LEVIS, QC, Nov. 3, 2016 /CNW Telbec/ - DEQ Systems
Corp. (TSXV: DEQ) is pleased to announce that its shareholders have
today approved a special resolution authorizing the previously
announced plan of arrangement pursuant to which SG Canada
Acquisitions, Inc., a wholly-owned subsidiary of Scientific Games
Corporation, will acquire all of the outstanding common shares in
the capital of DEQ for a cash payment of CDN$0.38 per common share of DEQ.
The special resolution, which required the approval of at least
two-thirds of the votes cast by shareholders, was approved by
96.49% of the votes cast by shareholders.
The plan of arrangement is also subject to the approval of the
Superior Court of Québec (Commercial Division) at a final hearing
which is scheduled to be held on November
10, 2016 in Montreal,
Quebec at 9:00 a.m. (EST) or
as soon thereafter as counsel may be heard. It is anticipated that
the arrangement transaction will be completed in the fourth quarter
of 2016 or the first quarter of 2017 following the satisfaction or
waiver of all the conditions of closing, including among other
things, receipt of the Court's approval.
About DEQ Systems
DEQ Systems Corp. (TSXV: DEQ) is one of the market leaders in
Table Games, Progressive Systems, Proprietary Table Games content
and Utility solutions. DEQ's systems and games are installed in
over 300 casinos, in 30 countries around the world. The combination
of our services, industry leading products and revenue generation
capabilities make DEQ a leader for innovation in the table game
bonusing segment of the global gaming market. For more information,
please visit www.deq.com.
Forward-Looking Information
This press release includes forward-looking information within
the meaning of applicable securities legislation. Forward-looking
information describes future expectations, plans, results or
strategies and can often be identified by the use of terminology
such as "may," "will," "estimate," "intend," "plan," "continue,"
"believe," "expect," "anticipate," "estimate," "should," "could,"
"potential," "opportunity," or similar terminology. Forward-looking
information is based upon management's current expectations,
beliefs, assumptions and estimates and are not guarantees of
timing, future results or performance. Forward-looking information
contained in this press release includes, without limitation,
statements pertaining to the completion of the plan of arrangement.
It is uncertain whether any of the events or results anticipated by
the forward-looking information (including consummation of the
proposed transaction) will transpire or occur. Forward-looking
information involves certain risks and uncertainties and other
factors that could cause actual results to differ materially from
those indicated in such forward-looking information, including but
not limited to: uncertainties as to the timing of the consummation
of the proposed transaction and the ability of the parties to
consummate the proposed transaction; the satisfaction of the
conditions precedent to consummation of the proposed transaction;
the ability to obtain required gaming approvals at all or in a
timely manner; litigation related to the proposed transaction;
disruption of current plans and operations as a result of the
proposed transaction; and the other risks, uncertainties and
important factors contained and identified (including under the
heading "Risk Factors") in DEQ's management proxy circular dated
October 3, 2016, which is available
on SEDAR at www.sedar.com, any of which could cause actual results
to differ materially from the forward-looking information. All
forward-looking information in this press release speaks as of the
date of this press release. DEQ does not undertake to update any
such forward-looking information whether as a result of new
information, future events or otherwise.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
SOURCE DEQ SYSTEMS CORP.