TORONTO, April 15, 2020 – Optiva Inc. (“Optiva” or the “Company“) (TSX: OPT), a leader in providing communications service providers (CSPs) worldwide with cloud-native revenue management software on the public cloud, announced today that the Company will hold its annual and special meeting of shareholders (the “Meeting“) on August 11, 2020. The Meeting will deal both with normal course matters and matters related to the previously announced requisition for a special meeting of holders of the Company’s subordinate voting shares received by the Board of Directors of the Company from Maple Rock Capital Partners Inc.
On March 31, 2020, the Company announced that the Special Committee of the Board of Directors of the Company had approved the postponement of the Meeting, which was previously scheduled for May 12, 2020, after the Company was advised by virtual meeting service providers that it was not possible to conduct a virtual contested shareholder meeting.
Following discussions with its transfer agent, Broadridge, and virtual meeting service providers, the Company has determined that it is not possible to hold a contested Meeting in a virtual or hybrid format. As a result of the inability to conduct the Meeting virtually, and out of concern for the safety of the Company’s staff, shareholders and advisers involved in the Meeting, the Company has decided to conduct the Meeting in person in August, when government-imposed restrictions on travel and in-person meetings are expected to be eased, and when the health risks posed by gatherings due to the dangers of coronavirus 2019 (COVID-19) are expected to be lessened. The Company intends to seek all necessary approvals required to hold the Meeting on August 11, 2020.
The Company notes that five of seven of its directors and its Chief Executive Officer are located in the United States. As a result of travel restrictions imposed by the United States and Canadian governments, currently, they are not permitted to travel to Canada for an in-person meeting.
Shareholders entitled to vote at the Meeting will receive detailed information about the requisitioned matters as well as annual general matters in the form of a management information circular in advance of the Meeting. Shareholders are not required to take any action at this time in respect of the combined annual and special Meeting.
About Optiva Inc.:
Optiva Inc. is the leader in providing communication service providers (CSPs) worldwide with cloud-native revenue management software on the public cloud. MNOs and MVNOs can integrate our best-of-breed charging engine into a BSS stack or deploy our fully managed, end-to-end, SaaS platform. Optiva products offer unmatched speed, scale, security, and savings. Our market knowledge, analytical insights, and unique Customer Success Program ensure telecoms are equipped to achieve their strategic business goals. Established in 1999, Optiva Inc. is on the Toronto Stock Exchange (TSX: OPT). For more information, visit www.optiva.wpengine.com.
Caution Concerning Forward-Looking Statements
Certain statements in this document may constitute “forward-looking” statements which involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this document, such statements use such words as “may,” “will,” “expect,” “continue,” “believe,” “plan,” “intend,” “would,” “could,” “should,” “anticipate” and other similar terminology. These statements are forward-looking as they are based on our current expectations, as at April 15, 2020, about our business and the markets we operate in, and on various estimates and assumptions. Our actual results could materially differ from our expectations if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that any forward-looking statements will materialize. Risks that could cause our results to differ materially from our current expectations are discussed in the Company’s most recent Annual Information Form, both of which are available on SEDAR at www.sedar.com and on Optiva’s website at www.optiva.wpengine.com/investors/. Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements. Optiva does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
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Optiva Announces Date of Annual and Special Meeting