BURNABY, BC, Aug. 30 /CNW/ - ESI Entertainment Systems Inc. ("ESI")
(TSX: ESY) announced today that it has entered into an agreement with Royal
Bank of Canada ("RBC") pursuant to which ESI will accept the surrender of
4,773,606 common shares of ESI held by RBC and certain of its affiliates. The
shares to be surrendered represent all of RBC's interest in ESI and
approximately 25% of ESI's total issued and outstanding common shares.
The surrender is expected to be completed on October 1, 2007 and is
subject to certain approvals and exemptions from Canadian securities
regulators and other third parties. The shares to be surrendered will be
cancelled by ESI upon surrender.
About ESI Entertainment Systems Inc.
ESI Entertainment Systems Inc. ("ESI") (TSX: ESY) provides products and
services to the international gaming industry through its three principal
subsidiaries, Citadel Commerce Corp., ESI Integrity Inc. and PlayLine Inc.
ESI's products and services, which primarily consist of payment processing,
transaction monitoring and turnkey gaming platforms, are deployed in the
on-line and land based gaming markets.
For further information:
For further information: ESI Entertainment Systems Inc., Tony Greening,
Chief Executive Officer and Interim Chief Financial Officer, Telephone: (604)
299-6922, email: email@example.com, Web: www.esi.ca