|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.
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
Sep. 29, 2016 02:45 AM EDT Reads: 1,716
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
Sep. 29, 2016 02:30 AM EDT Reads: 2,160
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
Sep. 29, 2016 02:30 AM EDT Reads: 491
WebRTC adoption has generated a wave of creative uses of communications and collaboration through websites, sales apps, customer care and business applications. As WebRTC has become more mainstream it has evolved to use cases beyond the original peer-to-peer case, which has led to a repeating requirement for interoperability with existing infrastructures. In his session at @ThingsExpo, Graham Holt, Executive Vice President of Daitan Group, will cover implementation examples that have enabled ea...
Sep. 29, 2016 02:00 AM EDT Reads: 1,588
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software sec...
Sep. 29, 2016 01:45 AM EDT Reads: 1,324
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
Sep. 29, 2016 01:45 AM EDT Reads: 2,055
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Sep. 29, 2016 01:00 AM EDT Reads: 2,301
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said “No to LUNs.” With Tintri they mana...
Sep. 29, 2016 12:00 AM EDT Reads: 2,933
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Sep. 28, 2016 11:30 PM EDT Reads: 3,955
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
Sep. 28, 2016 11:30 PM EDT Reads: 2,729
Kubernetes is a new and revolutionary open-sourced system for managing containers across multiple hosts in a cluster. Ansible is a simple IT automation tool for just about any requirement for reproducible environments. In his session at @DevOpsSummit at 18th Cloud Expo, Patrick Galbraith, a principal engineer at HPE, discussed how to build a fully functional Kubernetes cluster on a number of virtual machines or bare-metal hosts. Also included will be a brief demonstration of running a Galera M...
Sep. 28, 2016 10:30 PM EDT Reads: 3,065
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
Sep. 28, 2016 09:15 PM EDT Reads: 365
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
Sep. 28, 2016 08:15 PM EDT Reads: 355
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...
Sep. 28, 2016 07:00 PM EDT Reads: 1,630
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Sep. 28, 2016 06:45 PM EDT Reads: 4,154