TORONTO, December 29, 2020 – Optiva Inc. (“Optiva” or the “Company”) (TSX:OPT) announced today that its board of directors has established a financing committee (the “Financing Committee”), consisting of independent directors Robert Stabile and Anuroop Duggal, to conduct a process to review and assess, among other things, Optiva’s alternatives to complete a financing transaction involving the issuance of subordinate voting shares or other securities of the Company. As part of the Financing Committee’s process, it is expected that the Financing Committee will fairly consider in an evenhanded manner any reasonable financing alternatives that may be made available to the Company in accordance with that process, including without limitation from any existing shareholder of the Company or OceanLink Management Ltd. There can be no assurance that any such financing alternatives will be made available to the Company on terms that the Financing Committee considers to be in the best interests of Optiva, or that any financing or other transaction will be completed by the Company.
The Company also announced today that Andrew Price and Neeraj Gupta have been added to the Company’s board of directors. Biographies of Messrs. Price and Gupta will be added to the Company’s website. Mr. Robert Stabile, Chair of the Board, stated: “We welcome Andrew and Neeraj to the board and look forward to their positive contribution to Optiva going forward.”
About Optiva Inc.
Optiva Inc. is a global leader in providing communication service providers (CSPs) with cloud-native revenue management software on the public cloud. CSP operators and mobile virtual network operators can integrate our best-of-breed charging engine into a BSS stack or deploy our fully managed, end-to-end, SaaS-based suite. Optiva solutions 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
This press release contains forward-looking statements and forward looking information within the meaning of applicable securities laws including, without limitation, statements regarding the activities of the Financing Committee and the Company’s consideration of financing alternatives. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements are forward looking and are based on the Company’s expectations as of the date of this press release. There is no assurance that any forward-looking statements will materialize. Risks that could cause our results to differ materially from our current expectations include the risk that funds may not be available to the Company on terms that the Financing Committee considers to be in the best interests of Optiva, or at all; and those risks regarding the Company’s business discussed in the Company’s most recent annual information form, which is available on SEDAR at www.sedar.com and on Optiva’s website at www.optiva.wpengine.com/investors/. The Company disclaims any intention or obligation to update any forward-looking statements, except as required by law, even if new information becomes available, as a result of future events or for any other reason.
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Optiva Announces Financing Committee