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.
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.
SOURCE GUEST-TEK INTERACTIVE ENTERTAINMENT LTD.
For further information: For further information: Mr. Arnon Levy, President & Chief Executive Officer, Guest-tek(TM), Telephone: (403) 444-8506, email: email@example.com