Shareholders Advised To Take No Action In Response To Unsolicited
WATERLOO, ON, June 30 /CNW/ - Virtek Vision International Inc. ("Virtek"
or the "Company") (TSX:VRK) announced today that the Company has engaged
Genuity Capital Markets ("Genuity") as financial advisor. Genuity will assist
with the review of an unsolicited takeover bid by StockerYale, Inc.
("StockerYale) (NASDAQ: STKR), as well as a review of strategic alternatives to
the StockerYale bid.
Virtek's Board of Directors previously announced that it has appointed a
Special Committee of independent directors to evaluate the unsolicited bid.
The Special Committee will consider alternatives and make recommendations to
the Board. It has oversight of the process of reviewing and responding to the
Virtek shareholders are advised to take no action on the StockerYale bid
until Virtek's Board provides a formal response.
Shareholders may call toll-free the information agent, Kingsdale
Shareholder Services Inc., at 1-866-581-1571.
About Virtek Vision International Inc.
Virtek Vision International Inc. is a leading provider of high value
industrial laser solutions focused on the needs of the global manufacturing
sector, providing templating, inspection, marking and engraving products.
Virtek serves customers in the prefabricated construction, transportation,
metalworking, tool and die and mold making industries worldwide. Virtek is a
full service provider, with services including manufacturing, development,
integration, training, after sales support and installation. The Company
delivers high value to our customers, including feature-rich systems with a
quick payback, productivity enhancements and total turnkey solutions. The
majority of Virtek's sales are in the United States and Europe. Virtek
maintains offices in Waterloo, Ontario, Canada; Boston, Massachusetts, United
States; Ludenscheid and Nurnberg, Germany; and Busto Arsizio, Italy. Please
visit www.virtek.ca for more information.
Except for historical information provided herein, this press release may
contain information and statements of a forward-looking nature concerning the
future performance of the Company. These statements are based on suppositions
and uncertainties as well as on management's best possible evaluation of
future events. Such factors may include, without excluding other
considerations, fluctuations in quarterly results, evolution in customer
demand for the Company's products and services, the impact of price pressures
exerted by competitors, and general market trends or economic changes. As a
result, readers are advised that actual results may differ from expected
For further information:
For further information: about Virtek Vision International Inc. please
visit www.virtek.ca or contact: Peter Monsberger, VP Finance and CFO, Tel:
(519) 746-7190, Fax: (519) 746-3383, e-mail: email@example.com;
Stephen J. Sorocky, President and CEO, Tel. (519) 746-7190, Fax. (519)
746-3383, e-mail: firstname.lastname@example.org; Investor Relations Contact: Jo
Mira Clodman, Clodman Hecht Communications Inc., (416) 787-3773, e-mail: