TORONTO, Oct. 17 /CNW/ - Howell Data Systems Inc. announced on August 7,
2007 that it acquired as partial consideration for the sale of its Quick
Service Restaurant division to Hosted Data Transaction Solutions Inc. (the
"Corporation"), 4,545,454 common shares of HDS, representing 18.51% of the
issued and outstanding common shares of HDX ("Common Shares") at a price of
C$0.88 per Common Share for the partial consideration of C$4,000,000. The
remainder of the C$8,000,000 consideration was paid by C$4,000,000 in cash on
Mr. Paul Howell, President and Chief Executive Officer and a director of
the Corporation, owns or controls all voting shares of Howell Data Systems
Inc. Prior to the acquisition, Mr. Howell held approximately 6.79% of the
Corporation's outstanding Common Shares. Immediately after the transaction,
Mr. Howell owned or controlled, directly and indirectly through Howell Data
Systems Inc., 5,385,454 Common Shares, representing approximately 22.32% of
the Corporation's outstanding Common Shares.
These securities have been acquired or are controlled by Mr. Howell for
investment purposes only and he may acquire additional securities or dispose
of his beneficial ownership, control or direction over securities through
market transactions, private placements, treasury issuances or otherwise as
circumstances or market conditions warrant or arise.
For further information:
For further information: Paul Howell, Howell Data Systems Inc., 170-1
Memorial Avenue, Suite 202, Orillia, Ontario, L3V 7M9, 1-800-410-6871 ext.