TORONTO, March 15, 2016 /CNW/ - Redline Communications (www.rdlcom.com) Group Inc. (TSX: RDL)("Redline" or the "Company") announces today that the Toronto Stock Exchange has accepted notice for filing of the shareholder rights plan (the "Rights Plan") adopted by Redline on March 7, 2016, subject to ratification by Redline's shareholders within six months. Such approval will be sought at the upcoming annual general and special meeting of the Company, which is expected to be held in June 2016. If ratified by the shareholders of Redline, the Rights Plan will have an initial term of three years.
The primary objectives of the Rights Plan are to ensure that, in the context of a bid for control of the Company through an acquisition of shares of the Company, all shareholders have an equal opportunity to participate in the bid and are given adequate time to assess the bid. The Rights Plan is not intended to prevent take-over bids that treat shareholders fairly and offer fair value, and permits bids that meet certain requirements intended to protect the interests of all shareholders.
The description of the Rights Plan in this news release is qualified in its entirety by the full text of the rights plan, a copy of which is available under Redline's profile on SEDAR at www.sedar.com.
About Redline Communications
Redline Communications (www.rdlcom.com) is the creator of powerful wide-area wireless networks for mission-critical applications in challenging locations. Redline networks are used by oil and gas companies to manage onshore and offshore assets, by militaries for secure battlefield communications, by municipalities to remotely monitor infrastructure, and by telecom service providers to deliver premium services. Hundreds of businesses worldwide rely on Redline to engineer, plan and deliver ruggedized, secure and reliable networks for their M2M, voice, data and video communications needs - in locations that include the deserts of the Middle East, the rainforests of South America, and the frozen Alaskan slopes. For more information visit www.rdlcom.com.
Forward Looking Statements
Certain statements in this release may constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws. In some cases, forward-looking statements can be identified by terms such as "could", "expect", "may", "will", "anticipate", "believe", "intend", "estimate", "plan", "potential", "project" or other expressions concerning matters that are not historical facts. Readers are cautioned not to place undue reliance upon any such forward-looking statements.
Such forward-looking statements are not promises or guarantees of future performance and involve both known and unknown risks and uncertainties that may cause the actual results, performance, achievements or developments of Redline to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements, by their nature, are based on certain assumptions regarding expected growth, management's current plans, estimates, projections, beliefs, opinions and business prospects and opportunities (collectively, the "Assumptions"). While the Company considers these Assumptions to be reasonable, based on the information currently available, they may prove to be incorrect.
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SOURCE Redline Communications Group Inc.