Concerned Shareholders Solicit Proxies to Elect Their Nominees to Replace Fortsum's Incumbent Directors
30 April 2008 - 11:55PM
Marketwired
QUEBEC CITY, QUEBEC announced today that they are soliciting
proxies from their fellow shareholders to elect their nominees (the
"Concerned Shareholders' Nominees") to replace the incumbent
directors (the "Incumbent Directors") of Fortsum Business Solutions
Inc. ("Fortsum" or the "Corporation")(TSX VENTURE: FRT) at its
annual and special meeting of shareholders to be held on May 26,
2008. The Concerned Shareholders' Nominees are: Robert Boisjoli,
Giuseppe Crisafi, Raymond Cyr, Louis Lessard, Richard Provencher,
Jean St-Hilaire and Paul St-Louis. Raymond Cyr brings his business
and technology industry knowledge and experience, Guiseppe Crisafi,
Robert Boisjoli and Paul St-Louis collectively bring their M&A
and international financial backgrounds. Richard Provencher brings
his legal and corporate background as a Canadian business lawyer.
Louis Lessard and Jean St-Hilaire have been with the Corporation
since day one and represent the board of directors' continuity as
well as links with various important shareholders.
If elected to the board, the Concerned Shareholders' Nominees
will take all necessary steps to maximize shareholder value to the
benefit of all shareholders. For that purpose, they intend to cause
the Corporation to retain the services of GMP Securities L.P. as
its financial advisors in order to explore all options available to
the Corporation.
The Concerned Shareholders believe their fellow shareholders
should elect the Concerned Shareholders' Nominees because, among
other things:
- Six of the Concerned Shareholders' Nominees are shareholders
of the Corporation and their sole objective is to create value for
all shareholders. They collectively beneficially own, control or
direct, directly or indirectly, 10,083,600 common shares of the
Corporation, representing 21.45% of the Corporation's outstanding
common shares.
- The combined expertise of the Concerned Shareholders' Nominees
will enable them to maximize shareholder value.
The Concerned Shareholders believe that their fellow
shareholders should replace the Incumbent Directors because they
have collectively failed to increase shareholder value.
Collectively, the Concerned Shareholders beneficially own,
control or direct, directly or indirectly, 9,330,600 common shares
of the Corporation, representing 19.85% of the Corporation's
outstanding common shares. In accordance with the early warning
system, Louis Lessard and other Concerned Shareholders also
announced today that they may purchase additional shares in
accordance with applicable securities laws, including possibly
under a take-over bid.
Additional information can be found in the Concerned
Shareholders' dissident proxy circular, which will be available on
SEDAR at www.sedar.com.
Forward-Looking Statements
Unless otherwise noted, the information concerning the
Corporation in this press release has been taken from or is based
upon publicly available documents or records on file with Canadian
securities regulatory authorities and other public sources.
Although the Concerned Shareholders do not have knowledge that
would indicate that any such information is untrue or incomplete,
the Concerned Shareholders do not assume any responsibility for its
accuracy or completeness, or for any failure by the Corporation to
disclose publicly events or facts that have occurred or that may
affect the significance or accuracy of any such information.
Certain statements contained in this press release constitute
forward-looking statements. The words "may", "would", "could",
"will", "intend", "plan", "anticipate", "believe", "estimate",
"expect" and similar expressions, as they relate to the Concerned
Shareholders, the Corporation or its future management, often
identify forward-looking statements.
Such statements reflect the Concerned Shareholders' current
views with respect to future events and are subject to certain
risks, uncertainties and assumptions. Many factors could cause the
Corporation's actual results, performance or achievements that may
be expressed or implied by those forward-looking statements to vary
from those described in this press release should one or more of
these risks or uncertainties materialize. Such factors include, but
are not limited to, economic, business, technological and
competitive factors.
Contacts: Louis Lessard President of Centre Financier de la Cite
Inc. 418-650-4171 418-650-4922 (FAX) llessard@cfcite.ca
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