|By PR Newswire||
|December 17, 2012 07:41 PM EST||
TORONTO, Dec. 17, 2012 /CNW/ - Plantro Ltd. ("Plantro") and its sole shareholder, Matthew Proud ("Proud") together with Seastone Investments Limited ("Seastone"), the investment company of Proud's brother, Tyler Proud, are pleased to announce their take-over bid (the "Offer") for all of the issued and outstanding common shares of OneMove Technologies Inc. (TSX-V: OM) ("OneMove" or the "Company") at a price of Cdn.$0.425 per share. According to publicly available information, OneMove has 12,503,518 issued and outstanding common shares. The Offer will represent a premium of approximately 32% to the volume weighted average trading price of the common shares on the TSX-V for the 50 day period ended December 14, 2012.
Seastone, Plantro and Proud (together, the "Offeror") will file a joint amended early warning report indicating that, inter alia, they may be considered to be 'acting jointly and in concert' in respect of OneMove's securities, as such phrase is defined in section 91 of the Securities Act (Ontario). Collectively the Offeror owns or has control or direction over an aggregate of 2,985,500 common shares representing approximately 23.9% of the Company's issued and outstanding shares and warrants to acquire up to an additional 2,800,000 common shares representing approximately an additional 18.3% of the Company's common shares.
Assuming the exercise of the warrants held by the Offeror, the Offeror would own or have control or direction over an aggregate of 5,785,500 common shares representing approximately 37.8% of the Company's common shares.
There is currently no agreement, commitment or understanding between the Offeror and 2352512 Ontario Inc., a corporation owned by Proud's father, regarding their respective ownership of securities of the Company or the Offer. 2352512 Ontario Inc. currently owns 800,000 common shares representing approximately 6.4% of the Company's common shares and warrants to acquire up to an additional 800,000 common shares representing approximately an additional 6.0% of the Company's common shares, which taken together with securities held by the Offeror, represent approximately 45.9% of the Company's outstanding common shares (assuming exercise of warrants).
In addition, holders of an aggregate of approximately 2,000,000 (or 16%) of the Company's common shares not already owned by the Offeror have indicated their support for the Offer by entering into lock-up agreements.
By way of letter dated December 14, 2012, Plantro invited the Company to negotiate a support agreement in respect of the Offer which the Company declined.
The Offer will be made through a wholly owned subsidiary of Plantro and will be conditional on, among other things, the deposit of that number of common shares which, when taken together with the shares already owned by the Offeror, constitutes at least 66 2/3% of the shares. The Offeror has sufficient cash resources on hand that will be relied upon to take up and pay for common shares deposited and not withdrawn under the Offer.
The purpose of the Offer is to acquire all of the common shares not already owned by the Offeror. As the Offer is an "insider bid" as defined under Multilateral Instrument 61-101 ("61-101"), the Offeror has asked the Company to prepare a valuation pursuant to 61-101. The Offeror intends to commence the Offer as soon as practicable following receipt of the valuation from the Company, at which time the Offer documents will be filed with applicable securities regulatory authorities and copies will be delivered to OneMove. The Offeror intends to request a list of securityholders from the Company and, when received, will send the Offer documents to OneMove's securityholders. Copies of the Offer documents will also be available on SEDAR at www.sedar.com.
SOURCE Plantro Ltd.
Continuous processes around the development and deployment of applications are both impacted by -- and a benefit to -- the Internet of Things trend. To help better understand the relationship between DevOps and a plethora of new end-devices and data please welcome Gary Gruver, consultant, author and a former IT executive who has led many large-scale IT transformation projects, and John Jeremiah, Technology Evangelist at Hewlett Packard Enterprise (HPE), on Twitter at @j_jeremiah. The discussion...
Nov. 26, 2015 03:45 AM EST Reads: 688
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Nov. 26, 2015 03:00 AM EST Reads: 301
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
Nov. 26, 2015 02:00 AM EST Reads: 182
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound...
Nov. 26, 2015 01:30 AM EST Reads: 430
In today's enterprise, digital transformation represents organizational change even more so than technology change, as customer preferences and behavior drive end-to-end transformation across lines of business as well as IT. To capitalize on the ubiquitous disruption driving this transformation, companies must be able to innovate at an increasingly rapid pace. Traditional approaches for driving innovation are now woefully inadequate for keeping up with the breadth of disruption and change facin...
Nov. 26, 2015 01:00 AM EST Reads: 434
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at Logz.io, explored the value of Kibana 4 for log analysis and provided a hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He examined three use cases: IT operations, business intelligence, and security and compliance. Asaf Yigal is co-founder and VP of Product at log analytics software company Logz.io. In the past, he was co-founder of social-trading platform Currensee, which...
Nov. 26, 2015 12:00 AM EST Reads: 150
PubNub has announced the release of BLOCKS, a set of customizable microservices that give developers a simple way to add code and deploy features for realtime apps.PubNub BLOCKS executes business logic directly on the data streaming through PubNub’s network without splitting it off to an intermediary server controlled by the customer. This revolutionary approach streamlines app development, reduces endpoint-to-endpoint latency, and allows apps to better leverage the enormous scalability of PubNu...
Nov. 26, 2015 12:00 AM EST Reads: 279
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, San...
Nov. 26, 2015 12:00 AM EST Reads: 521
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true ...
Nov. 26, 2015 12:00 AM EST Reads: 483
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem"...
Nov. 25, 2015 10:00 PM EST Reads: 391
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
Nov. 25, 2015 10:00 PM EST Reads: 343
I recently attended and was a speaker at the 4th International Internet of @ThingsExpo at the Santa Clara Convention Center. I also had the opportunity to attend this event last year and I wrote a blog from that show talking about how the “Enterprise Impact of IoT” was a key theme of last year’s show. I was curious to see if the same theme would still resonate 365 days later and what, if any, changes I would see in the content presented.
Nov. 25, 2015 09:00 PM EST Reads: 366
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Ben Perlmutter, a Sales Engineer with IBM Cloudant, demonstrated techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, faster user e...
Nov. 25, 2015 08:30 PM EST Reads: 366
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at Built.io, examined how Docker has evolved into a highly effective tool for application del...
Nov. 25, 2015 05:00 PM EST Reads: 302
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
Nov. 25, 2015 03:45 PM EST