TORONTO, Aug. 20 /CNW/ - Xenos Group Inc. (TSX/XNS) has announced that it
has mutually agreed to terminate the non-binding letter of intent for a
possible acquisition of all Xenos' shares for a cash consideration of
Cdn $3.00 that it had previously entered into with an undisclosed third party.
The Special Committee of the Directors of Xenos appointed by the Board
will continue to review strategic alternatives with a view to enhancing
shareholder value. There can be no assurances that this processes will result
in any specific action being taken by the Company.
The Company is confident that the execution of its current business plan
will continue to build value for the benefit of its shareholders.
Xenos (TSX: XNS) high-performance data and document management solutions
provide organizations with a powerful competitive advantage - adaptability.
Xenos powers information supply chains - without re-engineering - by
transforming and repurposing both static and transactional information.
Xenos solutions increase the efficiency, agility and accountability of
organizations worldwide across a wide variety of industries including
financial services, insurance, healthcare, telecommunications, manufacturing,
logistics, transportation, retail and government sectors. Xenos has offices in
Canada, the United States, the United Kingdom and France and sells and
supports its solutions directly and through a global network of resellers and
partners. For more information, visit www.xenos.com.
Xenos trades on the Toronto Stock Exchange under the trading symbol
For more information, visit www.xenos.com.
Certain statements made in this press release are forward-looking within
the meaning of certain securities laws. Such forward-looking statements are
based on a number of assumptions and involve known and unknown risks,
uncertainties and other factors that may cause the actual results, performance
or achievements of the Company or developments in the Company's business or
its industry to differ materially from the anticipated results, performance,
achievements or developments expressed or implied by such forward-looking
statements. The Company urges you not to place undue reliance on these
estimates, opinions and projections. The Company assumes no obligation to
update forward-looking statements if assumptions or these plans, estimates,
opinions or projections should change.
For further information, visit www.xenos.com.
(C) 2007 Xenos Group Inc. All rights reserved.
For further information:
For further information: Stuart Butts, Chief Executive Officer, Tel:
(905) 709-1020, Fax: (905) 709-1023, E-mail: email@example.com