Date of Hearing of Application for Court Approval of Call-Net Arrangement moved to June 30, 2005 from July 7, 2005
09 June 2005 - 7:57AM
PR Newswire (US)
Date of Hearing of Application for Court Approval of Call-Net
Arrangement moved to June 30, 2005 from July 7, 2005 Call-Net files
Notice of Amendment to May 25, 2005 management proxy circular
TORONTO, June 8 /PRNewswire-FirstCall/ -- Call-Net Enterprises Inc.
(Call-Net) announced today that it has filed with Canadian
securities regulators a notice of amendment to its management proxy
circular dated May 25, 2005 (the Circular) relating to its special
meeting of shareholders to be held on June 29, 2005. The Circular
seeks approval of Call-Net's shareholders for a plan of arrangement
pursuant to which Rogers Communications Inc. (RCI) will acquire all
of the outstanding common shares and class B non voting shares of
Call-Net. Under the arrangement, Call-Net shareholders will receive
one class B non-voting share of RCI for every 4.25 Call-Net shares
they hold. Certain sections of the Circular have been amended to
reflect a change to the return date for the final hearing, at which
time Call-Net will be seeking approval from the Ontario Superior
Court of Justice of the proposed arrangement pursuant to section
192 of the Canada Business Corporations Act. In particular, the
Notice of Application, which was attached as Appendix C to the
Circular, has been amended by Order of the Ontario Superior Court
of Justice dated June 8, 2005, to change the return date for the
hearing of Application to 10:00 a.m. (Eastern Time) on June 30,
2005 from 10:00 a.m. (Eastern Time) on July 7, 2005. The hearing
will take place at the Ontario Superior Court of Justice, 393
University Avenue, Toronto Ontario. The amendment does not result
in any changes to the terms of the transaction. A copy of the
notice of amendment can be found at http://www.sedar.com/. Call-Net
will also be mailing to shareholders of record on May 17, 2005 the
notice of amendment to the circular. The special meeting of
shareholders has not been changed, and will still be held on June
29, 2005 at Hilton Toronto (Toronto III Room), 145 Richmond Street
West, Toronto, Ontario at 11:00 a.m. (Eastern Time) and the record
date for voting will remain May 17, 2005, as previously announced.
Any Call-Net shareholder who has already deposited a valid proxy or
provided voting instructions to his or her broker or other
intermediary for use at the special meeting and who does not wish
to change his or her proxy need not take any further action. About
Call-Net Enterprises Inc. Call-Net Enterprises Inc., (TSX: FON,
FON.NV.B) primarily through its wholly owned subsidiary Sprint
Canada Inc., is a leading Canadian integrated communications
solutions provider of home phone, wireless, long distance and IP
services to households, and local, long distance, toll free,
enhanced voice, data and IP services to businesses across Canada.
Call-Net, headquartered in Toronto, owns and operates an extensive
national fibre network, has over 151 co-locations in five major
urban areas including 33 municipalities and maintains network
facilities in the United States and the United Kingdom. For more
information, visit http://www.callnet.ca/ and
http://www.sprint.ca/. Note for Investors: This news release may
include statements about expected future events and/or financial
results that are forward-looking in nature and subject to risks and
uncertainties. For those statements, we claim the protection of the
safe harbour for forward-looking statements provisions contained in
the Private Securities Litigation Reform Act of 1995. The Company
cautions that actual performance will be affected by a number of
factors, many of which are beyond its control. Future events and
results may vary substantially from what the company currently
foresees. Discussion of the various factors that may affect future
results is contained in the company's recent filings with the
Securities and Exchange Commission, the Ontario Securities
Commission and SEDAR. DATASOURCE: Call-Net Enterprises Inc.
CONTACT: Media Contact: Karen O'Leary, Corporate Communications,
(416) 718-6445,
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