TORONTO, Dec. 29, 2020 /CNW/ - Optiva Inc.
("Optiva" or the "Company") (TSX: OPT) announced
today that its board of directors has established a financing
committee (the "Financing Committee"), consisting of
independent directors Robert Stabile
and Anuroop Duggal, to conduct a
process to review and assess, among other things, Optiva's
alternatives to complete a financing transaction involving the
issuance of subordinate voting shares or other securities of the
Company. As part of the Financing Committee's process, it is
expected that the Financing Committee will fairly consider in an
evenhanded manner any reasonable financing alternatives that may be
made available to the Company in accordance with that process,
including without limitation from any existing shareholder of the
Company or OceanLink Management Ltd. There can be no
assurance that any such financing alternatives will be made
available to the Company on terms that the Financing Committee
considers to be in the best interests of Optiva, or that any
financing or other transaction will be completed by the
Company.
The Company also announced today that Andrew Price and Neeraj
Gupta have been added to the Company's board of
directors. Biographies of Messrs. Price and Gupta will be
added to the Company's website. Mr. Robert Stabile, Chair of the Board,
stated: "We welcome Andrew and Neeraj to the board and look
forward to their positive contribution to Optiva going
forward."
About Optiva Inc.
Optiva Inc. is a global leader in providing communication
service providers (CSPs) with cloud-native revenue management
software on the public cloud. CSP operators and mobile virtual
network operators can integrate our best-of-breed charging engine
into a BSS stack or deploy our fully managed, end-to-end,
SaaS-based suite. Optiva solutions offer unmatched speed, scale,
security and savings. Our market knowledge, analytical insights and
unique Customer Success Program ensure telecoms are equipped to
achieve their strategic business goals. Established in 1999, Optiva
Inc. is on the Toronto Stock Exchange (TSX: OPT). For more
information, visit www.optiva.com.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements and
forward looking information within the meaning of applicable
securities laws including, without limitation, statements regarding
the activities of the Financing Committee and the Company's
consideration of financing alternatives. Often, but not always,
forward-looking statements can be identified by the use of words
such as "plans", "expects", or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or describes
a "goal", or variation of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. These statements are
forward looking and are based on the Company's expectations as of
the date of this press release. There is no assurance that any
forward-looking statements will materialize. Risks that could cause
our results to differ materially from our current expectations
include the risk that funds may not be available to the Company on
terms that the Financing Committee considers to be in the best
interests of Optiva, or at all; and those risks regarding the
Company's business discussed in the Company's most recent annual
information form, which is available on SEDAR at
www.sedar.com and on Optiva's website at
www.optiva.com/investors/. The Company disclaims any intention or
obligation to update any forward-looking statements, except as
required by law, even if new information becomes available, as a
result of future events or for any other reason.
SOURCE Optiva Inc.