Science & Technology
Science and Technology
Science and Technology
Mon, January 16, 2012
Sun, January 15, 2012
Sat, January 14, 2012
Fri, January 13, 2012
Softchoice Announces Diversification of Shareholder Base
January 13, 2012 18:21 ET
Softchoice Announces Diversification of Shareholder Base
TORONTO, ONTARIO--(Marketwire - Jan. 13, 2012) - Softchoice Corporation (TSX:SO) announced today that several institutions have acquired 5,093,700 common Softchoice shares in a bought deal with its largest shareholder, the Ontario Teachers' Pension Plan Board ("OTPPB"). With the successful closing of this transaction OTPPB's ownership of Softchoice common shares will be reduced from approximately 25 percent to nil.
"Teachers' has been incredibly supportive of Softchoice and our strategy, and it has been great having them in our corner," said David MacDonald, President and CEO of Softchoice. "As an organization we have performed well over the past few years. When investors understand our strategy and want to invest in our future, stock liquidity has often been a barrier to entry. We are very excited about Teachers' moving its position into the hands of several quality institutions, knowing this could have a positive impact on the overall liquidity of our stock."
About Softchoice
As a leading North American provider of technology solutions and services, Softchoice combines the efficiency and reliability of a national IT supplier with the personal touch and technical expertise of a local solutions provider. Softchoice's holistic approach to technology includes solution design, implementation and asset management services, as well as providing access to one of the most comprehensive and cost-effective technology distribution networks in North America. With more than 950 employees located in more than 40 branch offices, Softchoice manages the technology needs of almost 15,000 corporate and public sector organizations across the United States and Canada.
Softchoice stock is listed on the Toronto Stock Exchange (TSX) under the trading symbol "SO." The common shares of Softchoice are not registered under the U.S. Securities Act of 1933 and are not publicly traded in the United States.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to expectations, intentions and plans contained in this press release that are not historical fact. When used in this press release, the words "anticipate", "expect", "will" and similar expressions generally identify forward-looking statements. These statements reflect our current expectations and are subject to a number of risks and uncertainties including, but not limited to, change in technology and general market conditions, many of which are set out or incorporated by reference in the Company's latest Annual Information Form. Due to the many risks and uncertainties, Softchoice cannot assure that the forward-looking statements contained in this press release will be realized.
