Netsmart Shareholder Vote to Be Held as Scheduled on April 5, 2007
March 20 2007 - 9:27AM
PR Newswire (US)
Netsmart Mails Supplemental Disclosure GREAT RIVER, N.Y., March 20
/PRNewswire-FirstCall/ -- Netsmart Technologies, Inc.
(NASDAQ:NTST), a leading provider of enterprise-wide software and
services for health and human services organizations, yesterday
mailed supplemental disclosures, consisting of certain financial
projections and the text of the legal opinion issued by the
Delaware Court of Chancery on March 14, 2007. The disclosures were
made pursuant to the Court's order permitting the shareholder vote
to take place as scheduled subject to Netsmart making such
disclosures. Netsmart will hold the special meeting of shareholders
on April 5, 2007 eastern time, at its offices at 3500 Sunrise
Highway, Great River, NY. The supplemental disclosures have been
filed with the Securities Exchange Commission and are also
available on Netsmart's website at http://www.ntst.com/ About
Netsmart Technologies, Inc. Netsmart Technologies, Inc., based in
Great River, N.Y., is an established, leading supplier of
enterprise-wide software solutions for health and human services
providers, with more than 1,300 clients, including more than 30
systems with state agencies. Netsmart's clients include health and
human services organizations, public health agencies, mental health
and substance abuse clinics, psychiatric hospitals, and managed
care organizations. Netsmart's products are full-featured
information systems that operate on a variety of operating systems,
hardware platforms, and mobile devices, and offer unlimited
scalability. Forward-Looking Statements Statements in this press
release may be "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Words such as
"anticipate," "believe," "estimate," "expect," "intend" and similar
expressions, as they relate to the company or its management,
identify forward-looking statements. These statements are based on
current expectations, estimates and projections about the company's
business based, in part, on assumptions made by management. These
statements are subject to risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
in the forward-looking statements. These factors include, but are
not limited to, (1) the occurrence of any event, change or other
circumstances that could give rise to the termination of the merger
agreement; (2) the inability to complete the merger due to the
failure to obtain stockholder approval or the failure to satisfy
other conditions to the completion of the merger; (3) the failure
to obtain the necessary debt financing arrangements set forth in
commitment letters received in connection with the merger; and
other risks that are set forth in Netsmart's filings with the
Securities and Exchange Commission at http://www.sec.gov/. Many of
the factors that will determine the outcome of the subject matter
of this press release are beyond Netsmart's ability to control or
predict. Additional Information about the Proposed Transaction and
Where You Can Find It In connection with the proposed transaction,
Netsmart Technologies, Inc. has filed a definitive proxy statement
and other relevant materials with the Securities and Exchange
Commission ("SEC"). BEFORE MAKING ANY VOTING DECISION WITH RESPECT
TO THE PROPOSED TRANSACTION, STOCKHOLDERS OF NETSMART TECHNOLOGIES,
INC. ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER
RELEVANT MATERIALS FILED WITH THE SEC BECAUSE THEY CONTAIN
IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The proxy
statement and other relevant materials, and any other documents
filed by Netsmart with the SEC, may be obtained free of charge at
the SEC's website at http://www.sec.gov/. In addition, stockholders
of Netsmart may obtain free copies of the documents filed with the
SEC by contacting Netsmart at (631) 968-2000 or by writing Netsmart
at 3500 Sunrise Highway, Great River, NY 11739. You may also read
and copy any reports, statements and other information filed by
Netsmart with the SEC at the SEC public reference room at 100 F
Street, N.E. Room 1580, Washington, D.C. 20549. Please call the SEC
at 1-800-SEC-0330 or visit the SEC's website for further
information on its public reference room. DATASOURCE: Netsmart
Technologies, Inc. CONTACT: Anthony Grisanti, Executive Vice
President and CFO of Netsmart Technologies, +1-631-968-2000 Web
site: http://www.ntst.com/
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