Wizzard Updates Timing for FAB Transaction and Healthcare Spin-off
15 Juni 2012 - 3:44PM
Business Wire
Wizzard Software Corporation (NYSE MKT: WZE), the leading
podcast network, today updated shareholders on several items
related to its anticipated acquisition of FAB and the spin-off of
its Healthcare business.
- The SEC completed its review this week
for our Proxy Statement requesting approval from shareholders to
acquire FAB, among other items. The Proxy Statement is now being
printed and will be mailed to shareholders in the next 10
days.
- Wizzard has set a definitive
shareholder meeting date of July 30, 2012, the timing of which
includes the mandated allotment of time for shareholders to vote
their proxies.
- Wizzard will form a new wholly-owned
subsidiary that will be the parent of Interim Healthcare of
Wyoming, our Healthcare subsidiary.
- Interim Healthcare has requested that
the SEC withdraw its registration statement relating to the
spin-off and the new subsidiary will file a new registration
statement in its place. This is being done to ensure compliance
with the terms of the current Interim Healthcare franchise
agreement, which requires a parent or holding company for publicly
held companies.
- A new record date for the dividend of
the spin-off shares will be set and announced closer to the July
30th shareholder meeting date.
The acquisition of FAB by Wizzard, is subject to approvals by
each company’s shareholders, the satisfaction of customary closing
conditions and regulatory approvals both in the U.S. and China.
About Wizzard Software:
Wizzard Software provides podcast publishers with distribution
and monetization services. Our clients include Microsoft, National
Geographic, Harvard Business Review, NPR and more than 10,000
others who use Wizzard Media products to measure their podcast
audience, deliver popular audio and video entertainment and
monetize their content through advertising and App sales and
subscriptions. In 2011, the Wizzard Media Network received well
over 1.64 billion podcast requests from approximately 50 million
people worldwide through iPods, iPhones, iPads, iTunes,
Blackberrys, Windows Phones, Zunes, Androids and many other devices
and destinations. We are part of a publicly held, Pittsburgh based
company with thousands of shareholders and a world-class team.
Visit us on the web at www.wizzardsoftware.com/media, email us at
contact@wizzard.tv.
Legal Notice
Legal Notice Regarding Forward-Looking Statements:
"Forward-looking Statements" as defined in the Private Securities
litigation Reform Act of 1995 may be included in this news release.
These statements relate to future events or our future financial
performance. These statements are only predictions and may differ
materially from actual future results or events. We disclaim any
intention or obligation to revise any forward-looking statements
whether as a result of new information, future developments or
otherwise. There are important risk factors that could cause actual
results to differ from those contained in forward-looking
statements, including, but not limited to risks associated with
changes in general economic and business conditions, actions of our
competitors, the extent to which we are able to develop new
services and markets for our services, the time and expense
involved in such development activities, the level of demand and
market acceptance of our services and changes in our business
strategies.
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