VANCOUVER, Jan. 18 /CNW/ - CMS Acquisition Corporation, a member of the
Solarsoft Business Systems group (collectively, "Solarsoft"), announced today
that all of the conditions of the take-over bid for the outstanding common
shares ("Common Shares") of VantagePoint Systems, Inc. ("VantagePoint") have
been satisfied or waived. A total of 14,113,046 Common Shares have been
validly deposited, representing 97.03% of the issued and outstanding Common
Solarsoft has instructed the depositary, Computershare Investor Services
Inc., to take up all of the Common Shares validly deposited pursuant to the
offer. Payment to VantagePoint shareholders who deposited their Common Shares
under the offer will be made as soon as possible and in any event not later
than three business days following the take-up of such Common Shares.
Solarsoft also announces that it has sent a Notice of Compulsory
Acquisition to all remaining shareholders of VantagePoint pursuant to the
Business Corporations Act (British Columbia) to acquire the remaining Common
Shares not deposited under the offer.
Solarsoft intends to cause VantagePoint to de-list the Common Shares from
the TSX Venture Exchange and to apply to securities regulatory authorities for
it to cease to be a reporting issuer.
About VantagePoint Systems, Inc.
VantagePoint develops business software for packaging manufacturing
companies and provides complete implementation, product support, and technical
services to its customers. VantagePoint's software solutions address the
entire spectrum of packaging manufacturing including corrugated packaging,
folding cartons, retail displays, food and beverage packaging, labels, and
multi-wall bags. VantagePoint software operates some of the largest packaging
companies in the world including Smurfit-Stone, Georgia-Pacific, International
Paper, and Menasha Packaging. VantagePoint also operates HRMS, Inc. as a
wholly-owned subsidiary that provides business software for entry to mid-size
corrugated packaging and retail display manufacturers. Collectively,
VantagePoint's software has been selected by over 700 packaging plants
throughout North America and internationally, which positions VantagePoint as
one of the leading suppliers of business software and related services to the
paperboard and packaging industry. VantagePoint's headquarters are located in
Vancouver, BC, Canada, with offices in Lombard, IL and Leicester, UK.
VantagePoint trades on the TSX Venture Exchange under the symbol VPG. For more
information, visit www.vpgroup.com.
About Solarsoft Business Systems
In April 2007, CMS Software, Inc. of Toronto and UK-based XKO Software
Ltd. merged to form Solarsoft Business Systems. Today, Solarsoft provides
modern enterprise software and IT services to manufacturers, distributors and
wholesalers in North America, Europe and Asia. Over 1,500 companies rely on
Solarsoft systems to bring clarity and efficiency to their business
operations. Solarsoft has 25 years experience solving problems in accounting,
finance, inventory control, warehouse management, e-commerce, logistics,
manufacturing resource planning and management information. The business now
serves customers from 12 offices in North America, Europe and Asia. Solarsoft
employs over 300 people and generates annual revenue in excess of $50 million.
Solarsoft Business Systems is a portfolio company of Marlin Equity Partners
(C) 2007 VantagePoint Systems, Inc. All Rights Reserved.
BusinessVantagePoint, VantagePoint Accelerate and HRMS are trademarks
and/or registered trademarks of VantagePoint Systems, Inc. All other
trademarks are trademarks and/or registered trademarks of their
Certain statements herein relating to the Offer and associated
transactions, including statements regarding the terms and conditions of the
Offer and associated transactions, may be "forward-looking statements" within
the meaning of applicable securities laws. Readers are cautioned not to place
undue reliance on forward-looking statements. Actual results and developments
may differ materially from those contemplated by these statements depending
on, among other things, the risks that the ultimate terms of the Offer and
associated transactions will differ from those that currently are contemplated
and that the Offer and associated transactions will not be successfully
completed for any reason. These forward-looking statements are made as of the
date hereof and VantagePoint assumes no obligation to update any
forward-looking statements to reflect new events or circumstances.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
For further information:
For further information: VantagePoint Systems, Inc., Michael Rusch,
Chief Financial Officer, Tel: (604) 678-0326, Email:
firstname.lastname@example.org; Solarsoft Business Systems, Steven Hargreaves, Tel:
+44 (0)8447 700900 ext 5566, Email: email@example.com