CALGARY, Sept. 14, 2016 /PRNewswire/ - SMART Technologies
Inc. (NASDAQ: SMT) (TSX: SMA) ("SMART" or the "Company"), a leading
provider of education and business collaboration solutions,
announces that the Company and Foxconn Technology Group ("Foxconn")
have closed the previously announced arrangement pursuant to a plan
of arrangement under the Business Corporation Act
(Alberta) (the "Arrangement").
Under the terms of the Arrangement, Foxconn has acquired all of the
issued and outstanding common shares ("Common Shares") of SMART at
a price of US$4.50 in cash for each
Common Share.
The Common Shares are expected to be delisted from the Toronto
Stock Exchange and the NASDAQ Stock Market two or three business
days following the completion of the Arrangement.
Letters of Transmittal have been forwarded to registered
security holders of SMART to be used in order to exchange their
Common Shares for the cash consideration payable pursuant to the
Arrangement. Additional copies may be obtained by contacting SMART
or Computershare Investor Services Inc. at its telephone numbers
and locations set out in the Letter of Transmittal.
Detailed information regarding the Arrangement can be found in
SMART's management information circular dated June 17, 2016 which has been filed on SEDAR at
www.sedar.com and on EDGAR at www.sec.gov.
About SMART
SMART Technologies Inc. (NASDAQ: SMT, TSX:
SMA) is a world leader in simple and intuitive solutions that
enable more natural collaboration. We are an innovator in
interactive touch technologies and software that inspire
collaboration in both education and business around the globe. To
learn more, visit smarttech.com.
SMT – F
Reader's advisory
Certain information contained in
this press release may constitute forward-looking information
including, without limitation, statements concerning the expected
timing of delisting of the Common Shares. By their very nature,
forward-looking information and statements involve inherent risks
and uncertainties, both general and specific, and risks that
predictions, forecasts, projections and other forward-looking
information and statements will not be achieved. We caution readers
not to place undue reliance on these statements as a number of
important factors could cause the actual results to vary materially
from the forward-looking information or statements. We do not
assume responsibility for the accuracy and completeness of the
forward-looking information or statements. Any forward-looking
information and statements contained in this press release are
expressly qualified by this cautionary statement.
Early Warning Disclosure
As a result of the
Arrangement, 689522 N.B. Ltd. ("AcquisitionCo") owns
and controls 100% of the Common Shares of SMART. AcquisitionCo will
file an early warning report, pursuant to National Instrument
62-103, in respect of its acquisition of the Common Shares of
SMART. A copy of this report may be obtained from the Company's
SEDAR profile at www.sedar.com.
©2016 SMART Technologies Inc. All third-party product and
company names are for identification purposes only and may be
trademarks of their respective owners. To view a list of SMART
trademarks please visit our Trademarks and Guidelines
page.
Please note that SMART is written in all capital
letters.
SOURCE SMART Technologies Inc.