By Not for distribution to U.S. newswire services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.
DATA GROUP INC. ANNOUNCES THE COMPLETION OF THE CONVERSION OF THE DATA GROUP INCOME FUND TO A CORPORATION Brampton, Ontario - January 1, 2012 - Data Group Inc. (TSX: DGI) announced that The Data Group Income Fund (the "Fund") has today completed the previously announced plan of arrangement under which the Fund's income trust structure has been reorganized into a dividend paying public corporation named "Data Group Inc." The Fund's unitholders approved the plan of arrangement on May 17, 2011.
Under the plan of arrangement, holders of units of the Fund
received common shares (the "Shares") of Data Group Inc. in
exchange for their units, on a one-for-one basis. Data Group
Inc. also assumed all of the covenants and obligations of the
Fund under its outstanding 6.00% convertible unsecured
subordinated debentures (the "Debentures"). On conversion of
the Debentures, debentureholders are now entitled to receive
Shares, rather than units, on the basis of one Share in lieu
of each unit of the Fund which the debentureholder was
previously entitled to receive, subject to adjustment in
accordance with the terms of the trust indenture. Data Group
Inc. now has 23,490,592 common shares outstanding. Common
shares of Data Group Inc. will commence trading on the
Toronto Stock Exchange (the "TSX") on January 3, 2012 under
the symbol "DGI". The Debentures will commence trading on the
TSX on January 3, 2012 under the symbol "DGI.DB.A".
Data Group Inc. now indirectly operates the businesses which
were previously operated by the Fund's subsidiaries. The
management and trustees of the Fund are now the management
and directors of Data Group Inc.
The cash distribution of the Fund of $0.0542 per unit payable
on January 13, 2012 to unitholders of record on December 31,
2011 for the period from December 1, 2011 to December 31,
2011, which was previously announced by the Fund on December
16, 2011, will be paid by Data Group Inc. on behalf of the
Fund.
Data Group Inc. also announced that its wholly-owned
subsidiary has entered into an amended and restated credit
agreement effective January 1, 2012 reflecting the changes in
the Fund's corporate structure resulting from the
reorganization. The terms of the amended and restated credit
agreement
are otherwise substantially similar to those contained in the
credit facility previously maintained by the Fund's
subsidiary with the same lending syndicate.
Data Group Inc. also announced that the board of directors of
Data Group Inc. has adopted a shareholder rights plan as
contemplated by the management proxy circular of the Fund
dated April
14, 2011, in the form set out in the circular. The plan was
approved by the Fund's unitholders at the annual and special
meeting of such unitholders held on May 17, 2011.
Data Group Inc. is a leading provider of document management
and marketing solutions. We provide integrated web and print
based communications and information management and
associated professional services. We differentiate ourselves
and provide value to our customers by focusing on innovative,
high value solutions and on exceptional performance at
delivering on our promises and commitments. We have over
1,950 employees working from 33 locations across Canada to
accomplish this.
Additional information relating to Data Group Inc. is
available at our main web site; www.datagroup.ca, our
investor web site; www.datagroupincomefund.com and on the
System for Electronic Document Analysis and retrieval (SEDAR)
at www.sedar.com in the disclosure documents filed by Data
Group Inc. and the Fund.
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Mr. Michael Suksi President and CEO Data Group Inc.
Tel: (905) 791-3151
Mr. Paul O'Shea
Chief Financial Officer
Data Group Inc.
Tel: (905) 791-3151
| distribué par | Ce noodl a été diffusé par The Data Group Income Fund et initialement mise en ligne sur le site http://www.datagroupincomefund.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-02 15:03:49 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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