CALGARY, July 28, 2016 /CNW/ - SMART Technologies
Inc. (NASDAQ: SMT) (TSX: SMA) ("SMART" or the "Company"), a leading
provider of education and business collaboration solutions,
announces that, further to its press release dated July 26, 2016, the Court of Queen's Bench of
Alberta has granted a final order
approving the proposed arrangement involving Foxconn Technology
Group ("Foxconn") and the Shareholders pursuant to a plan of
arrangement under the Business Corporations Act
(Alberta) (the "Arrangement").
Under the terms of the Arrangement, Shareholders will receive from
Foxconn a cash payment of US$4.50 per
Common Share upon completion of the Arrangement.
Further details regarding the Arrangement are contained in the
Company'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.
The closing of the Arrangement is subject to the satisfaction of
a number of conditions precedent for transactions of this nature.
If these conditions are satisfied or waived, it is expected that
the Arrangement will close during the second quarter of the
Company's 2017 fiscal year, after which time the Common Shares will
be delisted from the Toronto Stock Exchange and the NASDAQ Stock
Market.
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
anticipated completion of the proposed Arrangement and the
anticipated timing thereof. 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.
©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.