation's majority shareholder (39.2 per cent economic interest and a 37.6 per cent voting interest), held a Special Meeting of its shareholders. The meeting approved a resolution calling for the replacement of UBS' Board of Directors and the election of three new directors - Messrs. Robert Ulicki, Grant McCutcheon and Henry Eaton.
The Look Board of Directors has requested a meeting with the new Board of Directors of UBS and plans to meet with them in the coming days.
About Look Communications Inc.
Look's shares are listed on the TSX Venture Exchange under the symbols "LOK" for Multiple Voting Shares and "LOK.A" for Subordinate Voting Shares. Look's website may be found at www.look.ca.
The corporate information contained in this release includes forward-looking statements regarding future events and the future performance of Look that involve risks and uncertainties that could cause actual results to differ materially. Assumptions used in the preparation of such information, although considered reasonable by Look at the time of preparation, may prove to be incorrect. The actual results achieved may vary from the information provided herein and the variations may be material. Consequently, there is no representation by Look that actual results achieved will be the same in whole or in part as those forecast.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release should be read in conjunction with UBS' press release of July 5, 2010 announcing the "UBS Announces Election of New Board of Directors - Concerned Shareholders' director nominees immediately replace former Board".
SOURCE Look Communications Inc.
For further information: For further information: Peter Block, Investor and Media Relations, firstname.lastname@example.org, (647) 259-3284; Jason Redman, Chief Financial Officer, (905) 693-3634