CALGARY
,
Nov. 30
/CNW/ - Guest Tek Interactive Entertainment Ltd., ("Guest-tek" or "the Corporation") (TSX:GTK), a world-class provider of broadband technology solutions to the hospitality industry, announced today that that it has completed the previously announced going-private transaction, pursuant to a plan of arrangement (the "Arrangement") under section 193 of the Business Corporations Act (Alberta) (the "ABCA") involving the Corporation, the shareholders of the Corporation and 1456537 Alberta Inc (the "Purchaser"). An annual general and special shareholders meeting was held on
November 26, 2009
and the shareholders of the Corporation considered and approved, among other things, the Arrangement. Under the Arrangement, the Purchaser has acquired all of the issued and outstanding common shares of the Corporation not owned by the shareholders of the Purchaser at
$0.50
per share. The Court of Queen's Bench of Alberta approved the Arrangement by granting a final order on
November 27, 2009
. The Articles of Arrangement, giving effect to the Arrangement under the ABCA, were filed on
November 30, 2009
. The common shares of the Corporation will be delisted from the
Toronto
Stock Exchange in due course.
About Guest-tek(TM)
Guest-tek(TM) is the world's largest provider of IP based technology solutions for the hospitality industry. Guest-tek's(TM) OneView(TM) platform provides hotels with converged data, video and telephony services. Guest-tek(TM) is a preferred vendor to major hotel brands, providing services including network design, procurement, implementation, and post sales customer support to 2,668 properties and over 450,000 rooms. Guest-tek's(TM) common shares trade on The
Toronto
Stock Exchange under the trading symbol "GTK".
The Company's head offices are in
Calgary
, Alberta, and it has major support facilities in Irvine, California, and
Warsaw
,
Poland
as well as Sales offices located throughout
North America
and
Europe
. For more information about Guest-tek(TM), go to www.guest-tek.com.
For further information: Mr. Arnon Levy, President & Chief Executive Officer, Guest-tek(TM), Telephone: (403) 444-8506, email: [email protected]
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