RICHMOND, BC, May 20 /CNW/ - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that the Government of the United Kingdom has announced the suspension of the Home Information Pack (HIP) legislation. HIPs have been suspended with immediate effect, pending legislation for a permanent solution. This means that obtaining a HIP will no longer be mandatory when a home owner decides to put his or her home on the market.
The company has anticipated this announcement for many months and the plan prepared during this period has now been activated.
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. ("MDA") with respect to future events and financial performance. The forward-looking statements in this regard include statements regarding the suspension of a government initiative and the effects upon MDA. Any such forward-looking statements are based on MDA's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. Any such forward-looking statements are subject to risks and uncertainties and MDA's actual results of operations could differ materially from historical results or current expectations. The factors and assumptions underlying the forward-looking statements in this release include the government initiative being cancelled. MDA cautions readers that should certain risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. The risks that could cause actual results to differ from current expectations include inherent risks in the information products market, including general economic, regulations and competitor changes; changes in government priorities, funding levels, contracts and regulations; susceptibility of customers in property transaction-related industries; and failure to anticipate changes in technology, technical standards and product offerings or comply with the requisite standards.
For additional information with respect to certain of these risks or factors reference should be made to MDA's continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online at www.sedar.com or on MDA's website at www.mdacorporation.com.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.
SOURCE MacDonald, Dettwiler and Associates Ltd.
For further information: For further information: Wendy Keyzer, MDA External Relations, (604) 231-2743, firstname.lastname@example.org