TORONTO, March 15, 2016 /CNW/ - Redline Communications
(www.rdlcom.com) Group Inc. (TSX: RDL)("Redline" or the "Company")
announces today that the Toronto Stock Exchange has accepted notice
for filing of the shareholder rights plan (the "Rights Plan")
adopted by Redline on March 7, 2016,
subject to ratification by Redline's shareholders within six
months. Such approval will be sought at the upcoming annual general
and special meeting of the Company, which is expected to be held in
June 2016. If ratified by the
shareholders of Redline, the Rights Plan will have an initial term
of three years.
The primary objectives of the Rights Plan are to ensure that, in
the context of a bid for control of the Company through an
acquisition of shares of the Company, all shareholders have an
equal opportunity to participate in the bid and are given adequate
time to assess the bid. The Rights Plan is not intended to prevent
take-over bids that treat shareholders fairly and offer fair value,
and permits bids that meet certain requirements intended to protect
the interests of all shareholders.
The description of the Rights Plan in this news release is
qualified in its entirety by the full text of the rights plan, a
copy of which is available under Redline's profile on SEDAR at
www.sedar.com.
About Redline Communications
Redline Communications (www.rdlcom.com) is the creator of
powerful wide-area wireless networks for mission-critical
applications in challenging locations. Redline networks are used by
oil and gas companies to manage onshore and offshore assets, by
militaries for secure battlefield communications, by municipalities
to remotely monitor infrastructure, and by telecom service
providers to deliver premium services. Hundreds of businesses
worldwide rely on Redline to engineer, plan and deliver ruggedized,
secure and reliable networks for their M2M, voice, data and video
communications needs - in locations that include the deserts of the
Middle East, the rainforests of
South America, and the frozen
Alaskan slopes. For more information visit www.rdlcom.com.
Forward Looking Statements
Certain statements in this release may constitute
forward-looking statements or forward-looking information within
the meaning of applicable securities laws. In some cases,
forward-looking statements can be identified by terms such as
"could", "expect", "may", "will", "anticipate", "believe",
"intend", "estimate", "plan", "potential", "project" or other
expressions concerning matters that are not historical facts.
Readers are cautioned not to place undue reliance upon any such
forward-looking statements.
Such forward-looking statements are not promises or
guarantees of future performance and involve both known and unknown
risks and uncertainties that may cause the actual results,
performance, achievements or developments of Redline to differ
materially from the results, performance, achievements or
developments expressed or implied by such forward-looking
statements. Forward-looking statements, by their nature, are based
on certain assumptions regarding expected growth, management's
current plans, estimates, projections, beliefs, opinions and
business prospects and opportunities (collectively, the
"Assumptions"). While the Company considers these Assumptions
to be reasonable, based on the information currently available,
they may prove to be incorrect.
All trademarks are the property of their respective
owners.
SOURCE Redline Communications Group Inc.